Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (12,000 x 100%) Conversion (12,000 × 70%) Direct Materials Conversion 80,000 80,000 12,000 8,400 Equivalent Units of Production 92,000 88,400 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period $ 41,600 $ 61, 200 139,400 187,600 Total costs $181,000 $248,800 Cost per equivalent unit 2$ 1.97 per EUP $ 2.81 per EUP The total materials costs transferred out of the Canning Department equals:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

Following is a partial process cost summary for Mitchell Manufacturing's Canning Department.
 

Equivalent Units of Production Direct Materials   Conversion  
Units Completed and transferred out     80,000         80,000    
Units in Ending Work in Process:                    
Direct Materials (12,000 × 100%)     12,000              
Conversion (12,000 × 70%)               8,400    
Equivalent Units of Production     92,000         88,400    
                     
Cost per Equivalent Unit                    
Costs of beginning work in process   $ 41,600       $ 61,200    
Costs incurred this period     139,400         187,600    
Total costs   $ 181,000       $ 248,800    
Cost per equivalent unit   $ 1.97 per EUP     $ 2.81 per EUP  
 


The total materials costs transferred out of the Canning Department equals:

Multiple Choice
$224,800.
$157,600.
$181,000.
$174,148.
$181,240.
Transcribed Image Text:Multiple Choice $224,800. $157,600. $181,000. $174,148. $181,240.
Following is a partial process cost summary for Mitchell Manufacturing's Canning Department.
Conversion
Equivalent Units of Production
Units Completed and transferred out
Units in Ending Work in Process:
Direct Materials (12,000 x 100%)
Conversion (12,000 x 70%)
Direct Materials
80,000
80,000
12,000
8,400
Equivalent Units of Production
92,000
88,400
Cost per Equivalent Unit
Costs of beginning work in process
Costs incurred this period
$ 41,600
$ 61,200
139,400
187,600
Total costs
$181,000
$248,800
Cost per equivalent unit
$
1.97 per EUP
$
2.81 per EUP
The total materials costs transferred out of the Canning Department equals:
Transcribed Image Text:Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Conversion Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (12,000 x 100%) Conversion (12,000 x 70%) Direct Materials 80,000 80,000 12,000 8,400 Equivalent Units of Production 92,000 88,400 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period $ 41,600 $ 61,200 139,400 187,600 Total costs $181,000 $248,800 Cost per equivalent unit $ 1.97 per EUP $ 2.81 per EUP The total materials costs transferred out of the Canning Department equals:
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education