Area Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Drawing Department Winding Department Work in process, June 16,500 units, 20% completed 3,600 units, 60% completed Completed and transferred to next processing department during June 89,100 units 87,800 units Work in process, June 30 4,900 units, 50% completed 4,900 units, 30% completed Production begins in the Drawing Department and finishes in the Winding Department. Question Content Area a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "O". Drawing Department Direct Materials and Conversion Equivalent Units of Production For June

Area Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Drawing Department Winding Department Work in process, June 16,500 units, 20% completed 3,600 units, 60% completed Completed and transferred to next processing department during June 89,100 units 87,800 units Work in process, June 30 4,900 units, 50% completed 4,900 units, 30% completed Production begins in the Drawing Department and finishes in the Winding Department. Question Content Area a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "O". Drawing Department Direct Materials and Conversion Equivalent Units of Production For June

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 6E: Data for the two departments of Kimble Pierce Company for June of the current fiscal year are as...

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Data for the two departments of Kimble Pierce Company for June of the current fiscal year are as follows: Production begins in the Drawing Department and finishes in the Winding Department. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for (a) the Drawing Department and (b) the Winding Department.
Premier Products Inc. has three departments and uses the process cost system of accounting. A portion of the departmental cost work sheet prepared by the cost accountant at the end of July is reproduced below. Required: Prepare a cost of production summary for each department. (Round unit costs to three decimal places and totals to the nearest whole dollar.)
During March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.
The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
Baxter Company has two processing departments: Assembly and Finishing. A predetermined overhead rate of 10 per DLH is used to assign overhead to production. The company experienced the following operating activity for April: a. Materials issued to Assembly, 24,000 b. Direct labor cost: Assembly, 500 hours at 9.20 per hour; Finishing, 400 hours at 8 per hour c. Overhead applied to production d. Goods transferred to Finishing, 32,500 e. Goods transferred to finished goods warehouse, 20,500 f. Actual overhead incurred, 10,000 Required: 1. Prepare the required journal entries for the preceding transactions. 2. Assuming Assembly and Finishing have no beginning work-in-process inventories, determine the cost of each departments ending work-in-process inventories.
Using the same data found in Exercise 6.22, assume the company uses the FIFO method. Required: Prepare a schedule of equivalent units, and compute the unit cost for the month of December. Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was 40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Costs in beginning work in process for the Polishing Department were direct materials, 5,000; conversion costs, 6,000; and transferred in, 8,000. Costs added during the month: direct materials, 32,000; conversion costs, 50,000; and transferred in, 40,000.
Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 80,000 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 17,000 units, 25 percent complete with respect to conversion costs. d. Started in process, 95,000 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method.
Equivalent units and related costs; cost of production report; entries Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in ProcessFilling was as follows on January 1: The following costs were charged to Work in ProcessFilling during January: During January, 53,000 units of specialty chemicals were completed. Work in ProcessFilling Department on January 31 was 2,700 units, 30% completed. Instructions 1. Prepare a cost of production report for the Filling Department for January. 2. Journalize the entries for costs transferred from Reaction to Filling and the costs transferred from Filling to Finished Goods. 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. 4. Discuss the uses of the cost of production report and the results of part (3).
Cost of Production report The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. A. Prepare a cost of production report for the Cutting Department. B. Compute and evaluate the change in the costs per equivalent unit for direct materials and conversion from the previous month (December).
Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during October: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 13,000 units finished and transferred to stockroom Work in process, end of period, 2,000 units one-half completed Required: Prepare a cost of production summary for October.
Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Drawing Department Winding Department Work in process, June 1 4,500 units, 40% completed 2,200 units, 75% completed Completed and transferred to next 61,700 units 60,900 units processing department during June Work in process, June 30 3,400 units, 65% completed 3,000 units, 10% completed Production begins in the Drawing Department and finishes in the Winding Department. a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and Conversion Equivalent Units of Production For June Direct Materials Conversion Whole Units Equivalent Units Equivalent Units Inventory in process, June 1 Started and completed in June Transferred to Winding Department…
Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Drawing Department Winding Department Work in process, June 1 5,800 units, 50% completed 3,800 units, 65% completed Completed and transferred to next processing department during June 79,500 units 78,100 units Work in process, June 30 4,400 units, 75% completed 5,200 units, 20% completed Production begins in the Drawing Department and finishes in the Winding Department. a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and Conversion Equivalent Units of Production For June Whole Units Direct MaterialsEquivalent Units ConversionEquivalent Units Inventory in process, June 1 fill in the blank…