Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 4,100 units, 45% completed 2,200 units, 10% completed Production begins in the Drawing Department and finishes in the Winding Department. Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Feedback Drawing Department 5,400 units, 25% completed Drawing Department Direct Materials and Conversion Equivalent Units of Production For June 74,000 units Total Inventory in process, June 1 Started and completed in June Transferred to finished goods in June Inventory in process, June 30 Whole Units 5,400 ✔ 74.000 ✓ 4,100 ✓ X 00000 Direct Materials Equivalent Units ✓ X Winding Department Direct Materials and Conversion Equivalent Units of Production For June Whole Units Winding Department 1,600 units, 90% completed Check My Work When are the materials added to the units? How much more needs to be done to the beginning units with respect to conversion costs to complete the units? How much has been added to the units in ending work in process inventory with respect to materials and conversion? b. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Winding Department. If an amount is zero, enter in "0". 73,400 units Conversion Equivalent Units 4,050 Direct Materials Conversion Equivalent Units Equivalent Units X
Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 4,100 units, 45% completed 2,200 units, 10% completed Production begins in the Drawing Department and finishes in the Winding Department. Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Feedback Drawing Department 5,400 units, 25% completed Drawing Department Direct Materials and Conversion Equivalent Units of Production For June 74,000 units Total Inventory in process, June 1 Started and completed in June Transferred to finished goods in June Inventory in process, June 30 Whole Units 5,400 ✔ 74.000 ✓ 4,100 ✓ X 00000 Direct Materials Equivalent Units ✓ X Winding Department Direct Materials and Conversion Equivalent Units of Production For June Whole Units Winding Department 1,600 units, 90% completed Check My Work When are the materials added to the units? How much more needs to be done to the beginning units with respect to conversion costs to complete the units? How much has been added to the units in ending work in process inventory with respect to materials and conversion? b. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Winding Department. If an amount is zero, enter in "0". 73,400 units Conversion Equivalent Units 4,050 Direct Materials Conversion Equivalent Units Equivalent Units X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Concept explainers
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Transcribed Image Text:Equivalent Units of Production
Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as
follows:
Work in process, June 1
Completed and transferred to next
processing department during June
Work in process, June 30
2,200 units, 10% completed
Production begins in the Drawing Department and finishes in the Winding Department.
Inventory in process, June 1
Started and completed in June
Transferred to Winding Department in June
Inventory in process, June 30
Total
Drawing Department
5,400 units, 25% completed
Feedback
>
a. If all direct materials are placed in process at the beginning of production, determine the direct
materials and conversion equivalent units of production for June for the Drawing Department. If an
amount is zero, enter in "0".
74,000 units
Drawing Department
Direct Materials and Conversion Equivalent Units of Production
For June
4,100 units, 45% completed
Total
Inventory in process, June 1
Started and completed in June
Transferred to finished goods in June
Inventory in process, June 30
Whole Units
5,400
V
X
74,000 ✓
4,100 ✓
Direct Materials
Equivalent Units
0 ✓
X
Whole Units
Winding Department
Direct Materials and Conversion Equivalent Units of Production
For June
Winding Department
1,600 units, 90% completed
Check My Work
When are the materials added to the units? How much more needs to be done to the beginning
units with respect to conversion costs to complete the units? How much has been added to the
units in ending work in process inventory with respect to materials and conversion?
b. If all direct materials are placed in process at the beginning of production, determine the direct
materials and conversion equivalent units of production for June for the Winding Department. If an
amount is zero, enter in "0".
73,400 units
Conversion
Equivalent Units
4,050 ✔
Direct Materials Conversion
Equivalent Units Equivalent Units
000
X
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