ATOZ company's product is manufactured in two departments. Units are inspected at the end of the production process in the first department. Data related to the month of May are: WIP.beg (60% materials, 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials, 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP.beg P1,260 Cost this Month Materials P36,240 | Labor 770 10,780 FOH 1,400 21,725 1. Compute for the cost per equivalent unit using average costing. 2. Compute for the equivalent units of production using FIFO. 3. Compute for the cost of WIP, end using Average costing.

ATOZ company's product is manufactured in two departments. Units are inspected at the end of the production process in the first department. Data related to the month of May are: WIP.beg (60% materials, 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials, 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP.beg P1,260 Cost this Month Materials P36,240 | Labor 770 10,780 FOH 1,400 21,725 1. Compute for the cost per equivalent unit using average costing. 2. Compute for the equivalent units of production using FIFO. 3. Compute for the cost of WIP, end using Average costing.

Name: ATOZ company's product is manufactured in two departments. Units are
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: ATOZ company's product is manufactured in two departments. Units are inspected at the end of theproduction process in the first department. Data related to the month of May are: WIP.beg (60% materials,35% labor, and 25% FOH), 1,000 units; started in

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

Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing departm of 2,800 units. The costs and percentage completion of these units in beginning inventory were: Percent Cost Complete Materials costs $12,600 $14,800 65% 34 Conversion costs 30% A total of 10,500 units were started and 9,400 units were transferred to the second processing department during the month. The following costs were ine first processing department during the month: Cost Materials costs $144,100 $361,500 Conversion costs The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to:
The Madalilangto Ink Company prepared the following table for the year 2019: Production Service Departments Departments V Rent 250,000 770,000 15,000 23,000 9,500 14,500 7,000 Repairs 100,000 120,500 30,000 7,500 Fuel 350,000 420,000 7,000 6,000 145,000 97,500 Indirect Labor 157,500 170,000 100,000 1. Indirect 61,000 56,500 127,000 94,500 60,000 Materials Heat and Light 151,200 71,300 50,500 Following is the result of the factory survey regarding service departments: [A] Department U services G, V, and W in the ratio of 2:1:1, respectively; [B] Department V services Department H, G, U, and W in the ratio of 4:3:2:1, respectively; [C] Department W services Department H and G in the ratio of 3:1, respectively. 202,500 94,000 60,000 9,000 6,000 7,500 3,000 Depreciation Miscellaneous 1,500 500 2,000 500 500 a. Compute for the total Factory overhead cost of H Department, if the company uses the step method in allocating service department costs and distributes the cost of Department U…
Georgia Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: cost percent complete materials costs $8,400 65% conversion costs $13,700 55% A total of 6,400 units were started and 5,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs $142,100 Conversion costs $271,000 The ending inventory was 85% complete with respect to materials and 50% complete with respect to conversion costs. What are the equivalent units for materials for the month in the first processing department? 935 6,735 6,900 5,800
Eastern Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: cost Percent complete Materials costs $3,900 65% Conversion costs $10,200 35% A total of 5,700 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs $44,800 Conversion costs $206,900 The ending inventory was 75% complete with respect to materials and 20% complete with respect to conversion costs. What are the equivalent units for conversion costs for the month in the first processing department? 5,020 6,300 4,700 320
Mack Inc. uses a weighted-average process costing system. Direct materials and conversion costs are incurred evenly during the production process. During the month of October, the following costs were incurred: Direct materials $39,700 Conversion costs 70,000 The work-in-process inventory as of October 1 consisted of 5,000 units, values at $4,300, that were 20% complete. During October, 27,000 units were transferred out. Inventory as of October 31 consisted of 3,000 units that were 50% complete. The weighted-average inventory cost per unit completed in October was: Select one: a. $3.88. b. $4.00. c. $3.99. d. $3.51.
Marvellous Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: Work in process, beginning: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory: Materials cost 800 50% 20% $2,440 $4,928 Conversion cost Units started into production during the month Units completed and transferred out 15,000 15,600 Costs added to production during the month: Materials cost $96,470 $476,362 Conversion cost Work in process, ending: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion 200 50% 90% Using the weighted-average method, a. Determine the equivalent units of production for materials and conversation costs b. Determine the cost per equivalent unit for materials and conversion costs c. Determine the cost of units transferred out of…
Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 15,700 75% Conversion costs $ 7,700 20% A total of 8,400 units were started and 7,500 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 $ 186,300 Conversion costs $ 329,800 The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to:
Annenbaum Corporation uses the weighted - average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6, 200 65% Conversion costs $ 7,300 45% A total of 7,500 units were started and 6,400 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 $ 126,000 Conversion costs $ 207,500 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for conversion costs for the first department for the month is closest to: Multiple Choice $26.59 $31.52 $28.72 $30.25
Idaho Corporation uses the weighted-average 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 $8,600 conversion costs $15,600 Percent complete with respect to materials 70% Percent complete with respect to conversion 50% Units started into production during the month 7,000 Units transferred to the next department during the month 6,200 Materials costs added during the month $97,600 Conversion costs added during the month $253,200 Ending work in process inventory Units in ending work in process inventory 1,500 Percent complete with respect to materials 90% Percent complete with respect to conversion 15% What are the equivalent units for conversion costs for the month in the first processing department? Group of answer choices 6,425 6,200 225 7,700
The following information was obtained for the grinding department of Harlan Company for May: BWIP had 94,500 units, 30% complete with respect to manufacturing costs. EWIP had 25,200 units, 25% complete with respect to manufacturing costs. Started 99,000 units in May. Required: Prepare a physical flow schedule. Harlan CompanyPhysical Flow ScheduleFor the Month of May Units to account for: Units in beginning work in process fill in the blank 1 Units started during the period fill in the blank 2 Total units to account for fill in the blank 3 Units completed and transferred out: Units started and completed fill in the blank 4 Units completed from beginning work in process fill in the blank 5 fill in the blank 6 Units in ending work in process fill in the blank 7 Total units accounted for fill in the blank 8
Compute for the total cost accounted for using FIFO. ATOZ company's product is manufactured in two departments. Units are inspected at the end of the production process in the first department. Data related to the month of May are: WIP,beg (60% materials, 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials, 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP,beg P1,260 770 Cost this Month P36,240 10,780 21,725 Materials Labor FOH 1,400