**Exercise 20-25**---**Drawing Department**- **Transferred to Packing Department** - **Inventory in process, ending (55% completed)** (Data entry fields provided)- **Equivalent Units of Production** (Data entry fields provided)---**Winding Department**- **Transferred to Packing Department** - **Inventory in process, ending (25% completed)** (Data entry fields provided)- **Equivalent Units of Production** (Data entry fields provided)---**Explanation:**This layout is part of a production tracking system used in manufacturing. It is organized to help calculate the equivalent units of production for different departments—Drawing and Winding. Each section lists components like products transferred to the Packing Department and the percentage completion of in-process inventory. Data is filled into designated fields to project the progress within each department and calculate equivalent production units accurately. **Appendix EX 20-25: Equivalent Units of Production: Average Cost Method**Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows:| | Drawing Department | Winding Department ||---------------------------|-------------------------------|-------------------------------|| Work in process, July 1 | 500 units, 50% completed | 350 units, 30% completed || Completed and transferred to next processing department during July | 11,400 units | 10,950 units || Work in process, July 31 | 700 units, 55% completed | 800 units, 25% completed |Each department uses the average cost method.a. **Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department.**b. **Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Winding Department.**

Whole units = Units transferred out + Ending WIP Drawing department = 11,400 + 700 = 12,100…

Answered: Appendix EX 20-25 Equivalent units of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Q. 2: For the month of January 2022, the production control department of XYZ Inc., reported the following production data for Department 2: Transferred in from Department 1.. Transferred out to Department 3 In process at the end of January (with 1/3 material, ½ labor and FOH)... 60,000 units .52,000 units .6,000 units Page 1 of 2 The Cost Department collected these figures for Department 2: Unit cost for units transferred in from Department 1.. Material cost in Department 2. Labor cost in Department 2.. Factory Overhead.. 19.20 492,100 465,310 470,590 Required: Cost of Production Report of Department 2 for January 2022.
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Mar. Item 1 Bal., 5,100 units, 4/5 completed 31 Direct materials, 91,800 units 31 Direct labor Debit 156,060 40,880 23,002 Credit Debit 222,996 11,322 167,382 208,262 231,264 8,268 8,268 31 Factory overhead 31 Goods finished, 93,000 units 31 Bal. ? units, 3/5 completed a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units started and completed during March 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent…
Problem 1 Delta Corporation uses a process cost system and the FIFO cost flow assumption. Production begins in the Assembly Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On December 1, the beginning work in process inventory consisted of 20,000 units, which were 25% complete (conversion costs) and had a cost of $80,000. During March, the following occurred: Materials added Conversion costs incurred Units started during March Units in ending work in process March 31 (30% complete) Required: Prepare a Production Cost Report for the month ended December 31, 2017. $260,000 $75,000 65,000 19,000
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Units to be Assigned Costs Oak Ridge Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots from the Casting Department are rolled into steel sheet. The Rolling Department received 51,700 tons from the Casting Department. During July, the Rolling Department completed 62.200 tons, including 13,600 tons of work in process on July 1. The ending work in process inventory on July 31 was 3,100 tons. How many tons were started and completed during July? 1,900 X tons
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Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department Date Dec. Item 1 Bal., 6,600 units, 3/5 completed 31 Direct materials, 118,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 120,300 units 31 Bal., ? units, 3/5 completed Debit 190,080 53,490 30,090 Credit 276,492 ACCOUNT NO. Balance Debit 13,134 203,214 256,704 286,794 10,302 10,302 Credit a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process . Assuming that the direct materials cost is the same for November and December, did the…
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Equivalent Units of Production: Weighted average method Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Drawing Department Winding Department Work in process, July 1 1,450 units, 60% completed 450 units, 35% completed Completed and transferred to next processing department during July 22,850 units 22,600 units Work in process, July 31 1,100 units, 60% completed 700 units, 30% completed Each department uses the Weighted average method. For each department, assume that direct materials are placed in process during production. a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department. Whole units fill in the blank 1 units Equivalent units of production fill in the blank 2 units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units…
Vd Subject: accounting
Department G had 2,280 units 25% completed at the beginning of the period, 12,700 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $33,800 Costs added during period: Direct materials (12,320 units at $8) 98,560 Direct labor 81,600 Factory overhead 27,200 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 2,280 units of beginning inventory which were completed during the period is (do not round unit cost calculations) $33,800 $50,572 $45,698 $48,672
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