Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the miningindustry. The following information pertains to operations for November. (CMA adapted) \table[[, Units], [Work in process, November 1st, 16, 400], [Started in production during November, 104, 000], [Work inprocess, November 30th, 24, 400]] The beginning inventory was 60% complete as to materials and 20%complete as to conversion costs. The ending inventory was 90% complete as to materials and 40%complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: directmaterials, $54,960; direct labor, $20, 720; manufacturing overhead, $15, 640. Costs incurred during themonth: direct materials, $472, 000; direct labor, $186, 880; manufacturing overhead, $395, 160. What is theequivalent unit cost for the conversion costs assuming Bentley uses first - in, first - out (FIFO) processcosting? Multiple Choice $5.98 Chas Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The following informationpertains to operations for November. (CMA adapted)Work in process, November 1stStarted in production during NovemberWork in process, November 30thThe beginning inventory was 60% complete as to materials and 20% complete as to conversion costs. The ending inventory was 90% completeas to materials and 40% complete as to conversion costs.Multiple ChoiceUnitsCosts pertaining to November are as follows:Beginning inventory: direct materials, $54,960, direct labor, $20,720; manufacturing overhead, $15,640.Costs incurred during the month: direct materials, $472,000; direct labor, $186,880; manufacturing overhead, $395,160.What is the equivalent unit cost for the conversion costs assuming Bentley uses first-in, first-out (FIFO) process costing?$5.9816,400104,00024,400$5.68

Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The following information pertains to operations for November. (CMA adapted) Work in process, November 1st Started in production during November Work in process, November 30th The beginning inventory was 60% complete as to materials and 20% complete as to conversion costs. The ending inventory was 90% complete. as to materials and 40% complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: direct materials, $54,960, direct labor, $20,720; manufacturing overhead, $15,640. Costs incurred during the month: direct materials, $472,000; direct labor, $186,880, manufacturing overhead, $395,160. What is the equivalent unit cost for the conversion costs assuming Bentley uses first-in, first-out (FIFO) process costing? Multiple Choice $5.98 Units 16,400 104,000 24,400 2550

Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The following information pertains to operations for November. (CMA adapted) Work in process, November 1st Started in production during November Work in process, November 30th The beginning inventory was 60% complete as to materials and 20% complete as to conversion costs. The ending inventory was 90% complete. as to materials and 40% complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: direct materials, $54,960, direct labor, $20,720; manufacturing overhead, $15,640. Costs incurred during the month: direct materials, $472,000; direct labor, $186,880, manufacturing overhead, $395,160. What is the equivalent unit cost for the conversion costs assuming Bentley uses first-in, first-out (FIFO) process costing? Multiple Choice $5.98 Units 16,400 104,000 24,400 2550

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

The JG Company uses JIT operating system with backflush costing. During the month of October, direct material costing P100,00 was used for completed work with conversion costs of P500,000. At the end of the month, P100,000 was assigned to work in process inventory account. The ending balance of finished goods inventory was P150,000. Required: a. The cost charged to the company's cost of goods sold b. The ending balance of cost of goods sold
Bixby Carpet Manufacturing Inc. uses a process costing system and calculates per-unit costs using the weighted average method. The following data relates to the first production department (the Weaving Department) of its Rayon carpet brand for the month of November. Note that since carpet is sold by the square yard, each “unit” refers to a square yard of carpet: Beginning Work in Process Inventory: 300 units, 40% complete with respect to conversion. Ending Work in Process Inventory: 400 units, 25% complete with respect to conversion. All direct materials are added at the beginning of the process, and conversion costs are assumed to be incurred uniformly throughout production. The cost of direct materials in beginning Work in Process Inventory was $21,200, and conversion costs in beginning Work in Process were $4,900.During the month, $110,800 of direct materials were added to production. Direct labor for the period was $23,120. Overhead is allocated on at 25% of direct…
Vikram Bhai
Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. TI uses process costing. WIP Inventory Processing Department: August 1 Quantity (60% complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 1 Current production and costs (August) Units started Current costs Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total current cost: August WIP Inventory Processing Department (August 31) Quantity (20 % complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 31 Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period Total units to account for Units accounted for: Completed and transferred out Units in ending…
Please help me
McGregor's Hot Sauce uses a process costing system to determine its product's cost. The last of the three processes is packaging. The Packaging Department reported the following information for the month of July: (Click the icon to view the reported information for July.) The units in ending work in process inventory were 90% complete with respect to direct materials but only 60% complete with respect to conversion. Requirement Summarize the flow of physical units and compute output in terms of equivalent units in order to arrive at the missing figures (a) through (1). McGregor's Hot Sauce Packaging Department Month Ended July 31 Flow of Production Units to account for: Beginning work in process, July 1 Plus: Transferred in during July Total physical units to account for Units accounted for: Completed and transferred out during July Plus: Ending work in process, July 31 Total physical units accounted for Total Equivalent Units Step 1: Flow of Physical Step 2: Equivalent Units Units…
Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Units completed and transferred out Costs added to production during the month: Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent…
Domestic
Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department Percentage completion of beginning inventory Percentage completion of ending Inventory 390 4,330 320 4,408 Materials $18.00 The cost of beginning Inventory according to the company's costing system was $7,880 of which $4,807 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $179.771. The costs per equivalent unit for the month were: Conversion $ 23,00 Materials 70% 70% Cost per equivalent unit Required: 1. Compute the total cost per equivalent unit for the month. Conversion 30x 40x 4
Cranbrook Textiles Company makes silk banners and uses the weighted-average method of process costing. Direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of at zero net disposal value. (Click the icon to view the process costing data.) Determine the equivalent units of work done in July, and calculate the cost of units completed and transferred out (including normal spoilage), the cost of abnormal spoilage, and the cost of units in ending inventory. - X Data table Physical Units Direct Conversion Enter the physical units in first, then calculate the equivalent units. (Banners) Materials Costs 1,300 $195,000 $8,000 Work in process, (July 1)" Started in July 2020 Good units completed and transferred out in July Normal spoilage Abnormal spoilage Physical 37,500 20,500 9,000 Flow of Production Units Work in process beginning…
The Finishing Department had 5,100 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 40 % complete as to conversion costs. 15,200 units were received from the previous department. The ending Work-in- Process Inventory consisted of 2,100 units which were 50% complete as to materials and 40% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing. What are the equivalent units of production for materials during the period? Multiple Choice 13,100. 15,200. 14,150. 12,200.
Rahul