engo Company makes a trail mix in two departments: Roasting and Blending. Direct mate eginning of each process, and conversion costs are added evenly throughout each proce method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for ed: Units 3,500 19,700 23,200 2,900 $ 271,200 1,196,910 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 30% $ 122,270 1,468,110 $ 1,590,380 70%

engo Company makes a trail mix in two departments: Roasting and Blending. Direct mate eginning of each process, and conversion costs are added evenly throughout each proce method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for ed: Units 3,500 19,700 23,200 2,900 $ 271,200 1,196,910 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 30% $ 122,270 1,468,110 $ 1,590,380 70%

Name: Required information[The following information applies to the questio
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Required information[The following information applies to the questions displayed below.]Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at thebeginning of each process, and conversion costs are

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $2.10 and $0.45, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 2,200 Started and completed during the period 43,000 43,000 Transferred out of Filling (completed) 43,000 45,200 Inventory in process, end of period 4,000 1,200 Total units to be assigned costs 47,000 46,400 The beginning work in process inventory had a cost of $1,500. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar. Completed and transferred out of production $fill in the blank 1 Inventory in process, ending $fill in the blank 2
Dengar
Longboard Company has a process costing system. All materials are introduced at the beginning of the process in Department One. The following information is available for the month of January Work in process, July 1 (408 complete for conversion) Started Completed and transferred to Department 2 Work in process, July 31 (60% complete for conversion) What are the equivalent units for the month of July if the company uses the FIFO method? Multiple Choice Materials 2.280 and Conversion 1.900 O Materials 2,280 and Conversion 1.936 Materials 2.280 and Conversion 2.088 Materies 1,900 and Conversion 1936 Units Male 1900 and Conversion 2.08 380 1,900 1,800 480
Please do parts 4 and 5.
Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. TI uses process costing. WIP Inventory Processing Department: August 1 Quantity (60% complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 1 Current production and costs (August) Units started Current costs Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total current cost: August WIP Inventory Processing Department (August 31) Quantity (20 % complete) Transferred-in costs (from Mixing Department) Conversion costs (Processing Department) Total WIP cost: August 31 Flow of units: Units to be accounted for: Beginning WIP inventory Units started this period Total units to account for Units accounted for: Completed and transferred out Units in ending…
Subject: acounting
Helix Corporation uses the welghted-average method In Its process costing system. It produces prefabricated flooring in a serles of steps carrled out In productlon departments. All of the materlal that Is used In the first production department is added at the beglnning of processing In that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May 60, 000 100 % 5e % 40, 000 100 % 30 % 24 5e, 200 13,900 246, 000 266, e00 78,320 $ 200,160 Required: 1. Calculate the first production department's equlvalent units of production for materlals and conversion for May. 2 Compute the first production department's cost per…
Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Units Cost per equivalent unit of production Costs added this period + Equivalent units of production Cost per equivalent unit of production 4,300 20,500 24,800 3,700 $ 309,760 1,382,724 Materials 309,760 Direct Materials Percent Complete 100% 0 100% 2. Compute cost per equivalent unit of production for both direct materials and conversion. Conversion Percent Complete 40% $ 124,510 1,692,484 $ 1,816,994 Conversion 1,692,484 80% 0
Equivalent Units; Assigning Costs; Cost Reconciliation—Weighted-Average Method Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,000 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to 5599,780 in total. The ending work in process inventory in January consisted of 3,000 units, which were 80% complete with respect to materials and 60% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January. 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and…
Manji
Required information [The following information applies to the questions displayed below.] Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Units 4,300 20,500 24,800 3,700 $ 309,760 1,382,724 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 40% $ 124,510 1,692,484 $ 1,816,994 80%
Prepare a Production Cost Report Troika Company The production information for Troika's Smoothing department for August is as follows: Work in process Beginning balance: materials Beginning balance: conversion Materials Labor Overhead Cost $ 1,550 2,500 7,441 14,520 7,930 Beginning units Transferred in Transferred in Transferred out Units 650 1,780 1,810 All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. Prepare a production cost report for August for the Smoothing Department.