Carmelita, Inc., has the following information available: Costs from Beginning Inventory $4,600 5,300 146,100 At the beginning of the period, there were 400 units in process that were 42% complete as to conversion costs and 100% complete as t direct materials costs. During the period, 5,000 units were started and completed. Ending inventory contained 400 units that were 28% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process costing method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. The total costs that will be transferred into Finished Goods for units started and completed were O a. $157,700 Ob. $113,544 c. $218,004 O d. $170,316 Direct materials Conversion costs Costs from Current Period $22,700

Carmelita, Inc., has the following information available: Costs from Beginning Inventory $4,600 5,300 146,100 At the beginning of the period, there were 400 units in process that were 42% complete as to conversion costs and 100% complete as t direct materials costs. During the period, 5,000 units were started and completed. Ending inventory contained 400 units that were 28% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process costing method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. The total costs that will be transferred into Finished Goods for units started and completed were O a. $157,700 Ob. $113,544 c. $218,004 O d. $170,316 Direct materials Conversion costs Costs from Current Period $22,700

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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A company has 1,300 units in ending work in process that are 30% complete after transferring out 12,000 units. All materials are added at the beginning of the process. If the cost per unit is $3 for materials and $6 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out $fill in the blank 1 Ending work in process inventory $fill in the blank 2
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Carmelita Inc., has the following information available: Direct materials Conversion costs Costs from Costs from Beginning Inventory Current Period $2,000 6,200 $22,252 150,536 At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 340 units that were 30% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The equivalent units of production for direct materials and conversion costs, respectively, were a. 5,340 for direct materials and 4,902 for conversion costs b. 4,902 for direct materials and 4,802 for conversion costs c. 4,602 for direct materials and 4,802 for conversion costs d. 4,840 for direct materials and 4,802 for conversion costs
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Loanstar had 50 units in beginning inventory before starting 900 units and completing 750 units. The beginning work in process inventory consisted of $2,000 in materials and $5,000 in conversion costs before $8,450 of materials and $9,450 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 50% complete with regard to conversion costs. Use the above information to complete a production cost report. Enter all amount as positive values. Production Cost Report Work in process completion percent 100% 50% Material Units Conversion Units Total UnitS Completed and transferred out Ending work in process Total units to account for Materials Conversion Total Costs to account for $4 $4 Beginning work in process Incurred during the period $4 Total costs to account for Equivalent units Cost per equivalent unit for department $ %24 %24 %24
Carmelita, Inc., has the following information available: Costs from Beginning Inventory Direct materials. Conversion costs $5,000 5,200 Costs from Current Period The cost of completing a unit during the current period was Oa. $45.95 Ob. $36.76 Oc. $30.63 Od. $25.62 $29,600 149,800 At the beginning of the period, there were 400 units in process that were 40% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,500 units were started and completed. Ending inventory contained 400 units that were 27% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process costing method.
shobha
Subject: accounting
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