xjjcjfnfjrnrrj Compute the equivalent units of production for materials and for labor and overhead for June.MaterialsLabor andOverheadEquivalent units of production Highlands Company uses the weighted-average method in its process costing system. It processes wood pulp for variousmanufacturers of paper products. Data relating to tons of pulp processed during June are provided below:Percent CompletedTons of Pulp MaterialsWork in process, June 180,20081%Labor andOverhead28%Work in process, June 3050,80042%11%Started into production during June301,400Required:1. Compute the number of tons of pulp completed and transferred out during June.2. Compute the equivalent units of production for materials and for labor and overhead for June.Complete this question by entering your answers in the tabs below.Required 1Required 2Compute the number of tons of pulp completed and transferred out during June.Tons completed and transferred out

Step 1: Required 1: Work in process, June 180,200 Units started301,400 Less: Work in process, June…

Answered: Compute the equivalent units of…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 25E: Cushing, Inc., costs products using a normal costing system. The following data are available for...

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Rath Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
The following information concerns production in the Finishing Department for May. The Finishing Department uses the weighted average method. a. Determine the number of units in work in process inventory at the end of the month. b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Assume that direct materials are placed in process during production.
Mulliner Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
The following information concerns production in the Forging Department for June. The Forging Department uses the weighted average method. a. Determine the cost per equivalent unit. b. Determine cost of units transferred to Finished Goods. c. Determine the cost of units in ending Work in Process.
Prepare a cost of production report for the Cutting Department of Dalton Carpet Company for January. Assuming that direct materials are placed in process during production, use the weighted average method with the following data:
Job cost sheets show the following information: What are the balances in the work in process inventory, finished goods inventory, and cost of goods sold for January, February, and March?
Equivalent Units of Production and Cost per Equivalent Unit—FIFO Method Required: Assume that the company uses the FIFO method in its process costing system. 1. Compute the first department’s equivalent units of production for materials, labor, and overhead for the month. 2. Compute the first department’s cost per equivalent unit for materials, labor, overhead, and in total for the month.
When calculating the predetermined manufacturing overhead rate, what is the correct basis of calculation? a.Estimated overhead costs divided by the estimated amount of the cost driver or allocation base b.Estimated amount of the cost driver divided by the estimated total overhead costs c.Estimated overhead costs divided by the number of days in a year d.Actual overhead costs of the prior year divided by the actual amount of the cost driver or allocation base
a. Determine the number of units in work in process inventory at the end of the month. b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May.
In process costing, costs are accounted for by a. year. b. process. c. job. d. batch
Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Attachment Each department uses the average cost method.a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department.b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Winding Department.
Manor Painting is a commercial interior and exterior painting contractor specializing in commercial buildings. An inventory of materials and equipment is on hand at all times, so work can start as quickly as possible. Special equipment is ordered as required. On August 1, the Materials Inventory account had a balance of $55,300. The Work-in-Process Inventory account is maintained to record costs of work not yet complete. There were two such jobs on August 1 with the following costs: Materials and equipment Direct labor Overhead (applied) Overhead has been applied at 40 percent of the costs of direct labor using an annual rate. Materials and equipment Direct labor (wages payable) Job 84 $ 24,400 21,600 8,640 During August, Manor Painting started two new jobs. Additional work was carried out on Jobs 84 and 87. Job 87 was completed and billed to the customer. Details on the costs incurred on jobs during August follow: Property taxes Storage area rental Job 87 $ 80,100 40,700 16,280 Truck…

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