Ending Work in Process Month Beginning Units Units % Complete as Work in Transferred to Conversion Process Out Cost 10,000 8,000 January -0- 30,000 40% March -0- 40,000 75 July Compute the physical units for each month. -0- 40,000 16,000 25

Ending Work in Process Month Beginning Units Units % Complete as Work in Transferred to Conversion Process Out Cost 10,000 8,000 January -0- 30,000 40% March -0- 40,000 75 July Compute the physical units for each month. -0- 40,000 16,000 25

Name: BE21-4 Bowyer Manufacturing Company has the following production data
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Description: BE21-4 Bowyer Manufacturing Company has the following production data for selectedmonths.Ending Work in ProcessMonthBeginningUnitsUnits% Complete asWork inTransferredto ConversionProcessOutCostJanuary-0-30,00040,00010,00040%March-0-8,00075JulyComput

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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Beginning work in process inventory Units started this period Total Completed and transferred out Ending work in process inventory Units 74,000 392,000 370,000 96,000 Direct Materials Percent Complete 80% 90% Conversion Percent Complete 201 Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Percent Complete 40% Equivalent units of production: Weighted average method Direct Materials Units EUP Conversion Percent Complete. EUP
Current Attempt in Progress Blossom Company has the following production data for January. Beginning Work in Process 0 Units Started into Production 8,670 Compute the physical units for January. Beginning Work in Process Inventory Started into production Total units to be accounted for Ending Work in Process % Complete as to Conversion Cost Units 1,180 30%
Reconcile the number of physical units to find the missing amounts. Determine the number of units started and completed each month. Beginning Work in Process Ending Work in Process Conversion Conversion Complete Complete (percent) (percent) Month February June September December Units 2,000 4,700 3,800 48 66 27 39 Units Started 23,900 26,400 22,900 Units Completed 23 36 59 76 Units Started and Completed
Date ACCOUNT Work in Process-Forging Department Nov. Item 1 Bal., 900 units, 60% completed 30 Direct materials, 12,900 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 1,400 units, 70% completed $ Debit 123,840 21,650 16,870 $ Credit ? ACCOUNT NO. Balance Debit Direct materials cost per equivalent unit Conversion cost per equivalent unit 10,566 134,406 156,056 172,926 ? Cost per equivalent units of $9.60 for Direct Materials and $3.00 for Conversion Costs. Based on the above data, determine each of the following amounts. ? If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. Credit b. Cost of units transferred to the next department during November. $ c. Cost of ending work in process inventory on November 30. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in…
PR 17-2A Cost of Production Report Obj. 2, 4 Hana Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the Packing Department. The following is a partial work in process account of the Roasting Department at July 31: ACCOUNT Work in Process-Roasting Department Date July Item 1 Bal., 30,000 units, 10% completed 31 Direct materials, 155,000 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 149,000 units 31 Bal.,? units, 45% completed Instructions Answer Check Figure: Conversion cost per equivalent unit, $0.76 Debit Credit 620,000 90,000 33,272 PICTIO ? ACCOUNT NO. Balance Debit Credit 121,800 741,800 831,800 865,072 1. Prepare a cost of production report, and identify the missing amounts for Work in Process -Roasting Department. ? 2. Assuming that the July 1 work in process inventory includes $119,400 of direct materials, determine the…
Question 1 of 1 \table[[Manufacturing Costs, Production Data], [Beginning work in process, $50, 193, Beginning work in process, 23, 400 units], [Costs added during month,,Units completed and transferred out,84, 240], [Direct materials, 299, 520, Units started in production, 99, 840], [Direct labor, 54, 756, Ending work in process,39,000 units], [Manufacturing overhead, 106, 704,, ]] Beginning work in process and ending work in process were 10% and 20% complete with respect to conversion costs, respectively. Prepare a production cost report for the Welding Department for February 2022. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.) (3) Work in process, February 1 23400 SUPPORT Started into production 99840 larr Check for Understanding Chapter 16 Question 1 of 1 i Completed and 10 - transferred out Work in process, February 1 Started and completed Total Work in process, February 28 tal units (B) Costs to be accounted for
Data Section: Work in process, beginning Units started during the month Work in process, ending Costs to account for. Beginning work in process Materials added Conversion costs incurred Total costs to be accounted for Beg. Work in process Started & Completed Ending Work in process Total Whole Units $ $ $ S Units 50,000 220,000 30,000 Total 100,000 176,000 597,600 873,600 Direct Mat. % Added During the Month Cost per equivalent unit Percent Conversion 30% 80% Direct Mat. Equiv. Units Direct Mat. Conversion% Added During the Month HINT: To find started and completed: Completed units - beginning inventory Started during the month - ending inventory Conversion Equiv. Units Conversion Beginning Inventory Cost assignment Direct Materials Conversion Total Amount reported on the balance sheet as Finished goods inventory Work in Process inventory
how can I resolve this problem? Percent Completed Units Materials Conversion Work in process, beginning 50,000 70% 40% Started into production 265,000 Completed and transferred out 255,000 Work in process, ending 60,000 75% 25% Materials Conversion Work in process, beginning $ 16,600 $ 5,000 Cost added during June $ 178,400 $ 105,700 Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. 5. Prepare a cost reconciliation report for the Blending Department for June.
Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 60,000 60% 40% Units started this period 322,000 Completed and transferred out 300,000 Ending work in process inventory 82,000 80% 30% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method.
View Policies Current Attempt in Progress The Smelting Department of Kiner Company has the following production data for November. Production: Beginning work in process 2,800 units that are 100% complete as to materials and 24% complete as to conversion costs; units transferred out 9,100 units; and ending work in process 7,200 units that are 100% complete as to materials and 46% complete as to conversion costs. Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November. Materials Conversion Costs Total equivalent units Save for Later Attempts: 0 of 3 used Submit Answer O 4) to search
Beginning work in process inventory Units started this period Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Units 30,000 390,000 380,000 40,000 Required A Required B Required C $50,200 18,900 Completed and transferred out Ending work in process 1,507,160 1,031,660 Units 380,000 40,000 Complete this question by entering your answers in the tabs below. Direct Materials Exercise 16-6 (Algo) Weighted average: Cost per EUP and costs assigned to output LO P1 Percent Complete 80% a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department c. Using the weighted average method, assign costs to the forming…
ces Beginning work in process inventory Units started this period Beginning work in process Direct materials Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Conversion Costs added this period Direct materials Conversion Total costs to account for Required A Required B Required C Units Costs of beginning work in process Costs added this period Total costs Equivalent units of production (from part a) Cost per equivalent unit of production 320,000 312,000 35,000 $ $ $ 40,000 16,100 Complete this question by entering your answers in the tabs below. 1,660,000 929,300 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming departm c. Using the weighted average method, assign costs to the forming department's output-specifically, its units…