Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,000 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 Beginning work in process To complete beginning work in process Direct materials Conversion Started and completed Direct materials Conversion Completed and transferred out Ending work in process Direct materials Conversion Units Total costs accounted for 2,000 10,000 9,000 3,000 Percent Complete for Direct Materials 60% 10,404 12,285 CARLBERG COMPANY $ 996 585 Cost assignment-FIFO EUP Assign costs to the Assembly department's output-specifically, the units transferred out to the Painting department and the units th remain in work in process in the Assembly department at month-end. Use the FIFO method. Note: Do not round intermediate calculations. 80% $ 1,581 22,689 Percent Complete for Conversion 40% Cost per EUP 30% Total Cost 9,450 $ $ 0 9,450 9,450 0 9.450
Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,000 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 Beginning work in process To complete beginning work in process Direct materials Conversion Started and completed Direct materials Conversion Completed and transferred out Ending work in process Direct materials Conversion Units Total costs accounted for 2,000 10,000 9,000 3,000 Percent Complete for Direct Materials 60% 10,404 12,285 CARLBERG COMPANY $ 996 585 Cost assignment-FIFO EUP Assign costs to the Assembly department's output-specifically, the units transferred out to the Painting department and the units th remain in work in process in the Assembly department at month-end. Use the FIFO method. Note: Do not round intermediate calculations. 80% $ 1,581 22,689 Percent Complete for Conversion 40% Cost per EUP 30% Total Cost 9,450 $ $ 0 9,450 9,450 0 9.450
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Concept explainers
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Transcribed Image Text:Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,000
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
Beginning work in process
To complete beginning work in process
Direct materials
Conversion
Started and completed
Direct materials
Conversion
Completed and transferred out
Ending work in process
Direct materials
Conversion
Units
Total costs accounted for
2,000
10,000
9,000
3,000
Percent
Complete for
Direct
Materials
60%
10,404
12,285
CARLBERG COMPANY
$996
585
Cost assignment-FIFO
EUP
Assign costs to the Assembly department's output-specifically, the units transferred out to the Painting department and the units that
remain in work in process in the Assembly department at month-end. Use the FIFO method.
Note: Do not round intermediate calculations.
80%
$ 1,581
22,689
Percent
Complete for
Conversion
40%
Cost per EUP
30%
Total Cost
9,450
$
0
9,450
9,450
0
9,450
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