QuantityScheduleEquivalent UnitsMaterials ConversionQuantity Schedule and Equivalent UnitsUnith te pe accounted forWo in process, beg.Sreel in processs during the periodTotaldeIni arounted forCompleted and transferred outFromaerk in process, begfrem started in process during the periodWork in process, endTotalTe and Unt CostsCostsTotalMaterials ConversionCost to be accounted forWork in process, begAdded this periodTotil cost to be accounted forCoit per equivalent unitCostacrounted forCompleted and transferred out:From work in process inventory beg:Cost to complete:mcaecoFrom stated during the periodWork in proces, end:MaterialsConversion coo costsTotal cost accounted fornded oll ligure/saueeze figure Score:Professor:SectiontoJersionorcise I-SetRQuantity Schedulets to be accounted for:Work in process, August 1 (75% materials.40% conversion cost added last month)120Started this monthTotal units to be accounted for560680ersionCeits accounted for as follows:Transferred to the next process600Work in process, August 31 (50% materials,25% conversion cost added this month)Total units accounted for00-80680Costs in the beginning work in process inventory were:MaterialsP114,000Conversion costCosts added during August were:32,000Materials718,000Conversion cost402,000Required1. Compute the total cost for August.2. Compute the unit cost for August.* Compute the cost of completed goods and transferred out.* Compute the cost of work in process end.E use the table at the backchodule for the first process follows:

The total cost of producing a product, including raw materials and operating costs, is detailed in a…

cise II-Set R Quantity Schedule s to be accounted for: Work in process, August I (75% materials, 40% conversion cost added last month) 120 Started this month Total units to be accounted for 560 680 s accounted for as follows: Transferred to the next process 600 Work in process, August 31 (50% materials, 25% conversion cost added this month) Total units accounted for 80 680 s in the beginning work in process inventory were: Materials Conversion cost s added during August were: P114,000 32,000 Materials 718,000 Conversion cost 402,000 ired 1. Compute the total cost for August. 2. Compute the unit cost for August. * Compute the cost of completed goods and transferred out. 4. Compute the cost of work in process end. use the table at the back

cise II-Set R Quantity Schedule s to be accounted for: Work in process, August I (75% materials, 40% conversion cost added last month) 120 Started this month Total units to be accounted for 560 680 s accounted for as follows: Transferred to the next process 600 Work in process, August 31 (50% materials, 25% conversion cost added this month) Total units accounted for 80 680 s in the beginning work in process inventory were: Materials Conversion cost s added during August were: P114,000 32,000 Materials 718,000 Conversion cost 402,000 ired 1. Compute the total cost for August. 2. Compute the unit cost for August. * Compute the cost of completed goods and transferred out. 4. Compute the cost of work in process end. use the table at the back

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total Drawing Department 6,600 units, 50% completed 5,000 units, 50% completed 2,600 units, 10% Broduction begins in the Drawing Department and finishes h the Winding Department. 90,400 units a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and onversion Equivalent Units of Production For June Inventory in process, June 1 Started and completed in June Transferred to finished goods in June…
Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out. Ending work in process inventory Beginning work in process inventory Direct materials Units The production department had the cost information below. Conversion Costs added this period Direct materials Conversion Total costs to account for 60,000 322,000 300,000 82,000 $ 118,472 48,594 850,368 649,296 Direct Materials Conversion Percent Complete 60% 80% $ 167,066 1,499,664 $1,666,730 a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 40% 30%
Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 67,000 357,000 335,000 89,000 Completed and transferred out Ending work in process Total Direct Materials Percent Units 335,000 89,000 424.000 Complete Percent Complete 70% 30% 85% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Conversion Equivalent units of production: Weighted average method Direct Materials Percent Complete 85% 35% EUP Percent Complete Conversion EUP
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.55 and $2.55, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 4,100 Started and completed during October 59,000 59,000 Transferred out of Rolling (completed) 59,000 63,100 Inventory in process, October 31 7,000 3,500 Total units to be assigned costs 66,000 66,600 The beginning work in process inventory on October 1 had a cost of $2,500. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.70 and $2.40, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials 0 Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs 72,000 The beginning work in process inventory on October 1 had a cost of $2,900. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 65,000 65,000 7,000 Equivalent Units Conversion 4,600 65,000 69,600 S 2,800 72,400
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $2.35 and $0.70, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Equivalent Units Direct Materials 0 Equivalent Units Conversion 3,200 54,000 54,000 54,000 7,000 Total units to be assigned costs 61,000 The beginning work in process inventory on October 1 had a cost of $2,080. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 57,200 2,100 59,300
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $2.30 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 1,500 Started and completed during October 30,000 30,000 Transferred out of Rolling (completed) 30,000 31,500 Inventory in process, October 31 3,000 1,800 Total units to be assigned costs 33,000 33,300 The beginning work in process inventory on October 1 had a cost of $920. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production 181,000 x Inventory in process, October 31 Total costs assigned by the Rolling Department Feedback TCheck My Work The assumption would be that units that had been in beginning work in…
Need answer
Help