Total equivalent units for materials? Emerald Seafood Co. processes Pacific Cod for various distributors. Two departmentsare involved: Processing and Packaging. Data relating to tons of Pacific Cod processedin the Processing Department during August 2022 are provided below:of Percent CompletedCategoryTonsPacific CodWork-in-process inventory Aug 1,800 tons85% (Materials) / 75% (Conversion)1Work-in-process inventory-Aug 3,200 tons50% (Materials) / 30% (Conversion)31Started processing during August 9,200 tonsTotal equivalent units for materials under the weighted-average method are calculatedto be:A. 8,460 equivalent unitsB. 9,720 equivalent unitsC. 10,360 equivalent unitsD. 9,400 equivalent unitsE. 8,980 equivalent units

Explanation of Process Costing: Process costing is an accounting methodology used in industries with…

Answered: Emerald Seafood Co. processes Pacific…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 14PB: Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units....

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Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 2,000 94 81 Work-in-process inventory — June 30 3,300 61 38 Started processing during June 8,300 Total equivalent units for conversion under the weighted-average method are calculated to be: Multiple Choice 7,168 equivalent units. 9,013 equivalent units. 7,323 equivalent units. 8,177 equivalent units. 8,254 equivalent units.
East Bay Fisheries Inc. processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2019 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 1,500 90 80 Work-in-process inventory — June 30 2,800 60 40 Started processing during June 7,800 Total equivalent units for materials under the weighted-average method are calculated to be:
East Bay Fisheries Inc. processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2019 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 2,800 98 79 Work-in-process inventory — June 30 4,100 62 46 Started processing during June 9,000 Total equivalent units for materials under the weighted-average method are calculated to be a. 7602 equivalent units b. 10,242 equivalent units. c. 7,762 equivalent units. d. 9,733 equivalent units. e. 9,586 equivalent units.
Hook Bait Incorporated processes king salmon for various distributors. Two departments are involved — processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2020 are provided below: Tons of King Salmon Percent Completed Materials Conversion Work-in-process inventory — June 1 3,400 85 87 Work-in-process inventory — June 30 4,700 60 37 Started processing during June 9,600 Total equivalent units for materials under the weighted-average method are calculated to be: Multiple Choice 10,496 equivalent units. 8,010 equivalent units. 11,120 equivalent units. 7,865 equivalent units. 10,039 equivalent units.
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Using the information below, prepare a Cost of Production Report for CD Corporation's Packaging Department for May 2019 On May 1, 2019 the following were reported: Inventory In-Process-Packaging (5,500 units, 20% complete) Finished Goods (700 units at $7.25 a unit) 17,500 5,075 The following were charged to Work in Process- Packaging during May: Direct Materials transferred from Mixing 14,000 units @ $6.25 a unit. 87,500 Direct Labor 12,000 Factory Overhead 4,800 During May -15,500 units were transferred to finished goods and 13,700 units were sold. On May 30 Inventory was as follows Inventory in Process - Packaging: 4,000 units (40% complete) Finished Goods - 2,500 units
Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.For December,2022. CBA Company presented the following costs on processes: In December, under FIFO method, what is average unit cost of inventory transferred from Process 1 to Process 2? P13.20 P13.33 P13.32 P13.21
Required information [The following information applies to the questions displayed below.] Pacific Ink had beginning work-in-process inventory of $1,069,960 on October 1. Of this amount, $459,200 was the cost of direct materials and $610,760 was the cost of conversion. The 63,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs. During October, 132,000 units were transferred out and 45,000 remained in ending inventory. The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,578,400 for direct materials and $4,182,090 for conversion. Compute the costs of goods transferred out and the ending inventory using the weighted-average method. (Round intermediate calculations to 2 decimal places.)
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Required information [The following information applies to the questions displayed below.] Pacific Ink had beginning work-in-process inventory of $1,070,790 on October 1. Of this amount, $436,900 was the cost of direct materials and $633,890 was the cost of conversion. The 65,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs. During October, 136,000 units were transferred out and 47,000 remained in ending inventory. The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,390,200 for direct materials and $4,343,130 for conversion. Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method.

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