Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for onedepartment for October:Percent CompletedUnitsMaterialsConversionWork in process, October 1Work in process, October 3145, 00027,00085%65%69%46%The department started 389,000 units into production during the month and transferred 407,000 completed units to the nextdepartment.Required:Compute the equivalent units of production for October.cesMaterialsConversionEquivalent units of production

Process costing system is a costing method in which product has to go through several stages in…

Answered: Clonex Labs, Inc., 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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Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 49,000 95% 60% Work in process, October 31 31,000 68% 49% The department started 391,000 units into production during the month and transferred 409,000 completed units to the next department. Required: Compute the equivalent units of production for October.
Lenning Corporation uses the FIFO method in its process costing. The following data pertain to its Assembly Department for August. Percent Complete Materials Conversion 45% Work in process, August 1 Units started into production during August Units completed during August and transferred to the next department Work in process, August 31 Units 500 9,600 sex 8,600 1,500 65% 30% D Required: Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for August using the FIFO method Materials Conversion Equivalent units of production
Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Units 52,000 32,000 Equivalent units of production Percent Completed Conversion 60% 50% Work in process, October 1 Work in process, October 31 The department started 395,000 units into production during the month and transferred 415,000 completed units to the next department. Materials 90% 73% Required: Compute the equivalent units of production for October. Materials Conversion
ok t t nces Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Work in process, October 1 Work in process, October 31 Units 51,000 27,000 Equivalent units of production JUN 28 Percent Completed Conversion Materials The department started 390,000 units into production during the month and transferred 414,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials 95% 66% Conversion ave & Exit A Check m
Clonex Labs, Incorporated, uses the weighted - average method of process costing. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 51, 000 95% 65% Work in process, October 31 38,000 66% 47% The department started 397,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October.
ework i Saved Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 Work in process, October 31 48,000 27,000 90% 74% 55% 49% The department started 389,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October. Equivalent units of production Materials Conversion
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for September: Work in process, September 1 Work in process September 30 Started into Production during September O 247,000 O 232,000 O 265,000 Units O 238,000 75,000 70,000 200,000 Percent Completed What is the equivalent units of production for materials for September? Materials 80% 60% Conversion 50% 40%
< Clonex Labs, Incorporated, uses the weighted-average method of process costing. The following data are available for one department for October: Percent Completed Units Materials Work in process, October 1 Work in process, October 31 54,000 35,000 95% 71% Conversion 65% 45% The department started 392,000 units into production during the month and transferred 411,000 completed units to the next department. Required: Compute the equivalent units of production for October. Equivalent units of production Materials Conversion
The information below was obtained from the records of the first processing department of California Corporation for the month of July. The company uses the weighted-average method in its process costing system. units percent completed: Labor and overhead work in process inventory, July 1 20,000 40% started during the month 70,000 completed during the month 80,000 Work in process inventory, July 31 ? 25% All materials are added at the beginning of the manufacturing process. The equivalment units for labor and overhead for the month is: 70,000 90,000 80,000 82,500
Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,600 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $678,234 in total. The ending work in process inventory in January consisted of 3,400 units, which were 70% complete with respect to materials and 50% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Materials Labor Cost per equivalent unit Required: $ 13.80 $ 3.20 Overhead $ 7.50 1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January. 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in…
Pureform, Incorporated, uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow. Units 76,000 Materials $ 68,400 Labor $ 30,200 Overhead $ 41,900 Work in process inventory, beginning Units started in process 719,000 Units transferred out 740,000 Work in process inventory, ending 55,000 Cost added during the month $ 984,725 $ 372,370 $ 517,225 The beginning work in process Inventory was 90% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 70% complete with respect to materials and 10% complete with respect to labor and overhead. Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Determine the first department's cost per equivalent unit for materials, labor, and overhead for the month. (Round your answers to…
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