Cullumber Company manufactures basketballs. The first step is the production of internal rubber bladders. Materials are added at thebeginning of the production process, and conversion costs are incurred uniformly. Production and cost data for the BladderDepartment for July 2025 are as follows.Production Data-BasketballsUnitsPercentCompleteWork in process units, July 150060 %Units started into production1,320Work in process units, July 3150040 %Cost Data-BasketballsWork in process, July 1Materials$740Conversion costs640$1,380Costs added during JulyDirect materials1,990Direct labor380Manufacturing overhead1,260(a1)Calculate the equivalent units of production for materials and conversion costs.MaterialsEquivalent UnitseTextbook and MediaSave for LaterConversion CostsAttempts: 0 of 2 used Submit Answer

Step 1:Equivalent Units of Production, according to the International Accounting Standards (IAS),…

Answered: Cullumber Company manufactures…

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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Blossom Company manufactures basketballs. The first step is the production of internal rubber bladders. Materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Production and cost data for the Bladder Department for July 2025 are as follows. Production Data-Basketballs. Work in process units, July 1 Units started into production Work in process units, July 31 Cost Data-Basketballs Work in process, July 1 Materials Conversion costs Costs added during July Direct materials Direct labor Manufacturing overhead (a1) $700 Equivalent Units 550 Units Materials 400 1,000 500 $1,250 1,960 1,200 1,000 Percent Complete 60 % Calculate the equivalent units of production for materials and conversion costs. 40 % Conversion Costs
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Blossom Company manufactures basketballs. The first step is the production of internal rubber bladders. Materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Production and cost data for the Bladder Department for July 2025 are as follows. Production Data-Basketballs Units Percent Complete Work in process units, July 1 570 60 % Units started into production 1,260 Work in process units, July 31 600 40 % Cost Data-Basketballs Work in process, July 1 Materials $780 Conversion costs 560 $1,340 Costs added during July Direct materials 2,880 Direct labor 1,240 Manufacturing overhead 1,140
Sandhill Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2022 are as follows. Percent Complete Production Data-Basketballs Work in process units, July 1 Units started into production Work in process units, July 31 Cost Data-Basketballs Work in process, July 1 Materials Conversion costs Direct materials Direct labor Manufacturing overhead (a1) $750 600 Equivalent Units Units 520 Materials 1,130 500 $1,350 2.550 2,430 1,020 Calculate the following using the weighted-average machod. 60 % 40 % Calculate the equivalent units of production for materials and conversion costs. Conversion Costs
Need explanation for (a2) and take like
Ivanhoe Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2022 are as follows. Production Data-Basketballs Work in process units, July 1 Units started into production Work in process units, July 31 Cost Data-Basketballs Work in process, July 1 Materials Conversion costs Direct materials Direct labor Manufacturing overhead $790 640 Inventory turnover Units 470 1,140 500 $1,430 2,108 1,930 1,360 Percent Complete 60 % 40 % Compute the inventory turnover for 2025. (Round answer to 1 decimal place, e.g. 5.1.) times
Coronado Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2020 are as follows. Production Data—Basketballs Units PercentComplete Work in process units, July 1 560 60 % Units started into production 1,430 Work in process units, July 31 500 40 % Cost Data—Basketballs Work in process, July 1 Materials $700 Conversion costs 550 $1,250 Direct materials 2,882 Direct labor 1,072 Manufacturing overhead 1,420 Calculate the equivalent units of production for materials and conversion costs. Materials Conversion Costs Equivalent Units Calculate the unit costs of…
. In Ramirez Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2020 are as follows. Beginning Work in Process Month Beginning Work in Process Units Transferred Out Units % Complete as to Conversion Cost September 0 2,000 7,000 60 December 0 3,000 12,000 30 Compute the equivalent units of production for (1) materials and (2) conversion costs for each month.
The sanding department of Blossom Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 10,200 units completed and transferred out; 4,280 units in ending work in process are 100% complete in terms of materials and 25% complete in terms of conversion costs. Manufacturing costs: materials $47,784; labour $40,100; overhead $34,282. Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 15.25.)
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
In Wildhorse Company, materials are entered at the beginning of each process, and conversion costs are incurred uniformly throughout the process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2022 are as follows. Beginning Ending Work in Process Work in Process Conversion Units Completed and Conversion Month Units Cost% Transferred Out Units Cost% January 14,300 2,600 60 March 15,600 3,900 30 May 18,200 9,100 80 July 13,000 1,700 40
In Sandhill Company, materials are entered at the beginning of each process, and conversion costs are incurred uniformly throughout the process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2022 are as follows. Beginning Work in Process Ending Work in Process Month Units Conversion Cost% Units Completed and Conversion Transferred Out Units Cost% January 0 13,200 2,400 60 March 0 14,400 3,600 30 May 0 16,800 8,400 80 July 0 12,000 1,600 40 (a) For January and May, compute the physical units to be accounted for and the physical units accounted for. January May Units to be accounted for Beginning work in process Started into production Total units Units accounted for Transferred out Ending work in process Total units

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