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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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
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?
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…
Cost Flows Through Jour The Mixing Department performs a series of processes in which a fluid chemical is concentrated. Records indicate that the Mixing Department has been charged with $128,000 of direct labor costs. The manufacturing overhead rate is 150% of direct labor costs. Beginning work in process was $448,000, and ending work in process totaled $68,000. One- half of this period's completed products is sold on account at a price equal to 160% of its cost. Prepare journal entries to record (1) various costs charged to the Mixing Department this period, (2) transfer of this period's completed product, and (3) sale of one-half of this period's production. (2) General Journal Ref. (1) Work in process-Mixing Department Wages payable To record direct labor costs. Work in process-Mixing Department Manufacturing overhead To record manufacturing overhead. Finished goods inventory Work in process-Mixing Department To record completed production Cost of goods sold (3) Description Finished…
Department W had 2,460 units, one-third completed at the beginning of the period; 12,500 units were transferred to Department X from Department W during the period; and 1,500 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
The Bottling Department of Mountain Springs Water Company had 4,100 liters in beginning work in process that were 30% complete. During the period, 56,800 liters were completed. The ending work in process inventory had 2,800 liters that were 60% complete. Assume that Mountain Springs uses the FIFO cost flow method and that materials are added at the beginning of the process. What are the conversion equivalent units of production for the period?
Kramer Corporation began the period with 5,200 units in process that were 100% complete for materials and 60% complete for conversion, and ended the period with 26,000 units completed and 6,500 units still in process. Work in process was 100% complete for materials and 70% complete for conversion costs. Using the weighted-average method, compute the equivalent units of production for materials and conversion for the period. Equivalent Units Direct Materials Conversion Costs

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