Betty DeRose, Inc. operates two departments, the handling department andthe packaging department. During April, the handling department reportedthe following information:work in process, April 1units started during Aprilwork in process, April 30units27,00059,00034,000work in process, April 1costs added during Apriltotal costs% completeDM60%DM$ 25,310$190,720$216,03070%The cost of beginning work in process and the costs added during Aprilwere as follows:% completeconversion85%Conversion$191,175$208,985$400,16040%Total cost$216,485$399,705$616,190Calculate the total cost of the handling department's work in processinventory at April 30 using the weighted average process costing method.

Cost of ending WIP is $168,367.21 Explanation:

Answered: Betty DeRose, Inc. operates two…

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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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 Transaction Debit amount Transaction Credit amount Bal., 30, 000 units, 40% completed 1,075,500 To Finished Goods, 406, 000 units ? Direct materials, 400, 000 units @ $11.25 4,500,000 Direct labor 4,012, 000 Factory overhead 20,060,000 Bal., ? units, 30% completed ? Cost per equivalent units of $11.25 for Direct Materials and $60.00 for Conversion Costs.
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Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 work in process, April 1 costs added during April total costs units Calculate the conversion costing method. 27,000 59,000 34,000 % complete DM 60% 70% The cost of beginning work in process and the costs added during April were as follows: % complete 85% 40% conversion Conversion $191,175 $208.985 $400,160 DM $ 25,310 $190.720 $216,030 unit cost using the weighted average process Total cost $216,485 $399,705 $616,190
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Pureform, Incorporated, uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 60,000 $ 67,300 $ 11,400 $ 21,000 Units started in process 569,000 Units transferred out 590,000 Work in process inventory, ending 39,000 Cost added during the month $ 985,775 $ 225,800 $ 254,025 The beginning work in process inventory was 90% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 70% complete with respect to materials and 50% complete with respect to labor and overhead. Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Compute the first department's cost per equivalent unit for materials, labor, overhead, and in…
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Easy Incorporated 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. Work in process, beginning: Units in process 1,400 Percent complete with respect to materials 90% Percent complete with respect to conversion 10% Costs in the beginning inventory: Materials cost $ 1,910 Conversion cost $ 1,502 Units started into production during the month 24,600 Units completed and transferred out 24,700 Costs added to production during the month: Materials cost $ 71,821 Conversion cost $ 543,448 Work in process, ending: Units in process 1,300 Percent complete with respect to materials 70% Percent complete with respect to conversion 70% 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.…

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