Carla Vista Manufacturing Company has the following production data for selected months.MonthJanuaryMarchJulyBeginningWork in ProcessInventory-0-Physical units-0--0-Units Completedand TransferredOut29,800January37,050Calculate the physical units for each month.37,000Ending Work in ProcessUnits12,0008,70016,550March% Complete in Termsof Conversion Costs40%72%39%July

The physical units are the units that are to be accounted for the production process. The physical…

Answered: Carla Vista Manufacturing Company has…

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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Concord Company has the following production data for January Beg. Work in Process Inv. Units Started into Production 9,690 Compute the physical units for January. Beginning work in process inventory Started into production Total units to be accounted for Completed and transferred out Ending work in process inventory End. Work in Process Inventory % Complete as to Conversion Cost Total units accounted for Units 1.300 30% Attempts: 0 of 1 used Submit Answer
Data for July: Work-in-process inventory, July 1 (38,500 units): Direct materials (95% completed) Conversion (55% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (95% completed) Conversion (55% completed) Cost incurred during July: O Direct materials Conversion costs Cost per equivalent unit for conversion under the FIFO method is calculated to be: Multiple Choice $2.94 $ 122,650 77,100 $ 199,750 $2.35. 92,500 106,750 24,250 $ 182,500 290,500
Running Company had the following information for the month of June: Work in process beginning inventory, June 1 2,000 units Units transferred in 16,000 units Work in process ending inventory, June 30 4,000 units Beginning work-in-process inventory is 30 percent complete as to conversion. Ending work-in-process inventory is 50 percent complete as to conversion. Materials are added at the end of the process. How many units were completed in June?
Equivalent Units of Materials Cost The Rolling Department of Oak Ridge Steel Company had 2,600 tons in beginning work in process inventory (50% complete) on July 1. During July, 42,800 tons were completed. The ending work in process inventory on July 31 was 2,100 tons (90% complete). What are the total equivalent units for direct materials for July if materials are added at the beginning of the process? X units Feedback
Running Company had the following information for the month of June Work in process beginning inventory, June 1 Units transferred in Work in process ending inventory, June 30 3,600 units 14,200 units 3,400 units Beginning work-in-process inventory is 30 percent complete as to conversion. Ending work-in-process inventory is 50 percent complete as to conversion Materials are added at the end of the process. How many units were completed in June?
Equivalent units of materials costs The Rolling department of kraus steel company had 5,100 tons in beginning work in process inventory ( 60% complete) on October 1st. During October, 84500 tons were completed. The ending work in process inventory on October 31 was 4,200 tons (10% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process? ________ UNITS
4 Running Company had the following information for the month of June Work in process beginning inventory, June 1 Units transferred in Work in process ending inventory, June 30 Beginning work-in-process inventory is 30 percent complete as to conversion. Ending work-in-process Inventory is 50 percent complete as to conversion. Materials are added at the end of the process. 2,900 18,700 4,900 units units units The equivalent units for materials under the weighted-average method are calculated to be: OA) 14.250 OB) 10,000 OC 16.700 OD 10,150 E21,150
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[The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April. Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 82,000 70% 30% Units started this period 432,000 Completed and transferred out 410,000 Ending work in process inventory 104,000 85% 35% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Equivalent units of production: Weighted average method Units Direct Materials Conversion Percent Complete EUP Percent Complete EUP Beginning work in process inventory Ending work in process Total
The Assembling Department of Fletcher Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete                       $100,000 Conversion costs: 25% complete                            85,700 Cost of work in process, April 1              $185,700 Costs incurred during production in April             Direct materials                                                            $ 708,000 Conversion costs                                                                300,000 Costs incurred in April                                                   $1,008,000 Units transferred out totaled 18,000. Ending work in process was 2,000 units that are 100% complete as to materials and 50% complete as to conversion costs. Instructions Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April. (b) Compute the unit costs for the month. (c) Determine the…
Peter Senen Manufacturing Company has just completed its production activities for February 2019. The production manager furnished you their data for this month:                                                                            Department X                                   Department Y Quantity units:                In process, February 1                          16,000                                                10,000                Stage of completion                              4/5                                                       40%                Started in process                                  64,000                Received from prior dept.                                                                               70,000                In process, February 28                           ?                                                       12,000                Stage of completion                              2/5…
Process costing system: Use weighted average method to prepare cost of production report for April (must show calculations or no credit; round off unit costs to 3 decimal places) April 1 beginning inventory/WIP                                    800 units During April units started:                                          10,000 units April 30, ending inventory/WIP                                      1,800 units Completion rates:         April 1 direct materials: 75%;   conversion costs: 40%                                     April 30 direct materials: 30%;   conversion costs: 20% Work-in-Process account cost information: Beginning inventory – direct materials                                       $   22,000 Beginning inventory – conversion costs                                           35,000 April direct materials used                                                              50,000 April conversion costs…

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