sah.3answer must be in table format or i will give down vote Exercise 8-21 (Static) ComputeEquivalent Units: FIFO Method(LO 8-1, 5)Trevor Mills produces agricultural feed atits only plant. Materials are added at thebeginning of the process. Information onwork-in-process in December follows:.Beginning inventory, 16,000 partiallycomplete units, 10 percent completewith respect to conversion costs.• Units started in December, 77,000 units.• Units transferred out in December,•73,000 units.Ending inventory, 20,000 units, 62percent complete with respect toconversion costs.Required:Compute the equivalent units formaterials and conversion costs forDecember using the FIFO method.MaterialsConversion CostsEquivalentUnits

Understanding the ComponentsBefore calculating equivalent units, let's clarify the components…

Answered: Exercise 8-21 (Static) Compute…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 4P

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Errors in equivalent unit computation Napco Refining Company processes gasoline. On June 1 of the current year, 6,400 units were completed in the Blending Department. During June, 55,000 units entered the Blending Department from the Refining Department. During June, the units in process at the beginning of the month were completed. Of the 55,000 units entering the department, all were completed except 5,200 units that were completed. The equivalent units for conversion costs for June for the Blending Department were computed as follows: List the errors in the computation of equivalent units for conversion costs for the Blending Department for June.
Transferred-In Cost Vigor Inc. produces an energy drink. The product is sold by the quart. The company has two departments: mixing and bottling. For May, the bottling department had 30,000 quarts in beginning inventory (with transferred-in costs of 63,000) and completed 140,000 quarts during the month. Further, the mixing department completed and transferred out 120,000 gallons at a cost of 237,000 in May. Required: 1. Prepare a physical flow schedule for the bottling department. 2. Calculate equivalent units for the transferred-in category. 3. Calculate the unit cost for the transferred-in category.
Transferred-In Cost Powers Inc. produces a protein drink. The product is sold by the gallon. The company has two departments: mixing and bottling. For August, the bottling department had 70,000 gallons in beginning inventory (with transferred-in costs of 283,000) and completed 262,500 gallons during the month. Further, the mixing department completed and transferred out 240,000 gallons at a cost of 957,000 in August. Required: 1. Prepare a physical flow schedule for the bottling department. 2. Calculate equivalent units for the transferred-in category. 3. Calculate the unit cost for the transferred-in category.
Proteger Company manufactures insect repellant lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year: Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead. The cost of goods transferred out for the year is: a. 4,471,200 b. 3,571,200 c. 3,780,000 d. 3,024,000
Cost per equivalent unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of 9,000 of direct materials. A. Determine the number of units transferred to the next department. B. Determine the costs per equivalent unit of direct materials and conversion. C. Determine the cost of units started and completed in November.
Production information shows these costs and units for the smoothing department in August. All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month?
Computing EUP—FIFO Method Refer to Short Exercise S18A-15. At Spring Fresh Water is added at the beginning of the filtration process. Conversion costs are added evenly throughout the process. Now assume that in February, 130,000 liters were completed and transferred out of the Filtration Department into the Bottling Department. The 70,000 liters remaining in Filtration’s ending Work-in-Process Inventory were 80% of the way through the filtration process Recall that Spring fresh has no beginning inventories. Compute the equivalent units of production for direct materials and conversion costs for the Filtration Department using the FIFO method.
Thapa
Exercise 8-20 (Algo) Compute Equivalent Units: Weighted-Average Method (LO 8-1, 3) revor Mills produces agricultural feed at its only plant. Materials are added at the beginning of the process. Information on work-in- process in December follows: Beginning Inventory, 18,000 partially complete units, 10 percent complete with respect to conversion costs. Units started in December, 79,000 units. Units transferred out In December, 75,000 units. Ending Inventory, 22,000 units, 62 percent complete with respect to conversion costs. equired: Compute the equivalent units for materials and conversion costs for December using the weighted-average method. Materials Conversion Costs Equivalent Units
Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-2, 3) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 47,000 partially complete gallons, 95 percent complete with respect to conversion costs. • Units started in July, 87,000 gallons. Units transferred out in July, 97,000 gallons. • Ending inventory, 37,000 gallons, 40 percent complete with respect to conversion costs. Cost per equivalent unit $ 63,000 42,000 $ 105,000 Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method. Note: Round your answers to 2 decimal places. Direct Materials $ 190,000 440,000 $630,000 Conversion Costs
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