Compute the conversion cost per equivalent unit for the Production department using the weighted-average method. Direct Materials Percent Complete 100% Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Production cost information for the Production department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Units $ 93,500 107,000 18,000 90,000 108,000 30,000 $ 200,500 $ 253,000 291,160 $ 544,160 100% Conversion Percent Complete 40% 60%

Compute the conversion cost per equivalent unit for the Production department using the weighted-average method. Direct Materials Percent Complete 100% Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Production cost information for the Production department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Units $ 93,500 107,000 18,000 90,000 108,000 30,000 $ 200,500 $ 253,000 291,160 $ 544,160 100% Conversion Percent Complete 40% 60%

Name: 6Compute the conversion cost per equivalent unit for the Production d
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Description: 6Compute the conversion cost per equivalent unit for the Production department using the weighted-average method.Beginning work in process inventoryUnits started and completedUnits completed and transferred outEnding work in process inventoryProduct

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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Materials are added at the beginning of a production process, and ending work in process inventory is 20% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Costs to Account For Beginning inventory: materials $9,000 Beginning inventory: conversion 19,000 Direct material 58,600 Direct labor 75,000 Applied overhead 39,772 Total costs to account for $201,372 Units to Account For Beginning work in process 6,000 Units started into production 20,000 Transferred out 20,000 Costs to account for Materials Conversion Total Beginning work in process $fill in the blank 13 $fill in the blank 14 $fill in the blank 15 Incurred during the period fill in the blank 16 fill in the blank 17 fill in the blank 18 Total costs to account for $fill in the blank 19 $fill in the blank 20 $fill in the blank 21 Equivalent units fill in the blank 22 fill in the blank 23…
The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.55 and $0.60, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 2,200 Started and completed during the period 55,000 55,000 Transferred out of Filling (completed) 55,000 57,200 Inventory in process, end of period 6,000 1,800 Total units to be assigned costs 61,000 59,000 The beginning work in process inventory had a cost of $1,390. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar. Completed and transferred out of production $ Inventory in process, ending $
! Required information [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Direct Materials Conversion Percent Percent Units Complete Complete 100% Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory 77,000 838,000 730,000 185,000 80% 100% 40% Beginning work in process inventory $ 535, 275 160,800 Direct materials Conversion $ 696,075 Costs added this period Direct materials 3,582, 225 3,055, 200 Conversion 6,637,425 Total costs to account for $ 7,333,500 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production Materials Conversion Total costs Costs…
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