Atypical Manufacturing is trying to determine the equivalent units for conversion costs with 40,000 units of ending work in process at 40% completion and 73,000 physical units. There are no beginning units in the department. Conversion costs occur evenly throughout the entire production period. What are the equivalent units for conversion costs for the current period? O 49,000 O 76,500 O 33,000 O 113,000

Atypical Manufacturing is trying to determine the equivalent units for conversion costs with 40,000 units of ending work in process at 40% completion and 73,000 physical units. There are no beginning units in the department. Conversion costs occur evenly throughout the entire production period. What are the equivalent units for conversion costs for the current period? O 49,000 O 76,500 O 33,000 O 113,000

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

1. Yellow Co has two processes, Y and Z. There is an expected loss of 5% of input in process Y and 7% of input in process Z. Activity during a four week period is as follows. Y Material input (kg) 20,000 Output (kg) 18,500 26,100 Is there an abnormal gain or abnormal loss for each process? Z 28,000 2. 3,000 units of material are input to a process. Process costs are as follows. Material $11,700 Conversion costs $6,300 Output is 2,000 units. Normal loss is 20% of input. Required Prepare a process account and the appropriate abnormal loss/gain account.
In using the average method how many units were completed from process 1 and transferred to process 2 and its average unit cost? 15,000 units at an average unit cost P8.65. 15,000 units at an average unit cost P8.70. 14,600 units at an average unit cost P9.00. 14,800 units at an average unit cost P8.80.
Please do not give solution in image format thanku
Costner produces two product lines. Prices/costs per unit follow. "W" "H" Selling price $60 $45 Direct material $16 $12 Direct labor ($20/hour) $15 $10 Variable overhead $13 $8 Demand for "W" is 241 units and "H" is 308 units If Costner only 178 labor hours available, how many units of "H" should be manufactured? Round your final answer to the nearest whole unit.
A production department reports the following conversion costs. Equivalent units of production for conversion total 357,000 for this period. Calculate the cost per equivalent unit of production for conversion. The company uses the weighted-average method. Cost of beginning work in process Costs added this period Multiple Choice о O O O O $2.90. $3.65. $0.42. $3.90. $0.75. 268,000 1,124,300
1 What was the equivalent units for materials costs 2 What was the equivalent units for conversion cost 3 The cost of a finished unit is 4 The cost of the goods completed is Summer Company makes a single chemical product in 2 departments. The addition of chemicals in the second department increases the weight of the product by 10% because of additional chemicals added when production reaches 50% of completion stage. The following are the information of Dept B for May 2021: Units: In Process Beg 70% done 10,000 Received from Dept A Completed and Transferred In Process End 60% Costs: In Process, Beg Preceding Dept Cost Materials Conversion 30,000 28,000 ??? P20,150 P97.350 P80,850 P81,000
Assume the following production data taken from the records of CONEY Manufacturing Co: Transferred out 130,000 units Started in process 150.000 units Ending work in process (2/8 complete) 45,000 units 40% of the materials are added when the processing is halfway complete with the balance added when 80% complete. Beginning work in process, if any, needs 3/5 to be completed. There are no spoiled units. 1. What is the Equivalent Units of Production for Direct Materials using the Weighted Average method? 2. What is the Equivalent Units of Production for Conversion Cost using the Weighted Average method?
In a manufacturing process, 70% of parts produced are good parts, while 30% of parts are sent to a rework station. 80% of parts coming from the rework station are good parts, while 20% are scrapped. Suppose that manufacturing cost per unit is 200 TL/unit in the initial process and 250 TL/unit in the rework station. a) Determine the cost per good unit. Cost/Good Unit = Initial Process Rework Process b) If a quality improvement program is implemented, 90% of parts produced become good parts (a change from 70% to 90% is achieved). 10% of parts are sent to the rework station, where again a quality improvement (QI) program is implemented, and the percent of good parts is increased from 80% to 90% and only 10% are scrapped. Determine the manufacturing cost per good unit after the quality improvement. Cost/Good Unit After QI= c) Determine the % increase in productivity and % decrease in cost/good unit due quality improvement. % Increase in Productivity= % Decrease in Cost = 2
Concord Company has recently tried to improve its analysis for its manufacturing process. Units started into production equaled 7000 and ending work in process equaled 400 units. Concord had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied at the beginning of the process. How much is the materials cost per unit if ending work in process was 20% complete and total materials costs equaled $16100? $2.44. $2.30. $11.50. $2.18.
In March, Kelly Company had the following unit production costs: materials $ 10 and conversion costs $ 8. On March 1, it had no work in process. During March, Kelly transferred out 22,000 units. As of March 31, 4,000 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process. (a) Compute the total units to be accounted for. Total units
Muscat Painting Company has the following production data for March. Beginning work process 400,000 units (60% complete), started into production 370,000 units, completed and transferred out 706,000 units, and ending work in process 40,000 units (40% complete). the equivalent units of production for conversion costs will be: Select one: O a. 810,000. O b. 650,000. O c 770,000. O d. None of the answers are correct O e. 722,000.
1. Production department records show the following: beginning work in process of 20,000 units (80% material, 30% conversion): 80,000 units started; and ending work in process of 9,000 units (100% material, 40% conversion). The company uses the weighted-average method. The equivalent units of production for materials are?