Equivalent Units of Materials CostThe Filling Department of Ivy Cosmetics Company had 5,100 ounces in beginning work in process inventory (90% complete). During the period, 84,400 ounces were completed. The ending work in process inventory was 4,200 ounces (10% complete).What are the total equivalent units for direct materials if materials are added at the beginning of the process?units

Equivalent units for direct materials represent the amount of work done in terms of completed units.…

Answered: Equivalent Units of Materials Cost The…

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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The Filling Department of Eve Cosmetics Company had 3,100 ounces in beginning work in process inventory (20% complete). During the period, 52,000 ounces were completed. The ending work in process inventory was 2,600 ounces (20% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process?
A company has 1,900 units in ending work in process that are 30% complete after transferring out 12,000 units. All materials are added at the beginning of the process. If the cost per unit is $3 for materials and $7 for conversion, what is the cost of units transferred out and in ending work in process inventory using the weighted-average method? Cost of units transferred out Ending work in process inventory $
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 Production The Converting Department of Comfy Touch Towel and Tissue Company had 2,600 units in work in process at the beginning of the period, which were 35% complete. During the period, 23,800 units were completed and transferred to the Packing Department. There were 7,400 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not require an entry, leave it blank. Comfy Touch Towel and Tissue Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units Direct Materials Equivalent Units Conversion Equivalent Units 00000 00000 ☐☐☐☐
Equivalent Units of Materials Cost The Filling Department of Eve Cosmetics Company had 4,900 ounces in beginning work in process inventory (30% complete). During the period, 30,700 ounces were completed. The ending work in process inventory was 1,500 ounces (30% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? units
Equivalent Units of Production The Converting Department of Worley Company had 1,000 units in work in process at the beginning of the period, which were 60% complete. During the period, 20,800 units were completed and transferred to the Packing Department. There were 1,120 units in process at the end of the period, which were 25% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Worley Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units Direct Materials Conversion Equivalent Units Equivalent Units
Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 6,000 100% 40% Units started this period 43,200 Units completed and transferred out 44,400 Ending work in process inventory 4,800 100% 80% Beginning work in process inventory Direct materials $ 39,600 Conversion 443,880 $ 483,480 Costs added this period Direct materials 993,600 Conversion 4,331,880 5,325,480 Total costs to account for $ 5,808,960 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200.Required:1. Prepare the Forming department’s production cost report for May using FIFO.2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly.
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
Equivalent Units of Materials Cost The Filling Department of Ivy Cosmetics Company had 4,900 ounces in beginning work in process inventory (70% complete). During the period, 81,000 ounces were completed. The ending work in process inventory was 4,100 ounces (80% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? units
Equivalent Units of Production The Converting Department of Comfy Touch Towel and Tissue Company had 1,120 units in work in process at the beginning of the period, which were 40% complete. During the period, 23,600 units were completed and transferred to the Packing Department. There were 1,240 units in process at the end of the period, which were 40% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not require an entry, leave it blank. Comfy Touch Towel and Tissue CompanyNumber of Equivalent Units of Production WholeUnits DirectMaterialsEquivalentUnits ConversionEquivalentUnits Inventory in process, beginning fill in the blank 1 fill in the blank 2 fill in the blank 3 Started and completed fill in the blank 4 fill in the blank 5 fill in the blank 6 Transferred to Packing Department fill in the blank 7…
H M The Converting Department of Comfy Touch Towel and Tissue Company had 960 units in work in process at the beginning of the period, which were 30% complete. During the period, 20,000 units were completed and transferred to the Packing Department. There were 1,080 units in process at the end of the period, which were 75% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not requi an entry, leave it blank. Comfy Touch Towel and Tissue Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units 22 Direct Materials Equivalent Units Conversion Equivalent Units

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