Bal., 6,000 units, 25% completed Direct materials, 141,000 units @ $2.10 Direct labor Factory overhead Bal., 2 units, 70% completed Work in Process-Assembly Department 18,450 To Finished Goods, 138,000 units 296,100 431,800 167,960

Bal., 6,000 units, 25% completed Direct materials, 141,000 units @ $2.10 Direct labor Factory overhead Bal., 2 units, 70% completed Work in Process-Assembly Department 18,450 To Finished Goods, 138,000 units 296,100 431,800 167,960

Name: b. Equivalent units of production for direct materials and conversion
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Description: b. Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in"0".Work in Process-Assembly DepartmentEquivalent Units of Production for Direct Materials and Conversion CostsInventory in process, begi

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Department G had 1,920 units 25% completed at the beginning of the period, 13,300 units were completed during the period; 1,600 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $26,700 Costs added during period: Direct materials (12,980 units at $8) 103,840 Direct labor 86,400 Factory overhead 28,800 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of the units started and completed during the period is (do not round unit cost calculations) $91,040 $170,856 $210,764 $190,810
Department G had 1,920 units 25% completed at the beginning of the period, 13,800 units were completed during the period, 1,600 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $29,200 Costs added during period: Direct materials (13,480 units at $8) 107,840 Direct labor Factory overhead 73,200 24,400 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 1,920 units of beginning inventory which were completed during the period is (do not round unit cost calculations) O $39,504 O $29,200 $37,443 $41,104
3,800 units, 60% completed Direct materials, 32,000 units Direct labor Factory overhead Total cost to be accounted for $ 60,400 378,000 274,000 168.000 $880.400 During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1. On June 30, the inventory of work in process consisted of 4,600 units which were 85% completed. Inventories are costed by the first-in, first-out method and all materials are added at the beginning of the process. Determine the following (round unit cost data to four decimal places to minimize rounding differences): Equivalent units of production for conversion cost (a) (b) Conversion cost per equivalent unit Total and unit cost of finished goods started in prior period and completed in the current period Total and unit cost of finished goods started and completed in the current period (c) (d) (e) Total cost of work in process inventory, June 30
Ocess The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials placed in process at the beginning of production. Work In Process-Assembly Department Bal., 2,000 units, 25% completed 5,100 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.7 79,900 Direct labor 126,400 Factory overhead 49,165 Bal., 2 units, 65% completed Cost per equivalent units of $1.70 for Direct Materials and $3.70 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 24 1. Cost of beginning work in process inventory completed this period %24 2. Cost of units transferred to finished goods during the period %24 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest $ cent.)
Department G had 2,280 units 25% completed at the beginning of the period, 12,600 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $32,500 Costs added during period: Direct materials (12,220 units at $8) 97,760 Direct labor 73,800 Factory overhead 24,600 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of the departmental work in process inventory at the end of the period (round unit cost calculations to four decimal places and round your final answer to the nearest dollar)? a.$17,460 b.$23,677 c.$18,213 d.$15,200
Department G had 1,920 units 25% completed at the beginning of the period, 13,600 units were completed during the period, 1,600 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period Costs added during period: Direct materials (13,280 units at $9) Direct labor Factory overhead $27,200 119,520 76,200 25,400 All direct materials are placed in process at the beginning of production, and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (do not round unit cost calculation)? a. $175,756 b. $211,074 c. $105,120 d. $193,415
Test and Pack Department 120,000 Total $306,000 The direct labor information for the production of 7,500 units of each product is as follows: Assembly Department Test and Pack Department Blender 750 dlh 2,250 dlh Toaster oven 2,250 750 Total 3,000 dlh 3,000 dlh Four Finger Appliance used direct labor hours to allocate production department factory overhead to products. If required, round all per unit answers to the nearest cent. a. Determine the two production department factory overhead rates. Assembly Department per direct labor hour Test and Pack Department per direct labor hour b. Determine the total factory overhead and the factory overhead per unit allocated to each product. Product Total Factory Overhead Factory Overhead Per Unit Blender Toaster oven
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Department G had 2,280 units 25% completed at the beginning of the period, 12,700 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $33,800 Costs added during period: Direct materials (12,320 units at $8) 98,560 Direct labor 81,600 Factory overhead 27,200 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 2,280 units of beginning inventory which were completed during the period is (do not round unit cost calculations) $33,800 $50,572 $45,698 $48,672
Work in Process—Assembly Department Bal., 3,000 units, 35% completed 7,395 To Finished Goods, 69,000 units ? Direct materials, 71,000 units @ $1.8 127,800 Direct labor 100,700 Factory overhead 39,200 Bal., ? units, 40% completed ? Cost per equivalent units of $1.80 for Direct Materials and $2.00 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period $ 2. Cost of units transferred to finished goods during the period $ 3. Cost of ending work in process inventory $ 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) $ b. Did the production costs change from the preceding period?Yes c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit…
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 5,000 units, 40% completed Direct materials, 118,000 units @ $1.4 Direct labor Factory overhead Bal., ? units, 20% completed 12,800 To Finished Goods, 115,000 units 165,200 255,800 99,460 Cost per equivalent units of $1.40 for Direct Materials and $3.10 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.)