Cost per Equivalent UnitThe cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $229,950. The conversion cost for the period in theFilling Department is $117,900. The total equivalent units for direct materials and conversion are 31,500 ounces and 39,300 ounces, respectivelyDetermine the direct materials and conversion costs per equivalent unit. If required, round to the nearest centDirect materials cost per equivalent unit: $per ounceConversion costs per equivalent unit:per ounce

In order to determine the material cost per equivalent units, the direct material cost is divided by…

Answered: Cost per Equivalent Unit The cost of…

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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Gannon Company uses the FIFO method to compute equivalent units. It has 4,000 units in beginning work in process, 20% complete as to conversion costs, 50,000 units started and completed, and 6,000 units in ending work in process, 30% complete as to conversion costs. Equivalent units for conversion costs are
For Anaphy Corp, materials are added at the start of the process in Department B. Units received from Department A costs P11.10 while in Department B, unit costs for materials and conversion costs were P1 and P1.22 respectively. The company’s quantity data showed that WIP beg, which had a cost of P80,000, had 8,000 units and were ¾ done. During the period, Department A transferred 50,000 units to Department B. At the end of the period, WIP has 10,000 units which are 1/5 done and there were 3,000 normal lost units. Assuming that the 3,000 units were lost at the end of processing Required: a.) Compute for the total cost of units transferred to finished goods assuming that the lost units were spoiled at the start of processing.
The Modelling Department of AMC Inc. incurred $295,000 in direct material costs and $120,600 in conversion costs during the period. The beginning work-in-process inventory costs include $25,000 in direct material costs and $38,000 in conversion costs. The equivalent units of production for direct materials and conversion costs are 8,000 and 5,200, respectively. At the end of the period, 4,500 units are completed and transferred to the next processing department. Compute the costs per equivalent units for direct materials under the weighted-average method. (Round your answer to the nearest cent.) Group of answer choices $30.50 per EUP $23.19 per EUP $40.00 per EUP $36.88 per EUP
Department W had 2,520 units, one-third completed at the beginning of the period; 12,700 units were transferred to Department X from Department W during the period; and 800 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The equivalent units of production used to compute unit conversion cost on the cost of production report for Department W, assuming the company uses FIFO, are a.16,020 units b.10,180 units c.12,260 units d.11,860 units
For Tuba Corp, materials are added at the start of the process in Department B. Units received from Department A costs P11.10 while in Department B, unit costs for materials and conversion costs were P1 and P1.22 respectively. The company’s quantity data showed that WIP beg, which had a cost of P80,000, had 8,000 units and were ¾ done. During the period, Department A transferred 50,000 units to Department B. At the end of the period, WIP has 10,000 units which are 1/5 done and there were 3,000 lost units. Compute for the equivalent units using average. Compute for the equivalent units using FIFO. Compute for the unit cost transferred to finished goods if the 3,000 units were lost at the end of processing but were considered abnormal. Compute for the total cost of units transferred to finished goods assuming that the lost units were spoiled at the start of processing.
Equivalent Units of Production The Converting Department of Girders Company uses the weighted average cost (WAC) method and had 3,500 units in work in process that were 60% complete at the beginning of the period. During the period, 24,900 units were started and 25,200 units were completed and transferred to the Packing Department. There were 3,200 units in process that were 30% complete at the end of the period. a. Determine the number of units to be accounted for and to be assigned costs for the period. Whole Units Units to be accounted for Units to be assigned costs b. Determine the number of equivalent units production for the period. 27,000 X Feedback. 24,900 X 27,000 X Check My Work (a) Recall that the numberof units to be accounted for is the sum of the units in beginning work in process and the units started during the period. Also know that the number of units to be assigned costs s the sum of the units transferred to the Packing Department during the period and the ending…
Equivalent Units of Production The Converting Department of Worley Company had 840 units in work in process at the beginning of the period, which were 60% complete. During the period, 17,600 units were completed and transferred to the Packing Department. There were 960 units in process at the end of the period, which were 75% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Worley Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units Direct Materials Conversion Equivalent Units Equivalent Units
The Refining Department of Crystal Cane Sugar, Inc. had 65,000 tons of sugar to account for in December. Of the 65,000 tons, 45,000 tons were completed and transferred to the Boiling Department, and the remaining 20,000 tons were 70% complete. The materials required for production are added at the beginning of the process. Conversion costs are added equally throughout the refining process. The weighted−average method is used. Calculate the total equivalent units of production for conversion costs. A. 65,000 units B. 45,000 units C. 59,000 units D. 14,000 units
Direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) 28,400 units Units started 124,000 units Units completed and transferred out 107,000 units WIP ending (50% for conversion) 45,400 units Beginning WIP direct materials $53,200 Beginning WIP conversion costs $19,600 Costs of materials added $442,100 Costs of conversion added $304,650 (a) Compute the total equivalent units for direct materials. (b) Compute the total equivalent units for conversion costs.
Use this information about Department W to answer the question that follow. Department W had 2,760 units, one-third completed at the beginning of the period. 13,200 units were transferred to Department X from Department W during the period, and 950 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. What is the total number of units to be assigned costs on the cost of production report for Department W?
For Penny Corp, materials are added at the start of the process in Department B. Units received from Department A costs P11.10 while in Department B, unit costs for materials and conversion costs were P1 and P1.22 respectively. The company’s quantity data showed that WIP beg, which had a cost of P80,000, had 8,000 units and were ¾ done. During the period, Department A transferred 50,000 units to Department B. At the end of the period, WIP has 10,000 units which are 1/5 done and there were 3,000 lost units. Required: a.) Compute for the unit cost transferred to finished goods if the 3,000 units were lost at the end of processing but were considered abnormal.
Assume Sherwin-Williams Company, a large paint manufacturer, has determined the following activity cost pools and cost driver levels for the latest period: Activity Cost Pool Activity Cost Activity Cost Driver Machine setup $960,000 2,500 setup hours Material handling 830,000 5,000 material moves Machine operation 200,000 20,000 machine hours The following data are for the production of single batches of two products, Mirlite and Subdue: Mirlite Subdue Gallons produced 50,000 30,000 Direct labor hours 400 250 Machine hours 800 250 Direct labor cost $9,500 $7,000 Direct materials cost $360,000 $160,000 Setup hours 15 12 Material moves 60 35 Determine the batch and unit costs per gallon of Mirlite and Subdue using ABC.Round cost per gallon to two decimal places. Product Costs Mirlite Subdue Direct materials Answer Answer Direct labor Answer Answer Manufacturing overhead: Machine setups Answer Answer Material…

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