Please do not give solution in image format thanku Units to be accounted forWork in process, November 1CostsStarted into productionTotal unitsUnits accounted forCompleted and transderred outWork in process, November 30Total unitsCostsUnit costsTotal Costs-Unit costsTotal CostsEquivalent unitsUnit costsCosts to be accounted forWork in process, November 1Started into productionTotal costsCost Reconciliation ScheduleCosts accounted forCompleted and transferred outWork in process, November 30Conversion costsTotal costsPhysicalUnitsIVANHOE COMPANYAssembly DepartmentProduction Cost ReportMaterialsMaterialsMaterialsEquivalent UnitsSConversionCostsConversionCostsConversionCosts$TotalTotal Current Attempt in ProgressWanhoe Company has several processing departments. Costs to be accounted for in the Assembly Department for November 2022 totaled $2.282.148 as follows.Work in process, November 14Conversion costsDirect materials added during NovemberDirect labor incurred during NovemberManufacturing overhead assigned during November$79,30048,600$127.9001.590,380226,000337,868$2.282.148Production records show that 34,600 units were in beginning work in process 30% complete as to conversion costs, 661.100 units were started into production, and 25,300 units were in endingwork in process 40% complete as to conversion costs Materials are added at the beginning of each process, and conversion costs are incurred uniformly throughout the process

Name: Please do not give solution in image format thanku Units to be account
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Description: Please do not give solution in image format thanku Units to be accounted forWork in process, November 1CostsStarted into productionTotal unitsUnits accounted forCompleted and transderred outWork in process, November 30Total unitsCostsUnit costsTotal

The total cost of producing a product, including raw materials and operating costs, is detailed in a…

Business

Accounting

Current Attempt in Progress. vanhoe Company has several processing departments. Costs to be accounted for in the Assembly Department for November 2022 totaled $2.282.148 as follows Work in process, November 1 Conversion costs Direct materials added during November Direct labor incurred during November Manufacturing overhead assigned during November $79,300 48.600 $127.900 1.590,380 226,000 337,868 $2.282.148 Production records show that 34,600 units were in beginning work in process 30% complete as to conversion costs, 661.100 units were started into production, and 25,300 units were in ending work in process 40% complete as to conversion costs Materials are added at the beginning of each process, and conversion costs are incurred uniformly throughout the process

Current Attempt in Progress. vanhoe Company has several processing departments. Costs to be accounted for in the Assembly Department for November 2022 totaled $2.282.148 as follows Work in process, November 1 Conversion costs Direct materials added during November Direct labor incurred during November Manufacturing overhead assigned during November $79,300 48.600 $127.900 1.590,380 226,000 337,868 $2.282.148 Production records show that 34,600 units were in beginning work in process 30% complete as to conversion costs, 661.100 units were started into production, and 25,300 units were in ending work in process 40% complete as to conversion costs Materials are added at the beginning of each process, and conversion costs are incurred uniformly throughout the process

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 3BE: The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory...

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SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 20,500 Materials inventory, January 1 11,000 Materials purchases 12,000 Materials inventory, December 31 13,000 Direct labor 9,500 Overhead 5,500 Work in process, December 31 10,500
The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during October: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 13,000 units finished and transferred to stockroom Work in process, end of period, 2,000 units one-half completed Required: Prepare a cost of production summary for October.
Selected information from Skylar Studios shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2
On December 1, Carmel Valley Production Inc. had a work in process inventory of 1,200 units that were complete as to materials and 50% complete as to labor and overhead. December 1 costs follow: During December the following transactions occurred: a. Purchased materials costing 50,000 on account. b. Placed direct materials costing 49,000 into production. c. Incurred production wages totaling 50,500. d. Incurred overhead costs for December: e. Applied overhead to work in process at a predetermined rate of 125% of direct labor cost. f. Completed and transferred 10,000 units to finished goods. (Hint: You should first compute equivalent units and unit costs. The unit cost should include applied, not actual, factory overhead.) Carmel Valley uses the weighted average cost method. The ending inventory of work in process consisted of 1,000 units that were completed as to materials and 25% complete as to labor and overhead. Required: Prepare the journal entries to record the above December transactions.
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The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
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Basic Cost Flows Linsenmeyer Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for September: During September, 18,000 components were completed. There is no beginning or ending WIP in any department. Required: 1. Prepare a schedule showing, for each department, the cost of direct materials, direct labor, applied overhead, product transferred in from a prior department, and total manufacturing cost. 2. Calculate the unit cost. (Note: Round the unit cost to two decimal places.)
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A company manufactures a liquid product called Crystal. The basic ingredients are put into process in Department 1. In Department 2, other materials are added that increase the number of units being processed by 50%. The factory has only two departments. Calculate the following for each department: (a) unit cost for the month for materials, labor, and factory overhead, (b) cost of the units transferred, and (c) cost of the ending work in process.