eBookPrint ItemEnding work in processTotal units to account forWork in process completion percent100%40%Material Units Conversion Units Total UnitsCompleted and transferred outEnding work in processTotal units to account forMaterialsConversionTotalCosts to account for$Beginning work in processIncurred during the period$4Total costs to account forEquivalent unitsCost per equivalent unit for department $Transferred out costsEnd work in process: materialsEnd work in process: conversionEnd work in process: totalCosts to account forNextPrevious%24%24%24%24%24%24%24 Materials are added at the beginning of a production process, and ending work in process inventory is 40% complete with respect to conversion costs. Use the information providedto complete a production cost report using the weighted-average method.Costs to Account ForBeginning inventory: materials$9,000Beginning inventory: conversion18,000Direct material41,000Direct labor74,000Applied overhead42,392Total costs to account for$184,392Units to ACcount ForBeginning work in process6,000Units started into production19,000Transferred out19,000Production Cost ReportCompleted and transferred outEnding work in processTotal units to account for40%100%Work in process completion percentMaterial Units Conversion Units Total UnitsCompleted and transferred outNextPrevious

Equivalent units of products concept came in to existence when some units are not fully completed at the beginning or end of an accounting period.

Business

Accounting

Ending work in process Total units to account for Work in process completion percent 100% 40% Material Units Conversion Units Total Units Completed and transferred out Ending work in process Total units to account for Materials Conversion Total Costs to account for Beginning work in process Incurred during the period Total costs to account for Equivalent units Cost per equivalent unit for department Transferred out costs End work in process: materials End work in process: conversion End work in process: total

Ending work in process Total units to account for Work in process completion percent 100% 40% Material Units Conversion Units Total Units Completed and transferred out Ending work in process Total units to account for Materials Conversion Total Costs to account for Beginning work in process Incurred during the period Total costs to account for Equivalent units Cost per equivalent unit for department Transferred out costs End work in process: materials End work in process: conversion End work in process: total

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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Similar questions

1.
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Overton Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Cost of beginning work in process, plus costs incurred during the period: Direct materials Direct labor Overhead (a) Question Part Score (b) Question Part Score (c) Completed and transferred out Ending work in process $ 20,000 $ 164,000 24,000 60 % 100 % Show the assignment of costs to units completed and transferred out and to work in process at the end of the period. $101,200 $164,800 $184,000 2/2 --/2
The "total units accounted for" equals units in * Units in beginning work in process - units transferred out Units in beginning work in process + ending work in process Units in ending work in process + units completed Units in ending work in process - units started into production None of the above
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make a production cost report Please don't give answer & formulae in image based format.. thanku
Tableau DA 16-1: Quick Study, Computing equivalent units LO P1 Monsta Cola hires us to help assign and report costs. The company has two departments: mixing and bottling. To aid our analysis, the following Tableau Dashboard is provided with information for the mixing department. The company uses the weighted average method. Work in Process Inventory (In Units) 190000 Beginning inventory Units started this period 640000 Units completed and transferred Ending inventory 200000 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,0 Work in Process Inventory Percent Complete Beginning Ending 10... 80% 70%. 60%. 60% 神 40%. 40% 20% 30% 0% Direct Materials Conversion Direct Materials Conversion Work in Process Inventory Costs Beginning Inventory Costs Inventory Costs Added During 142500 Conversion konversion Conversion Costs, Added: $1,810,000 390000 Direct Materials Direct Materials 2460000 * + ableau 1. Compute the number of units completed and transferred out. 2. Compute the total…
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