Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for onedepartment for October:Units52,00032,000Equivalent units of productionPercent CompletedConversion60%50%Work in process, October 1Work in process, October 31The department started 395,000 units into production during the month and transferred 415,000 completed units to the nextdepartment.Materials90%73%Required:Compute the equivalent units of production for October.MaterialsConversion

Name: Clonex Labs, Incorporated, uses the weighted-average method in its pr
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for onedepartment for October:Units52,00032,000Equivalent units of productionPercent CompletedConversion60%50%Work in process

Business

Accounting

Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Units Work in process, October 1 52,000 Work in process, October 31 32,000 The department started 395,000 units into production during the month and transferred 415,000 completed units to the next department. Required: Compute the equivalent units of production for October. Equivalent units of production Percent Completed Conversion 60% 50% Materials Materials 90% 73% 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 Work in process, October 1 52,000 Work in process, October 31 32,000 The department started 395,000 units into production during the month and transferred 415,000 completed units to the next department. Required: Compute the equivalent units of production for October. Equivalent units of production Percent Completed Conversion 60% 50% Materials Materials 90% 73% Conversion

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

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
How much is the cost per equivalent unit for the month using Average costing? *
Mack Inc. uses a weighted-average process costing system. Direct materials and conversion costs are incurred evenly during the production process. During the month of October, the following costs were incurred: Direct materials $39,700 Conversion costs 70,000 The work-in-process inventory as of October 1 consisted of 5,000 units, values at $4,300, that were 20% complete. During October, 27,000 units were transferred out. Inventory as of October 31 consisted of 3,000 units that were 50% complete. The weighted-average inventory cost per unit completed in October was: Select one: a. $3.88. b. $4.00. c. $3.99. d. $3.51.
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…
Compute for the total cost transfered to the next department using average costing.
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Units 51,000 26,000 Percent Completed Conversion 60 46 Materials 90 Work in process, October 1 Work in process, October 31 711 The department started 388,000 units into production dering the month and transferred 413,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Conversion Equivalent units of production
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
ABC Company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately. The production quantity schedule for April is reproduced below: Work in process on April 1 (60% complete as to conversion costs) 1,000 Units started during April 5,000 Total units to account for 6,000 Units completed and transferred out 4,000 Work in process on April 30 (20% complete as to conversion costs) 2,000 Total units accounted for 6,000 Costs pertaining to the month of April are as follows: Beginning inventory costs: (DM, $54,600; Conversion, $35,560) $90,160 Costs incurred during April (DM, $468,000; Conversion $574,060) $1,042,060 Question #1: Using the weighted average method, the equivalent unit materials cost for April is? Question #2: Using the weighted average method, the 4,000 units completed during April will be transferred out at an EUP unit cost of?
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
6