Beginning work in process inventory:        Units in process 200     Completion with respect to materials 55%     Completion with respect to conversion 30%     Costs in the beginning work in process inventory:       Materials cost $9,600     Conversion cost $5,575     Units started into production during the period 5,000     Costs added to production during the period:       Materials cost $368,600     Conversion cost $350,900     Ending work in process inventory:       Units in process 400     Completion with respect to materials 40%     Completion with respect to conversion 25%             Enter a formula into each of the cells marked with a ? below             Weighted Average method:               Equivalent Units of Production     Materials Conversion   Units transferred to the next department ? ?   Equivalent units in ending work in process inventory:     Materials ?     Conversion   ?   Equivalent units of production ? ?           Costs per Equivalent Unit     Materials Conversion   Cost of beginning work in process inventory  ?   ?    Costs added during the period  ?   ?    Total cost  ?   ?    Equivalent units of production ? ?   Cost per equivalent unit ? ?           Costs of Ending Work in Process Inventory and the Units Transferred Out   Materials Conversion Total Ending work in process inventory:       Equivalent units ? ?   Cost per equivalent unit ? ?   Cost of ending work in process inventory ? ? ?         Units completed and transferred out:       Units transferred to the next department ? ?   Cost per equivalent unit ? ?   Cost of units transferred out ? ? ?         Cost Reconciliation     Costs to be accounted for:       Cost of beginning work in process inventory  ?      Costs added to production during the period  ?      Total cost to be accounted for  ?      Costs accounted for as follows:       Cost of ending work in process inventory  ?      Cost of units transferred out  ?      Total cost accounted for  ?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Beginning work in process inventory:       
Units in process 200    
Completion with respect to materials 55%    
Completion with respect to conversion 30%    
Costs in the beginning work in process inventory:      
Materials cost $9,600    
Conversion cost $5,575    
Units started into production during the period 5,000    
Costs added to production during the period:      
Materials cost $368,600    
Conversion cost $350,900    
Ending work in process inventory:      
Units in process 400    
Completion with respect to materials 40%    
Completion with respect to conversion 25%    
       
Enter a formula into each of the cells marked with a ? below    
       
Weighted Average method:      
       
Equivalent Units of Production  
  Materials Conversion  
Units transferred to the next department ? ?  
Equivalent units in ending work in process inventory:    
Materials ?    
Conversion   ?  
Equivalent units of production ? ?  
       
Costs per Equivalent Unit  
  Materials Conversion  
Cost of beginning work in process inventory  ?   ?   
Costs added during the period  ?   ?   
Total cost  ?   ?   
Equivalent units of production ? ?  
Cost per equivalent unit ? ?  
       
Costs of Ending Work in Process Inventory and the Units Transferred Out
  Materials Conversion Total
Ending work in process inventory:      
Equivalent units ? ?  
Cost per equivalent unit ? ?  
Cost of ending work in process inventory ? ? ?
       
Units completed and transferred out:      
Units transferred to the next department ? ?  
Cost per equivalent unit ? ?  
Cost of units transferred out ? ? ?
       
Cost Reconciliation    
Costs to be accounted for:      
Cost of beginning work in process inventory  ?     
Costs added to production during the period  ?     
Total cost to be accounted for  ?     
Costs accounted for as follows:      
Cost of ending work in process inventory  ?     
Cost of units transferred out  ?     
Total cost accounted for  ?     
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education