еBookShow Me HowCost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.95 and $0.35, respectively. Theequivalent units to be assigned costs are as follows:Equivalent UnitsDirect MaterialsConversionInventory in process, October 12,200Started and completed during October44,00044,000Transferred out of Rolling (completed)44,00046,200Inventory in process, October 314,0002,000Total units to be assigned costs48,00048,200The beginning work in process inventory on October 1 had a cost of $1,470. Determine the cost of completed and transferred-out production, the endingwork in process inventory, and the total costs assigned by the Rolling Department.Completed and transferred-out productionInventory in process, October 31Total costs assigned by the Rolling DepartmentPreviousNextCheck My Work 2 more Check My Work uses remaining.4:3我口中0 22/2a $%24%24

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Description: еBookShow Me HowCost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.95 and $0.35, respectively. Theequivalent units to be as

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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.95 and $0.35, respectively. equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion 2,200 Inventory in process, October 1 44,000 44,000 Started and completed during October 44,000 46,200 Transferred out of Rolling (completed) 4,000 2,000 Inventory in process, October 31 48,000 48,200 Total units to be assigned costs The beginning work in process inventory on October 1 had a cost of $1,470. Determine the cost of completed and transferred-out production, the endit work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production $4 Inventory in process, October 31 Total costs assigned by the Rolling Department

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.95 and $0.35, respectively. equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion 2,200 Inventory in process, October 1 44,000 44,000 Started and completed during October 44,000 46,200 Transferred out of Rolling (completed) 4,000 2,000 Inventory in process, October 31 48,000 48,200 Total units to be assigned costs The beginning work in process inventory on October 1 had a cost of $1,470. Determine the cost of completed and transferred-out production, the endit work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production $4 Inventory in process, October 31 Total costs assigned by the Rolling Department

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 5,340 tons in beginning work in process inventory (40% complete) on October 1. During October, 44,500 tons were completed. The ending work in process inventory on October 31 was 3,560 tons (40% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.fill in the blank 1 units
Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials 2,100 $ 14.96 Conversion 850 $ 5.33 A total of 20,600 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. Note: For all requirements, round your final answers to the nearest whole dollar amount. 1. Cost of ending work in process inventory 2. Cost of units transferred out Materials Conversion Total
Freddie Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. Data for the Finishing Department follows: WIP, April 1 Transferred-in costs in WIP, April 1 Direct materials (100%) in WIP, April 1 Conversion costs (70%) in WIP, April 1 Units transferred-in Transferred-in costs during April Units completed April direct materials cost April conversion costs 10,000 units $79,940 $24,420 $23,400 50,000 $550,900 45,000 OA. 60,000 B. 52,000 OC. 49,500 OD. 52,500 $155,500 $239,250 15,000 units WIP, April 30 (100% for materials and 30% for conversion costs) What are the enuivalent units for convereinn nete?
Equivalent Units of Materials Cost The Filling Department of Eve Cosmetics Company had 2,400 ounces in beginning work in process inventory (90% complete). During the period, 40,300 ounces were completed. The ending work in process inventory was 2,000 ounces (50% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? units
Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 7,220 tons in beginning work in process inventory (50% complete) on October 1. During October, 72,200 tons were completed. The ending work in process inventory on October 31 was 3,610 tons (90% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit. units
Equivalent Units of Conversion Costs The Rolling Department of Kraus Steel Company had 8,448 tons in beginning work in process inventory (80% complete) on October 1. During October, 70,400 tons were completed. The ending work in process inventory on October 31 was 3,520 tons (50% complete). What are the total equivalent units for conversion costs?
Cost of Production Report The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 7,400 units, 60% completed $73,556* *Direct materials (7,400 x $7.60) $56,240 Conversion (7,400 x 60% x $3.90) 17,316 $73,556 Materials added during January from Weaving Department, 114,000 units $877,800 Direct labor for January 201,888 Factory overhead for January 246,752 Goods finished during January (includes goods in process, January 1), 115,400 units Work in process, January 31, 6,000 units, 20% completed a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places. Karachi Carpet Company Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process,…
Equivalent units of materials costs The Rolling department of kraus steel company had 5,100 tons in beginning work in process inventory ( 60% complete) on October 1st. During October, 84500 tons were completed. The ending work in process inventory on October 31 was 4,200 tons (10% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process? ________ UNITS
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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $2.30 and $0.40, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs Equivalent Units Equivalent Units Direct Materials Conversion 0 Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 3,900 55,000 58,900 3,000 61,900 55,000 55,000 6,000 61,000 The beginning work in process inventory on October 1 had a cost of $2,220. Determine the cost of completed and transferred-out production, the ending work in process
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.50 and $1.00, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 4,800 Started and completed during October 69,000 69,000 Transferred out of Rolling (completed) 69,000 73,800 Inventory in process, October 31 6,000 3,000 Total units to be assigned costs 75,000 76,800 The beginning work in process inventory on October 1 had a cost of $2,640. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department $