Calculate conversion cost given the following information: Account Balance (Alphabetical Order) ($) Direct Labor Cost 400 Direct Material Cost Finished Goods Inventory-Beginning Balance Finished goods Inventory-Ending Balance Manufacturing Overhead Cost Work in Process- Beginning Balance Work in Process-Ending Balance 500 200 180 300 150 100 Select one: O a. $800. Ob. $1,000. OC. $700. O d. $1,700. O e. $900.

Calculate conversion cost given the following information: Account Balance (Alphabetical Order) ($) Direct Labor Cost 400 Direct Material Cost Finished Goods Inventory-Beginning Balance Finished goods Inventory-Ending Balance Manufacturing Overhead Cost Work in Process- Beginning Balance Work in Process-Ending Balance 500 200 180 300 150 100 Select one: O a. $800. Ob. $1,000. OC. $700. O d. $1,700. O e. $900.

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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(b) x Your answer is incorrect Following the weighted-average method of process costing, determine the following 1. Total costs to account for in this assembly department. $ 2. The cost per equivalent unit for DM. 3. The cost per equivalent unit for conversion costs. w Transcribed Text No. Account Titles and Explanation (2) WIP Inventory-Assembly RM Inventory WIP Inventory-Assembly Salaries and Wages Payable MOH Control w Transcribed Text Total equivalent units of work done DM J 3,310 $ $ C Conversion Costs 2.750 226660 32 Debit per unit per unit 120,990 42750 Credit As Nash Manufacturing produced bookshelves this month, its accountants were in contact with production managers to keep tabs on costs. The WIP Inventory-Assembly account had a beginning balance as follows: DM costs of $41,200 and conversion costs of $31,500. Additional DM costs were added to this assembly department this month totaling $120.990, along with conversion costs of $42.750. Direct materials were pulled from RM…
keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false E Print Item Sitka Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for one ladder (unit): Standard Standard Standard %3D Quantity Price Cost Direct materials 3 pounds $4.50 per pound $13.50 Direct labor 2.00 hours 12.00 per hour 24.00 Total cost $37.50 Sitka Industries made 3,100 ladders in July and used 9,200 pounds of material to make these units. Sitka Industries bought 15,600 pounds of material in the curr period. There was a $300 unfavorable direct materials price variance. Enter all amounts as positive numbers. A. How much in total did Sitka pay for the 15,600 pounds? Amount paid B. What is the direct materials quantity variance? Direct materials quantity variance $ C. What is the total direct materials cost variance? Total direct materials cost variance $ D. What if 9,800 pounds were used to make these…
TB MC Qu. 16-158 (Algo) Compute the number of equivalent units... Compute the number of equivalent units with respect to conversion using the weighted-average method. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Units 40,000 140,000 180,000 28,000 Direct Materials Conversion Percent Percent Complete 100% 100% Complete 35% 50%
Weat Subject: accounting
Complete the information in the cost computations shown here: Raw materials Beginning inventory Purchases Materials available for use Ending inventory Materials used in production Work in process inventory Beginning inventory Materials used in production Direct labor Overhead applied Manufacturing costs incurred Ending inventory Cost of goods manufactured Finished goods inventory Beginning inventory Cost of goods manufactured Goods available for sale Ending inventory Cost of goods sold $341 1,533 323 $931 1,536 $22,450 936 $25,008 $21,792
Using the following terms and following the format in the textbook, prepare the worksheet to show the calculation to answer the question: Units completed and transferred Cost per material Cost per conversion out Equivalent units conversion Beginning inventory Units started in production Total units to account for Total work in process Ending inventory Units transferred in Total units accounted for Costs to account for Question: How many units were started into production in a period if there were zero units of beginning work in process inventory, 1,100 units in ending work in process inventory, and 21,500 completed and transferred out units? PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Term Units
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PAS. LO 4.5 Complete the information in the cost computations shown here: Raw Materials Work in Pracess nventory $ 342 S 92 Beginning imventory Purchases Materials avalable for use Ending inentory Beginning inventory Materials used in production Drect labor 1,533 1,535 Overhead applied Manufacturing costs incurred Ending inventory 321 22441 Materials used in production Cost of Geods Marufactured Finished Goods Inventory Beginning inventory Coot of Goeds Mandactured Goods Available for Sale Ending inventory Cost of Goods Sold $25,002 21.788 ANSWER Raw Materials Beginning inventory Purchases Material available for use Ending inventey Materials used in production Work in Process Iaventory Beginning inventory Materials used in production Direct labor Overhead applied Manufacturing costs incurred Ending inventory Cast of goods manufactured Finished Goods Iaventory Beginning inventory Cast of goods manufactured Goods available for sale Ending inventory Cost of goods sold