Exercise 4-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 4-2]Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for onedepartment for October:Percent CompletedConversion60%50%UnitsWork in process, October 152,00090%74%Work in process, October 3139,000The department started 397,000 units into production during the month and transferred 410,000 completed units to the nextdepartment.Equivalent units of productionMaterialsRequired:Compute the equivalent units of production for October.MaterialsConversion

Name: Exercise 4-2 (Algo) Equivalent Units of Production-Weighted-Average M
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Description: Exercise 4-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 4-2]Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for onedepartment for October:Percent Comp

Finished goods are goods on which manufacturing costs have been incurred and that are complete but…

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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 52,000 39,000 Equivalent units of production Percent Completed Materials Conversion Work in process, October 1 90% 74% Work in process, October 31 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. Materials 60% 50% Conversion

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 39,000 Equivalent units of production Percent Completed Materials Conversion Work in process, October 1 90% 74% Work in process, October 31 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. Materials 60% 50% Conversion

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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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.
The cost data and production data for Beth Company for the month of August were as follows:Cost Data:Work in process, August 1: Materials 52,000 Cost added this month: Materials 600,000Conversion costs 69,000 Conversion costs 1,602,000Production Data:Work in process, August 1 (60% complete) 9,375 units Work in process, August 31 (30% to be done) 16,250 unitsStarted in production this August 100,000 units Normal lost units 1,375 unitsTransferred out 90,625 units Abnormal lost units ?All materials are added at the start of the process and lost units are detected at the inspection point of 75% completion.Requirement:1. Using the FIFO method, what are the cost assigned to units transferred out and units in ending work in process?2. Using the average method, what are the cost assigned to units transferred out and units in ending work in process?3. Using FIFO and weighted average, what is the amount that shall be expensed as incurred?
< 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
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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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
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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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