Delta Manufacturing has 2,200 units in beginning inventory (60% complete), starts 15,400 units during the period, and has 750 units in ending inventory (40% complete). How many units were completed?
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- How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 Units were started, and 57,000 units were completed and transferred out?A company started a new product, and in the first month started 100,000 units. The ending work in process inventory was 20,000 units that were 100% complete with materials and 75% complete with conversion costs. There were 100,000 units to account for, and the equivalent units for materials was $6 per unit while the equivalent units for conversion was $8 per unit. What is the value of the inventory transferred out, using the weighted-average inventory method?Masonrys records show the raw materials inventory had purchases of $1,000and an ending raw materials inventory balance of $200. If the cost of materials used during the month was $900, what was the beginning inventory?
- For each of the following independent situations, calculate the missing values: 1. The Belen plant purchased 78,300 of direct materials during June. Beginning direct materials inventory was 2,500, and direct materials used in production were 73,500. What is ending direct materials inventory? 2. Forster Company produced 14,000 units at an average cost of 5.90 each. The beginning inventory of finished goods was 3,422. (The average unit cost was 5.90.) Forster sold 14,120 units. How many units remain in ending finished goods inventory? 3. Beginning work in process (WIP) was 116,000, and ending WIP was 117,300. If total manufacturing costs were 349,000, what was the cost of goods manufactured? 4. If the conversion cost is 84 per unit, the prime cost is 55, and the manufacturing cost per unit is 105, what is the direct materials cost per unit? 5. Total manufacturing costs for August were 412,000. Prime cost was 64,000, and beginning WIP was 76,000. The cost of goods manufactured was 434,000. Calculate the cost of overhead for August and the cost of ending WIP.Using the weighted-average method, compute the equivalent units of production for a new company that started 85,000 units into production and transferred 67,000 to the second department. Assume that beginning inventory was 0. Conversion is considered to occur evenly throughout the process, while materials are added at the beginning of the process. The ending inventory for Equivalent Units: Conversion is 9,000 units.Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are 70% complete and the Units are 30% complete with respect to conversion.
- At the end of January, Higgins Data Systems had an inventory of 710 units, which cost $15 per unit to produce. During February the company produced 1,070 units at a cost of $18 per unit. If the firm sold 1,210 units in February, what was its cost of goods sold? (Assume LIFO inventory accounting.)The department had beginning inventory of 5,500 units of product and it started 94,500 units during the period. It transferred out 90,000 units during the period. Total transferred-in and production cost for the period was $902,400.00. This amount included the cost in beginning inventory plus additional costs incurred during the period. The target (standard) cost per unit is $9.45. What is the equivalent cost per unit, assuming ending inventory is 40% complete? What is the equivalent cost per unit, assuming ending inventory is 60% complete?Cavy Company completed 7,770 units during the year at a cost of $590,520. The beginning finished goods inventory was 1,710 units valued at $121,410. Assuming a FIFO cost flow, determine the cost of goods sold for 7,020 units.$fill in the blank 1
- The ending inventory for the year would be valued at.At the end of January, Mineral Labs had an inventory of 855 units, which cost $8 per unit to produce. During February the company produced 1,300 units at a cost of $12 per unit. a. If the firm sold 1,650 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.) Cost of goods sold b. If the firm sold 1,650 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.) Cost of goods soldAt the end of January, Mineral Labs had an inventory of 905 units, which cost $13 per unit to produce. During February the company produced 1,550 units at a cost of $17 per unit. a. If the firm sold 2,150 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.) b. If the firm sold 2,150 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.)
