23 Units accounted for:45ACompleted and transferred outPlus: Ending work in process, January 316 Total physical units accounted for7 Total equivalent unitsFlow ofPhysicalUnitsCEquivalent Units115,00019,000134,000Direct ConversionMaterials Costs Blumhauer's Packaging Department had the following information at January 31, All direct materials are added at the end of the conversion process. The units in ending work in process inventory were only 25%of the way through the conversion process.(Click the icon to view the equivalent units)Complete the schedule by computing the total equivalent units of direct materials and conversion costs for the month(For accounts with no units in inventory, make sure to enter "0" in the appropriate cell)Equivalent UnitsFlow of Physical DirectUnitsMaterialsUnits accounted for:Completed and transferred outPlus: Ending work in process, January 31Total physical units accounted forTotal equivalent units115.00019.000134.000CHIDConversionCosts

To calculate equivalent units represents the number the direct material, direct labor and overhead…

(For accounts with no units in inventory, make sure to enter in the appropriate Equivalent Units Flow of Physical Direct Units Materials Units accounted for: Completed and transferred out Plus: Ending work in process, January 31 Total physical units accounted for Total equivalent units 115.000 19.000 134.000 Conversion Costs

(For accounts with no units in inventory, make sure to enter in the appropriate Equivalent Units Flow of Physical Direct Units Materials Units accounted for: Completed and transferred out Plus: Ending work in process, January 31 Total physical units accounted for Total equivalent units 115.000 19.000 134.000 Conversion Costs

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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Edwina Industrial Products (EIP) manufactures cleaning products. The Grant Street Plant produces a single product in three departments: Mixing, Refining, and Packaging. Additional materials are added in the Refining Process when units are 40 percent complete with respect to conversion. Information for operations in September in the Refining process appear as follows. Work in process on September 1 consisted of 25,000 units with the following costs: Degree of Completion 100% Mixing costs transferred in Costs added in Refining Direct materials Conversion costs Work in process September 1 Amount $ 12,000 Direct materials Conversion costs $ 310,200 396,800 Total costs added $ 707,000 $ 27,800 29,320 $ 57,120 $ 69,120 100% 80% During September, 275,000 units were transferred in from Mixing at a cost of $165,000. The following costs were added in Refining in September. Refining finished 260,000 units in September and transferred them to Packaging. At the end of September, there were 40,000…
Part B: Compute the cost per equivalent unit fir direct materials and conversion costs Please avoid solutions image based solutions thanku
Beverly Plastics produces a part used in precision machining. The part is produced in two departments: Mixing and Refining. The raw material is introduced into the process in the Mixing Department. The cost of the material fluctuates significantly month to month based on market conditions. Information on costs and operations in the Refining Department for September follow: WIP inventory-Refining Beginning inventory (17,500 units, 10% complete with respect to Refining costs) Transferred-in costs (from Mixing) Refining conversion costs Current work (55,300 units started) Mixing costs Refining costs $ 242,055 9,676 Required: a. Complete the production cost report using the FIFO method. Note: Round "Cost per equivalent unit" to 2 decimal places. $ 903,625 103,140 The ending inventory has 14,500 units, which are 90 percent complete with respect to Refining Department costs.
takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse Calculator A company started the month with 8,333 units in work in process inventory. It started 23,146 units and had an ending inventory of 9,322. The units were 100% complete to materials and 67% complete with conversion. How many units were transferred out during the period? Units transferred out Previous Next Email Instructor Submit Test for Grading All work saved. 5:18 PM 10/2/2020 arch O
Units in beginning WIP Inventory completed this period Units Started and completed this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period Costs in beginning WIP Inventory (from last period) Costs added to WIP Inventory this period Total costs to account for Total cost of units completed $ Step 3: Account for costs Total number of units completed Physical Units What is The Skysong Company's total cost units completed? Actual unit cost for units completed $ 1,500 15,100 How many total units did the company complete this period? Total cost per equivalent unit this period $ The actual cost for the units completed this period is 500 17,100 Total Costs The Skysong Company uses the FIFO method of process costing. $1,155 26,895 $28,050 % Added This Period DM 100% 100% $755 0% 8.580 $9,335 DM Equivalent Units Equiv. Units 15,100 500 15,600 Conversion Costs $400 What was the actual per-unit cost for those units completed? (Round answer…