Carmelita, Inc., has the following information available:Direct materialsConversion costsCosts from Beginning Inventory Costs from Current Period$4,3005,000$23,000151,500At the beginning of the period, there were 600 units in process that were 40% complete as to conversion costs and 100% complete as to direct materials costs. Duringthe period, 4,500 units were started and completed. Ending inventory contained 400 units that were 34% complete as to conversion costs and 100% complete as tomaterials costs. The company uses the FIFO process costing method.The cost of completing a unit during the current period wasOa. $35.02Ob. $30.32Oc. $52.51Od. $42.02

1. Calculation of Equivalent units: Physical unitsDirect materialsConversion costsUnits in Beginning…

Answered: Carmelita, Inc., has the following…

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
A company has 1,900 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 $7 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 Ending work in process inventory $
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
The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.70 and $0.10, respectively. The equivalent units to be assigned costs are as follows: Direct Materials Conversion Inventory in process, beginning of period 3,160 Started and completed during the period 51,950 51,950 Transferred out of Bottling (completed) 51,950 55,110 00 57,810 Inventory in process, end of period 099 Total units to be assigned costs The beginning work in process inventory had a cost of $3,950. Determine the cost of completed and transferred-out production and the ending work in process inventory. When required, round your answers to the nearest dollar. Completed and transferred out production Inventory in process, ending items Previous ( XƏN へ nere to search 9:44 PM 53°F Cloudy (中岁 12/6/2021 a. SU delete 144 ZA pause alt alt ctrl USE YOL
*The cost per equivalent units of direct materials and conversion in the Roasting Department of Robusta Coffee Company are $0.60 and $0.25, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, beginning of period Direct Materials Conversion 0 3,000 Started and completed during the period 52,000 52,000 Transferred out of Roasting (completed) 52,000 55,000 Inventory in process, end of period Total units to be assigned costs 3,500 2,100 55,500 57,100 The beginning work in process inventory had a cost of $6,500. Based on the information provided, the total cost of units completed and transferred-out production is equal to: $54,075 $2,625 $51,450 $44,200
Bonita Company's Assembly Department has materials cost at $5 per unit and conversion cost at $10 per unit. There are 29500 units in ending work in process, all of which are 70% complete as to conversion costs. Materials are added at the beginning of the process. How much are total costs to be assigned to inventory? $442500. $354000. $147500. $206500.
QUESTION 9 10 p The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from the Casting Department The conversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 direct labor). The total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a Beginning Inventory of $25,000 Journalize the cost of transferred out to Finished Goods. Work in Process - Rolling 553,200 Finished Goods 553,200 Finished Goods 553,200 Work in Process - Rolling 553,200 Finished Goods 510,000 Work in Process - Rolling 510,000 Work in Process Rolling 510,000 Finished Goods 510,000
Silva Coporation uses the weighted average process costing method. The Mixing Department at Silva had 17,000 units in beginning inventory. These units contained $70,000 in direct materials, $80,000 in direct labor, and $60,000 in overhead. During the period, the department incurred costs of $320,000 in direct materials, $400,000 in direct labor and $200,000 in overhead and started 80,000 units. Ending inventory consisted of 6,000 units which were 100% complete with respect to direct materials and 50% complete with respect to direct labor and overhead. What is the cost per equivalent unit for direct labor (rounded to the nearest cent)? O $5.28 O $5.11 O $4.94 $0.86
ect materials are added at the beginning of the process. This period began with 5,000 units in ginning inventory that are 25% complete. What are the equivalent units for beginning work in process der the FIFO method? a. Direct materials 5,000; Conversion costs 3,750 b. Direct materials 0; Conversion costs 3,750 c. Direct materials 5,000; Conversion costs 1,250 d. Direct materials 0; Conversion costs 1,250
A production department reports the following conversion costs. Equivalent units of production for conversion total 501,000 for this period. Calculate the cost per equivalent unit of production for conversion. The company uses the weighted-average method. Cost of beginning work in process Costs added this period 251,000 851,200

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