At the beginning of the recent period solve this question At the beginning of the recent period, there were 900 units ofproduct in a department, 35% completed. These units were finishedand an additional 5,000 units were started and completed duringthe period. 800 units were still in process at the end of the period,25% completed. Using the weighted average method, theequivalent units produced by the department were:a. 5,000 units.b. 5,900 units.c. 6,100 units.d. 5,500 units.e. 6,700 units.

Step 1: Define Equivalent Units ProducedIn process costing, the total manufacturing costs incurred…

Answered: At the beginning of the recent period,…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 14EA: A production department within a company received materials of $10,000 and conversion costs of...

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At the beginning of the recent period, there were 1,500 units of product in a department, 35% completed. These units were finished and an additional 7,000 units were started and completed during the period. 1,600 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were: Multiple Choice 8,500 units. 10,100 units. 7,000 units. 7,900 units. 8,900 units.
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Ar the beginning of the recent period, there were 900 units of product in a department, one-third completed. These units were finished and an additional 5.000 units were started and completed during the period. 800 units were still in process at the end of the period, one-fourth completed. Using the FIFO valuation method, the equivalent units produced by the department were: (Show work on this test paper.) A. 6,700 units. B. 5,900 units. C. 5,800 units. D. 6,100 units. E. 8,500 units. 20. Wilson Corporation uses a process cost accounting system. The company manufactured certain goods at a cost of $800 and sold them on credit to Are Corporation for $1,075. The complete journal entry to be made by Wilson at the time of this sale is: (Analytical-Showing Work Not Required) Accounts Receivable-Are Corporation Cost of Goods Sold А. 1,075 800 Sales 1,075 800 Finished Goods Inventory Accounts Receivable-Are Corporation Finished Goods Inventory Sales 1,075 800 275 С. Cost of Goods Sold 1,075…
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Department W had 2,880 units, one-third completed at the beginning of the period; 12,200 units were transferred to Department X from Department W during the period; and 1,550 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The total number of units to be assigned cost on the cost of production report for Department W is a.12,200 units b.15,080 units c.13,750 units d.13,530 units
Assume that 12,000 units were on hand at the beginning of the period, 50,000 units were started during the period, 56,000 units were completed during the period, and 6,000 units were on hand at the end of the period. Direct materials are added at the beginning of the period. Under FIFO, the equivalent units for direct materials would be: a) 38,000 b) 50,000 c) 56,000 d) 62,000
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Department W had 2,820 units, one-third completed at the beginning of the period; 12,100 units were transferred to Department X from Department W during the period; and 1,050 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. What is the equivalent units of production used to compute unit conversion cost on the cost of production report for Department W? Assume the company uses FIFO. a.11,685 units b.11,160 units c.15,970 units d.9,280 units The following information pertains to Tanzi Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $35,855 Accounts receivable (net) 29,267 Inventory 26,611 Property, plant and equipment 210,452 Total Assets $302,185 Liabilities and Stockholders' Equity Current liabilities $56,968 Long-term liabilities…
Use this information about Department E to answer the question that follows. Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. There were 14,000 units of direct materials added during the period at a cost of $28,700. There were 15,000 units completed during the period, and 3,000 units were 75% completed at the end of the period. All materials are added at the beginning of the process, and the average cost method is used to cost inventories. Direct labor was $32,450, and factory overhead was $18,710. The number of equivalent units of production for the period is a.17,250 b.15,650 c.18,000 d.14,850

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