Blue Spruce Company uses the weighted-average process cost system. The Molding Department adds materials at the beginning ofthe process and conversion costs are incurred uniformly throughout the process. Work in process inventory on May 1 was 75%complete and work in process inventory on May 31 was 60% complete as to conversion costs.Complete the Production Cost Report for the Molding Department for the month of May using the above information and theinformation below. (Round unit costs answers to 2 decimal places, e.g. 52.75.)BLUE SPRUCE COMPANYMolding DepartmentProduction Cost ReportFor the Month Ended May 31, 2022Equivalent Units of ProductionConversionCostsQUANTITIESPhysicalUnitsMaterialsUnits to be accounted forWork in process, May 110,080Started into production40,320Total units to be accounted for50,400Units accounted forCompleted and transferred out44.100Work in process, May 316,300

1. **Equivalent Units of Production (EUP)**: This calculation determines how much work has been done…

Answered: Blue Spruce Company uses the…

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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Antoinette Nunally Company uses the weighted average method of process costing. It had 30,000 units in beginning inventory, which were 80% complete as to materials and 65% complete as to conversion. During the month, it started 90,000 units. At the end of the month, 20,000 units were in inventory, which were 60% complete as to materials and 25% complete as to conversion. Cost information is as follows: Beginning work in process inventory: Direct materials costs Conversion costs Total beginning inventory cost Costs added during the month: Direct materials costs Conversion costs Total costs added during the month Total production costs Beginning Inventory Units Started Ending Inventory Equivalent Units of Production Equivalent units completed and transferred out Equivalent units for ending work in process Total equivalent units of production Cost per Equivalent Unit of Production $75.600 90,675 Costs of beginning work in process inventory Costs added during month Total costs 282,800…
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…
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete $ 5,700 $ 1,900 Materials costs 50% Conversion costs 20 A total of 7,000 units were started and 6,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 158,900 $ 120,600 Conversion costs The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs. How many units are in ending work in process inventory in the first processing department at the end of the month?
Bachelet Incorporated uses the weighted-average 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 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: Materials cost Conversion cost Work in process, ending: Units in process Percent complete with respect to materials Percent complete with respect to conversion Required: Using the weighted-average method: 580 72% 58% $ 1,656 $ 5,384 15,100 14,200 $ 30,867 $ 363,441 280 68% 48% 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 units transferred…
Marvellous Inc. uses the weighted-average 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 Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory: Materials cost 800 50% 20% $2,440 $4,928 Conversion cost Units started into production during the month Units completed and transferred out 15,000 15,600 Costs added to production during the month: Materials cost $96,470 $476,362 Conversion cost Work in process, ending: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion 200 50% 90% Using the weighted-average method, a. Determine the equivalent units of production for materials and conversation costs b. Determine the cost per equivalent unit for materials and conversion costs c. Determine the cost of units transferred out of…
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs. Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion Multiple Choice $198,105 $188,805 The total cost transferred from the first processing department to the next processing department during the month is closest to: Note: Round "Cost per equivalent unit" to 3 decimal places. $171,263 1,100 $ 7,500 $ 2,800 $213,795 55% 25%…
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Materials costs Conversion costs Materials costs. Conversion costs A total of 7,800 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Multiple Choice Cost $ 5,200 $ 8,500 $11.58 The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to: $12.21 Percent Complete 60% 55% Cost $ 95,000 $ 169,200
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…
Line following information applies to the questions displayed below.j Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 12,100 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials. Conversion Costs added this month Direct materials Conversion Cost per Equivalent Unit of Production Costs of beginning work in process Costs added this period Total costs + Equivalent units of production Cost per equivalent unit of production Units 3,500 12,100 $ 10,500 5,100 Direct Materials $ Percent Complete for Percent Direct Complete for Materials. Conversion 60% 40% 1,902 19,968 21,870 $ 1,902 1,457 19,968 20,197 80% Calculate the Assembly department's cost per…
Ling Company has two departments, Assembly and Finishing. Consider the following data for the Assembly Department Beginning work in process Started during the month Completed during the month Ending work in process Costs added during month Units 3,300 19,300 16,300 6,300 Direct Direct % Complete Material Labor Overhead 90% b. Calculate the cost per equivalent unit. Note: Round your answer to 4 decimal places. 60% a. Equivalent units b. Cost per equivalent unit c. Costs transferred out d. Ending inventory cost $13,000 $8,050 $4,310 a. Compute the number of total equivalent units for the Assembly Department. Ling uses the weighted average method to determine equivalent units. c. Compute the amount of costs that should be transferred to the Finishing Department. Note: Round your answer to the nearest cent. d. Compute the amount of costs that should be assigned to the 6,300 units in ending inventory. Note: Round your answer to the nearest cent. per unit Total $2,735 $25,360
Idaho Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory Units in beginning work in process inventory 700 materials costs $8,600 conversion costs $15,600 Percent complete with respect to materials 70% Percent complete with respect to conversion 50% Units started into production during the month 7,000 Units transferred to the next department during the month 6,200 Materials costs added during the month $97,600 Conversion costs added during the month $253,200 Ending work in process inventory Units in ending work in process inventory 1,500 Percent complete with respect to materials 90% Percent complete with respect to conversion 15% What are the equivalent units for conversion costs for the month in the first processing department? Group of answer choices 6,425 6,200 225 7,700
Brite Toothbrushes has gathered the following information to complete its Production Report for the month of April. Assume all materials are added at the beginning of the process. Required: Using the provided information, complete the report. (Round cost per Equivalent Units to 2 decimal places.) Brite Toothbrushes Process Costing Production Report (Welghted Average Method) Assembly Department For the Month Ended April 30, XXXX UNITS Physical Units Units to be accounted for Beginning work in process 50% complete as to conversion 9,000 Started into production 61,500 Total units 70,500 Equivalent Units Direct Materials Conversion Cost Units accounted for: Completed and transferred out 58,000 12,500 70,500 58,000 58,000 Ending work in process 30% complete as to conversion 12,500 3,750 Total units 70,500 61,750 COSTS Direct Materials Conversion Cost Total Cost Cost of beginning work in process 49,000 $ 14,000 $ 63,000 Current period costs

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