Clonex Labs, Incorporated, uses the FIFO method of process costing. The following data are available for one department for October:Work in process, October 1Work in process, October 31Units26,00014,000Percent CompletedMaterials58%76%Conversion27%44%The department started 174,000 units into production during the month and transferred 186,000 completed units to the nextdepartment.Required:Compute the equivalent units of production for materials and conversion for October.Equivalent units of productionMaterials Conversion

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Answered: Clonex Labs, Incorporated, uses the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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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
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
Clonex Labs, Incorporated, uses the weighted-average method of process costing. The following data are available for one department for October: Work in process, October 1 Work in process, October 31 Percent Completed Units 49,000 30,000 Materials 95% 72% Conversion 60% 51% The department started 394,000 units into production during the month and transferred 413,000 completed units to the next department. Required: Compute the equivalent units of production for October. Equivalent units of production Materials Conversion
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 49,000 29,000 Equivalent units of production Percent Completed Materials 85% 70% The department started 391,000 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. Materials Conversion 55% 49% Conversion
Sarfina Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below: Units Percent Complete with Respect to Conversion Beginning work-in-process inventory 15,000 20 % Transferred in from the prior departmentduring September 89,000 Ending work-in-process inventory 24,000 90 % According to the company's records, the conversion cost in beginning work-in-process inventory was $15,660 at the beginning of September. Additional conversion costs of $526,524 were incurred in the department during the month.What would be the cost per equivalent unit for conversion costs for September? (Round your answer to 3 decimal places.) $5.220. $5.916. $5.213. $5.340.
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: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 59,000 Materials $ 61,600 Labor $ 15,700 Overhead $ 29,100 559,000 580,000 38,000 $ 815,215 $ 193,285 $ 359,015 ces The beginning work in process inventory was 85% complete with respect to materials and 70% complete with respect to labor and overhead. The ending work in process inventory was 65% complete with respect to materials and 45% 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…
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: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 71,000 679,000 700,000 50,000 Materials $ 61,700 Labor $ 26,800 Overhead $ 38,100 $ 330,700 $ 815,550 $ 469,550 The beginning work in process inventory was 70% complete with respect to materials and 55% complete with respect to labor and overhead. The ending work in process inventory was 50% complete with respect to materials and 30% 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.
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