Asafa Incuses the weighted-average method in its process costing system. The Assembly Department started the month with 8,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 96,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 5,000 units in the ending work in process inventory of the Assembly Department that were 20% complete with respect to conversion costs. SEP What were the equivalent units for conversion costs in the Assembly Department for the month?

Asafa Incuses the weighted-average method in its process costing system. The Assembly Department started the month with 8,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 96,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 5,000 units in the ending work in process inventory of the Assembly Department that were 20% complete with respect to conversion costs. SEP What were the equivalent units for conversion costs in the Assembly Department for the month?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Roger Company uses the FIFO method in its process costing system. The following data are taken from the accounting records of a particular department for June: Beginning work in process inventory: Cost Units Percentage completion: Materials Conversion Units completed and transferred out Cost per equivalent unit: Material P17,500 20,000 units 100% 60% 75,000 units P1.75 P0.50 Conversion Required: The cost of the 75,000 units transferred out of the department during June is
Use the following information for Questions 4-6: Burton Company uses the weighted-average method in its process costing system. The Packaging Department started the month with 200 units in process, started 1,500 units, and had 150 units in process at the end of the period. All materials are added at the beginning of the process, and conversion costs are incurred uniformly. The units in process at the end of the month are 20% complete with respect to conversion costs. The department incurred the following costs: The cost per equivalent unit for direct materials is a. $2.00. b. $4.00. c. $8.00. d. $14.00
Loll Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: Units CC % Completion Beg WiP 11,000 50% Started in June 98,000 End WiP 21,000 80% According to the company's records, the conversion cost in beginning work in process inventory was $46,915 at the beginning of June. Additional conversion costs of $825,183 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)
Mullins Corporation uses the first-in, first-out method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 700 Materials costs $ 11,500 Conversion costs $ 22,200 Percent complete with respect to materials 75% Percent complete with respect to conversion 65% Units started into production during the month 8,600 Units transferred to the next department during the month 7,800 Materials costs added during the month $ 159,300 Conversion costs added during the month $ 348,500 Ending work in process inventory: Units in ending work in process inventory 1,500 Percent complete with respect to materials 65% Percent complete with respect to conversion 50% The cost per equivalent unit for conversion costs for the first department for the month is closest to: $48.79 $43.05 $44.68 $45.20
Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company’s first production process for September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to conversion; consists of $45,000 of direct materials cost and $56,320 conversion cost) $101,320 Costs incurred in September Direct materials . $375,000 Conversion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $341,000 Work in process inventory, September 30 (7,000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion) . $ ? Units started in September . 28,000 Units completed…
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 12,000 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $39,400. A total of 42,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $2.40 for materials and $4.50 for conversion costs. The total cost of the units completed and transferred out of the department was:
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Materials Units 49,000 35,000 Conversion Work in process, October 1 Work in process, October 31 90 65 8 688 50 The department started 398,000 units into production during the month and transferred 412,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Converslon nces Equivalent units of production < Prev 2 of 8 Next MacBook Air 80 44 & 24 41 %23 2 3 5 9 Q E R. T Y F G H. K V
Clonex Labs, Incorporated, uses the weighted average method in its process costing system. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 48,000 90 % 60% Work in process, October 31 36,000 75 % 52% The department started 398,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Conversion Equivalent units of production
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Cost PercentComplete Materials costs $ 5,700 65% Conversion costs $ 6,800 45% A total of 6,500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 125,500 Conversion costs $ 207,000 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. What are the equivalent units for conversion costs for the month in the first processing department? 6,900 6,250 350 5,900
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 Work in process, October 31 52,000 90% 35,000 65% 55% 51% The department started 392,000 units into production during the month and transferred 409,000 completed units to the next department. Required: Compute the equivalent units of production for October. Equivalent units of production Materials Conversion
provide answer
Kansas Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: Units Percent Complete with Respect to Conversion Beginning work-in-process inventory 11,000 50 % Started into production during June 98,000 Ending work-in-process inventory 21,000 80 % According to the company's records, the conversion cost in beginning work-in-process inventory was $46,915 at the beginning of June. Additional conversion costs of $825,183 were incurred in the department during the month.What was the cost per equivalent unit for conversion costs for the month? (Round your answer to 3 decimal places.) $8.322. $6.934. $8.530. $8.420.