Equivalent Units of Conversion CostsThe Filling Department of Ivy Cosmetics Company had 3,100 ounces in beginning work in process inventory (60% complete). During the period, 51,500 ounces were completed. The ending work in process inventory was 4,600 ounces (80%complete).What are the total equivalent units for conversion costs?X unitsFeedbackV Check My WorkAre you determining the equivalent units of materials added or of conversion of materials? When would materials typically be added in the process? When would conversion of these materials take place? Recall the definition of work inprocess.

Answered: Equivalent Units of Conversion Costs…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Equivalent Units Calculations—Weighted Average Method Ferris Corporation makes a powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at the beginning of the process in the Compounding Department. Conversion costs are added evenly throughout each process. Ferris uses the weighted average method of process costing. In the Compounding Department, beginning work in process was 2,000 pounds (70% processed), 18,500 pounds were started in process, 18,000 pounds transferred out, and ending work in process was 30% processed. Calculate equivalent units for March 2016 for the Compounding Department. Ferris CorporationFlow of Units and Equivalent Units Calculation, March 2016 Equivalent Units % Workdone DirectMaterials % WorkDone ConversionCosts Complete/Transferred Answer Answer Answer Answer Answer Ending Inventory Answer Answer Answer Answer Answer Total Answer Answer Answer
Units to be Assigned Costs Ivy Cosmetics Company consists of two departments, Blending and Filling. The Filling Department received 72,000 ounces from the Blending Department. During the period, the Filling Department completed 68,000 ounces, including 6,000 ounces of work in process at the beginning of the period. The ending work in process inventory was 10,000 ounces. How many ounces were started and completed by the Filling Department during the period? ounces
Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 4,700 ounces in beginning work in process inventory (90% complete). During the period, 33,500 ounces were completed. The ending work in process inventory was 1,700 ounces (70% complete). What are the total equivalent units for conversion costs? 38,920 X units. Feathark
Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 6,000 ounces in beginning work in process inventory (60% complete). During the period, 68,000 ounces were completed. The ending work in process inventory was 10,000 ounces (25% complete). What are the total equivalent units for conversion costs? 70,500 is not the correct answer!
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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…
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Units Beginning work in process inventory Units started this period 67,000 Direct Materials Percent Complete 100% Conversion Percent Complete 80% 844,000 Units completed and transferred out Ending work in process inventory 715,000 196,000 100% 90% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 296,075 133,710 $ 429,785 1,981,425 2,540,490 4,521,915 $ 4,951,700 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Note: Round "Cost per EUP" to 2…
Saved Help Save & Exis A company has two manufacturing departments, Forming and Painting. The company uses the weighted-average method and it reports the following data. Units completed in the Forming department are transferred to the Painting department. Units 52 Units completed and transferred out Ending work in process inventory 120,000 40,000 Direct materials Percent Complete 100% Conversion Percent Complete 100% 20% 60% Determine the equivalent units of production for the Forming department for direct materials and conversion costs assuming the weighted average method. Multiple Choice 120,000 direct materials; 120,000 conversion 120,000 direct materials; 160,000 conversion 128,000 direct materials; 120,000 conversion 128,000 direct materials; 144,000 conversion 128,000 direct materials; 184,000 conversion
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October: All materials are added at the beginning of the process. Beginning work in process had 125,000 units, 40 percent complete with respect to conversion costs. Ending work in process had 25,000 units, 20 percent complete with respect to conversion costs. Started in process, 175,000 units. Required: Question Content Area 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. 4. Suppose that the cost of direct materials in beginning work in process is $560,000 and that the direct materials cost incurred for October is…
Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 2,700 ounces in beginning work in process inventory (30% complete). During the period, 38,200 ounces were completed. The ending work in process inventory was 2,300 ounces (80% complete). What are the total equivalent units for conversion costs? units
Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 39,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 138,000. Units completed and transferred out: 177,000. Ending Inventory: 37,000 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $57,000. Costs in beginning Work in Process - Conversion: $62,850. Costs incurred in February - Direct Materials: $301,000. Costs incurred in February -Conversion: $613,150. Calculate the equivalent units of conversion. Multiple Choice 251,000 225,100 O 138,000 175 000

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