Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,500 units. The costs and percentage completion of these units in beginning inventory were:PercentCostCompleteMaterials costs$ 7,100Conversion costs$ 10,40060%55%A total of 10,650 units were started and 9,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:Materials costsConversion costsCost$ 96,900$ 171,100The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs.How many units are in ending work in process inventory in the first processing department at the end of the month?Multiple Choice1,6501,8504.1508,1501

The objective of the question is to find out the number of units in the ending work in process…

Answered: Carpenter Corporation uses the…

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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Acme Company uses process costing. During the current month, the first processing department had 650 units in beginning work in process inventory, started 6,200 units into production, and completed and transferred out 5,800 units. Here are data regarding costs: Beginning WIP inventory Costs added during the month Total production costs 40% If the cost per equivalent unit for direct materials is $48, what is the percentage of completion with respect to direct materials for the units in ending work in process inventory? 50% 60% Direct materials $ 8,260 290,300 $298,560 O 70% Conversion costs $ 25,700 385,550 $411,250
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 14,500 units, 100% complete with respect to materials cost and 30% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $23,800. A total of 46,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.90 for materials and $3.70 for conversion costs. The total cost of the units completed and transferred out of the department was: Multiple Choice O C $206,540 $257,600 $244,095 $271,645
Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 15,700 75% Conversion costs $ 7,700 20% A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 186,300 Conversion costs $ 329,800 The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost of ending work in process inventory in the first processing department according to the company’s cost system is closest to: (Round "Cost per equivalent unit" to 3 decimal places.)
Pham Corporation uses the weighted-average method in its process costing system. The following data were taken from the records of the first processing department for a recent month. Work in process, beginning: Units in process 30 Percent complete with respect to materials 60% Percent complete with respect to conversion 50% Costs in the beginning inventory: Materials cost $6,190 Conversion cost $16,290 Units started into production during the month 180 Costs added to production during the month: Materials cost $42,380 Conversion cost $136,330 Work in process, ending: Units in process220 20 Percent complete with respect to materials 50% Percent complete with respect to conversion 40% Cost per equivalent unit: Material $216 Conversion $710 Required: Enter the missing numbers, rounded to the nearest whole number. a.What was the cost of the ending work in process inventory in the…
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process Inventory In Its Painting Department consisted of 3,400 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process Inventory in the department was recorded as $10,200. During the period, 9,400 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $5.40 for material and $6.40 for conversion costs. The cost of units transferred out during the month was: Multiple Choice $83,600 О $110,920 $66,000 $60,160
Eastern Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: cost Percent complete Materials costs $3,900 65% Conversion costs $10,200 35% A total of 5,700 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs $44,800 Conversion costs $206,900 The ending inventory was 75% complete with respect to materials and 20% complete with respect to conversion costs. What are the equivalent units for conversion costs for the month in the first processing department? 5,020 6,300 4,700 320
Hache Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 17,550 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $7,920. An additional 90,100 units were started into production during the month and 93,100 units were completed in the Welding Department and transferred to the next processing department. There were 14,550 units in the ending work in process inventory of the Welding Department that were 90% complete with respect to conversion costs. A total of $203,500 in conversion costs were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to: Multiple Choice A. $2.020 B. $2.255 C. $1.991 D. $2.329
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete $ 5,700 $ 1,900 Materials costs 50% Conversion costs 20 A total of 7,000 units were started and 6,300 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 158,900 $ 120,600 Conversion costs The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs. How many units are in ending work in process inventory in the first processing department at the end of the month?
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,600 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $9,400. During the period, 8,600 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.60 for material and $5.60 for conversion costs. The cost of units transferred out during the month was: Multiple Choice A. $48,160 B. $64,400 C. $87,720 D. $82,000
Marvellous Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: Work in process, beginning: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Costs in the beginning inventory: Materials cost 800 50% 20% $2,440 $4,928 Conversion cost Units started into production during the month Units completed and transferred out 15,000 15,600 Costs added to production during the month: Materials cost $96,470 $476,362 Conversion cost Work in process, ending: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion 200 50% 90% Using the weighted-average method, a. Determine the equivalent units of production for materials and conversation costs b. Determine the cost per equivalent unit for materials and conversion costs c. Determine the cost of units transferred out of…
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Materials costs Conversion costs Materials costs. Conversion costs A total of 7,800 units were started and 7,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Multiple Choice Cost $ 5,200 $ 8,500 $11.58 The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to: $12.21 Percent Complete 60% 55% Cost $ 95,000 $ 169,200
Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 5,400 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 69,500 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 35,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month? Multiple Choice 99,100 60,900 57,120 39,900

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