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

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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
Department W had 2,940 units, one-third completed at the beginning of the period; 13,800 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 Oa. a. 13,800 units Ob. 16,740 units Oc. 15.190 units Od. 15.350 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
6. Production department records show the following: beginning work in process of 25,000 units (100% material, 30% conversion): 80,000 units started; and ending work in process of 12,000 units (100% material, 40% conversion). The company uses the FIFO method. The total equivalent units of production for the period are: A .105,000 units material, 97,800 units conversion B. 25,000 in process, beginning, and 93,000 units transferred ou C. answer not given D. 80,000 units material, 90,300 units conversion E. 93,000 units material, 90,300 units conversion
A production department in a process manufacturing system completed its work on 80,000 units of product and transferred them to the next department during a recent period. Of these units, 24,000 were in process at the beginning of the period. The other 56,000 units were started and completed during the period. At period-end, 16,000 units were in process. Compute the production department’s equivalent units of production for direct materials under each of three separate assumptions using the weighted-average method: 1. All direct materials are added to products when processing begins. 2. Beginning inventory is 40% complete as to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs. 3. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending inventory is 30% complete as to materials and 60% complete as to conversion costs.

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