company started the month with 8,327 units in work in process inventory. It started 23,135 units and had an ending inventory of 9,312. The units were 100% complete to materials and 67% complete with conversion. How many units were transferred out during the period? Units transferred out

company started the month with 8,327 units in work in process inventory. It started 23,135 units and had an ending inventory of 9,312. The units were 100% complete to materials and 67% complete with conversion. How many units were transferred out during the period? Units transferred out

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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In the month of April, a department had 500 units in the beginning work in process inventory that were 60% complete. These units had $64000 of materials costs and $42000 of conversion costs. Materials are added at the beginning of the process and conversion costs are added uniformly throughout the process. During April, 10000 units were completed and transferred to the finished goods inventory and there were 2200 units that were 25% complete in the ending work in process inventory on April 30. During April, manufacturing costs charged to the department were: Materials $1583000; Conversion costs $1857000.(Round unit matrial and coversion cost to 0 decimal place, e.g. 135.)The cost assigned to the units transferred to finished goods during April was $3256000. $3172000. $3128000. $3150000.
The assembly department had 700 units 35% completed in process at the beginning of June, 10,000 units completed during June, and 900 units 60% completed at the end of June. Using the first-in, first-out method of inventory costing, what was the number of EQUIVALENT units of production for material costs AND conversion costs for the period?
The following information applies to the questions displayed below.] During April, the first production department of a process manufacturing system completed its work on 415,000 units of a product and transferred them to the next department. Of these transferred units, 83,000 were in process in the production department at the beginning of April and 332,000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April, 105,000 additional units were in process in the production department and were 90% complete with respect to materials and 40% complete with respect to conversion. Compute the number of equivalent units with respect to both materials used and conversion used in the first production department for April using the weighted-average method.
Narwhal Swimwear has a beginning work in process inventory of 14,000 units and transferred in 110,000 units before ending the month with 13,000 units that were 100% complete with regard to materials and 20% complete with regard to conversion costs. The cost per unit of material is $5.60 and the cost per unit for conversion is $8.60. Using the weighted-average method, what is the amount of material and conversion costs assigned to the department for the month?
Running Company had the following information for the month of June: Work in process beginning inventory, June 1 2,200 units Units transferred in 16,600 units Work in process ending inventory, June 30 4,200 units Beginning work-in-process inventory is 30 percent complete as to conversion. Ending work-in-process inventory is 50 percent complete as to conversion. Materials are added at the end of the process. How many units were started and completed in June? Multiple Choice 12,400. 10,200. 14,500. 16,700. 18,700.
The Rolling Department of Oak Ridge Steel Company had 4,830 tons in beginning work in process inventory (90% complete) on July 1. During July, 48,300 tons were completed. The ending work in process inventory on July 31 was 3,864 tons (90% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.
There were 2,000 units in beginning inventory that were 70% complete with regard to conversion. During the month, 15,000 units were started, and 16,000 were transferred to finished goods. The ending work in process was 55% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method?
Pacific Ink had beginning work-in-process inventory of $821,960 on October 1. Of this amount, $330,000 was the cost of direct materials and $491,960 was the cost of conversion. The 52,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs. During October, 110,000 units were transferred out and 34,000 remained in ending inventory. The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,553,600 for direct materials and $3,326,400 for conversion. Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method.
The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (30% completed)- 4,000 units Completed units during June- 65,000 units Ending Inventory (60% completed)- 7,000 units What is the number of conversion equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories?
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A company has 1,900 units in ending work in process that are 30% complete after transferring out 12,000 units. All materials are added at the beginning of the process. If the cost per unit is $3 for materials and $7 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out Ending work in process inventory $