Basic Flows, Equivalent UnitsThayn Company produces an arthritis medication that passes through two departments: mixing and tableting. Thayn uses the weighted average method. Data for February for mixing are as follows: BWIP waszero; EWIP had 36,000 units, 50% complete; and 470,000 units were started. Tableting's data for February are as follows: BWIP was 24,000 units, 20% complete; and 12,000 units were in EWIP, 40%complete.Required:1. For Mixing, calculate the (a) number of units transferred to Tableting, and (b) equivalent units of production.a. Units transferred to Tabletingb. Equivalent units of production483,200 X units452,000units2. For Tableting, calculate the number of units transferred out to Finished Goods.488,000 X units3. Conceptual Connection: Suppose that the units in the mixing department are measured in ounces, while the units in Tableting are measured in bottles of 100 tablets, with a total weight of eight ounces(excluding the bottle).Now, repeat Requirement 2 using this approach.Units transferred out 60,400 X units

Let's take a closer look at the computations. 1a. Units transferred to tableting: The ending work in…

Answered: Basic Flows, Equivalent Units Thayn…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 40P: Jacson Company produces two brands of a popular pain medication: regular strength and extra...

See similar textbooks

Similar questions

Thayn Company produces an arthritis medication that passes through two departments: mixing and tableting. Thayn uses the weighted average method. Data for February for mixing are as follows: BWIP was zero; EWIP had 36,000 units, 50% complete; and 490,000 units were started. Tableting's data for February are as follows: BWIP was 26,000 units, 20% complete; and 12,000 units were in EWIP, 40% complete. 1. For Mixing, calculate the number of units transferred to Tableting, and equivalent units of production. Line Item Description Units Units transferred to Tableting _______________ Equivalent units of production _______________ 2. For Tableting, calculate the number of units transferred out to Finished Goods._____________________ 3. Conceptual Connection: Suppose that the units in the mixing department are measured in ounces, while the units in Tableting are measured in bottles of 100 tablets, with a total weight of eight…
Thayn Company produces an arthritis medication that passes through two departments: mixing and tableting. Thayn uses the weighted average method. Data for February for mixing are as follows: BWIP was zero; EWIP had 36,000 units, 50% complete; and 440,000 units were started. Tableting's data for February are as follows: BWIP was 26,000 units, 20% complete; and 12,000 units were in EWIP, 40% complete. Required: 1. For Mixing, calculate the (a) number of units transferred to Tableting, and (b) equivalent units of production. a. Units transferred to Tableting 404,000 V units b. Equivalent units of production 422,000 V units 2. For Tableting, calculate the number of units transferred out to Finished Goods. 418,000 V units 3. Conceptual Connection: Suppose that the units in the mixing department are measured in ounces, while the units in Tableting are measured in bottles of 100 tablets, with a total weight of eight ounces (excluding the bottle). Now, repeat Requirement 2 using this approach.…
Jacson Company produces two brands of a popular pain medication: regular strength and extra strength. Regular strength is produced in tablet form, and extra strength is produced in capsule form. All direct materials needed for each batch are requisitioned at the start. The work orders for two batches of the products are shown below, along with some associated cost information: In the Mixing Department, conversion costs are applied on the basis of direct labor hours. Budgeted conversion costs for the department for the year were 60,000 for direct labor and 190,000 for overhead. Budgeted direct labor hours were 5,000. It takes one minute of labor time to mix the ingredients needed for a 100-unit bottle (for either product). In the Bottling Department, conversion costs are applied on the basis of machine hours. Budgeted conversion costs for the department for the year were 400,000. Budgeted machine hours were 20,000. It takes one-half minute of machine time to fill a bottle of 100 units. Required: 1. What are the conversion costs applied in the Mixing Department for each batch? The Bottling Department? 2. Calculate the cost per bottle for the regular and extra strength pain medications. 3. Prepare the journal entries that record the costs of the 12,000 regular strength batch as it moves through the various operations. 4. Suppose that the direct materials are requisitioned by each department as needed for a batch. For the 12,000 regular strength batch, direct materials are requisitioned for the Mixing and Bottling departments. Assume that the amount of cost is split evenly between the two departments. How will this change the journal entries made in Requirement 3?
Powers Inc. produces a protein drink. The product is sold by the gallon. The company has two departments: Mixing and Bottling. For August, the bottling department had 60,900 gallons in beginning inventory (with transferred-in costs of $283,000) and completed 211,000 gallons during the month. Further, the mixing department completed and transferred out 295,000 gallons at a cost of $649,000 in August. Required: 1. Prepare a physical flow schedule for the bottling department. Powers Inc. Physical Flow Schedule - Bottling Department For the Month of August Physical flow schedule: Units in beginning work in process Units started during the period Total units to account for Units completed and transferred out: Units started and completed Units completed from beginning work in process Units in ending work in process Total units accounted for 2. Calculate equivalent units for the transferred-in category. equivalent units 3. Calculate the unit cost for the transferred-in category. If required,…
Dormir produces a liquid herbal sleep remedy. Production begins in the Blending Department. All materials are added at the beginning of the blending process. Output is measured in ounces. The production data for June are as follows:Production:Units in process, June 1, 70% complete*6,000Units completed and transferred out36,000Units in process, June 30, 40% complete*12,000* With respect to conversion cost Complete the physical flow schedule given below. There are a number of useful relationships. For example, Units Started and Completed = Units Completed ‒ Units in BWIP and Units Started = Units Completed ‒ Units in EWIP Units to Account for: Units in BWIP Units started Total units to account for Units accounted for: Units Completed: From: BWIP Started and completed Units in BWIP Total units accounted for Prepare the Equivalent Unit Schedules for FIFO and Weighted Average by completing the Table below. Since inputs are…
Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 40% complete 20,000 gallons Units completed and transferred out 135,000 gallons Units in process, July 31, 45% complete 24,000 gallons Costs: Work in process, July 1 $40,000 Costs added during July 372,060 Required: Prepare a production report. Aztec Inc. Mixing Department Production Report For the Month of July (FIFO Method) Unit Information Physical flow: Units to account for: Units Units in beginning WIP Units started Total units to account for Units to account for: Units Units started and completed
The Early Pearly Company makes product for lovers only in two departments: Forming and Scenting. Forming began the month with 500 products for lovers only in process that were 100% complete as to material and 40% complete as to conversion. During the month, 6,500 products only for lovers were started. At month end, Forming had 2,100 products for lovers only that were still in process that were 100% complete as to material and 50% complete as to conversion. Assume Forming uses the weighted average method of process costing. Costs in the Forming Department are as follows: Beginning Work in process costs: Material P1,000 Conversion 1,500 Current Costs: Material P3,200 Conversion 5,045 The Scenting Department had 600…
Halligan Company manufactures a product in four departments. Data for the first department follow: Production: Units in process, July 1, 75% complete Units completed and transferred out Units in process, July 31, 25% complete Costs: Work in process, July 1 Costs added during the month Halligan uses FIFO costing. Required: 60,000 150,000 30,000 $193,500 $500,625 1. Prepare a physical flow analysis for the first department for July. 2. Calculate equivalent units of production for the first department for July. 3. Calculate unit cost for materials, conversion, and in total for the first department for July. 4. Calculate the cost of units transferred out and the cost of ending work in process. 5. Prepare a cost reconciliation for the first department for July.
Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 30,000 gallons Units completed and transferred out 195,000 gallons Units in process, July 31, 75% complete 12,000 gallons Costs: Work in process, July 1 $ 48,000 Costs added during July 390,000 Required: 1. Calculate the equivalent units for July.fill in the blank 1 equivalent units 2. Calculate the unit cost. Round your answer to the nearest cent.$fill in the blank 2per unit 3. Assign costs to units transferred out and EWIP using the FIFO method. Note: Do not round interim computations. Cost of units transferred out $fill in the blank 3 Ending work in process $fill in the blank 4
The Mixing Department of Foods for You had 50,000 units to account for in October. Of the 50,000 units, 15,000 units were completed and transferred to the next department, and 35,000 units were 45% complete for conversion work. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the mixing process and the company uses the weighted-average method. Compute the total equivalent units of production for direct materials and conversion costs for October. Foods for You Production Cost Report - Mixing Department (Partial) Month Ended October 31 UNITS Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for Physical Units 15,000 35,000 50,000 Equivalent Units Direct Materials 15,000 35,000 50,000 Conversion Costs 15,000 15000 35000 ...
Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 60,000 gallons Units completed and transferred out 390,000 gallons Units in process, July 31, 75% complete 24,000 gallons Costs: Work in process, July 1 $ 96,000 Costs added during July 780,000 Required: 1. Calculate the equivalent units for July. equivalent units 2. Calculate the unit cost. Round your answer to the nearest cent. per unit 3. Assign costs to units transferred out and EWIP using the FIFO method. Note: Do not round interim computations. Cost of units transferred out Ending work in process
What is the cost of the goods transferred out during February? (Round intermediary calculations to the nearest cent.) Why are we using the 25% Completed for CC beg WIP vs the 75% completed during the month?

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning