Fresh Juice Company uses a process costing system for its apple juice production. The juice is first processed in the Extraction Department and then transferred to the Bottling Department. The finished bottles are then transferred to Finished Goods Inventory. The following information relates to Fresh Juice's two departments for the month of March: Cases of juice in WIP, March 1: Extraction = 8,000; Bottling = 2,000 Cases of juice completed/transferred out during March: Extraction 65,000; Bottling = ? = Cases of juice in WIP, March 31: Extraction = 3,000; Bottling = 6,000 How many cases of juice were completed and transferred to Finished Goods Inventory during March: a. 58,000 b. 61,000 c. 63,000 d. 65,000

Fresh Juice Company uses a process costing system for its apple juice production. The juice is first processed in the Extraction Department and then transferred to the Bottling Department. The finished bottles are then transferred to Finished Goods Inventory. The following information relates to Fresh Juice's two departments for the month of March: Cases of juice in WIP, March 1: Extraction = 8,000; Bottling = 2,000 Cases of juice completed/transferred out during March: Extraction 65,000; Bottling = ? = Cases of juice in WIP, March 31: Extraction = 3,000; Bottling = 6,000 How many cases of juice were completed and transferred to Finished Goods Inventory during March: a. 58,000 b. 61,000 c. 63,000 d. 65,000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 9CE: Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling....

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Blue Ribbon Flour Company manufactures flour by a series of three processes, beginning in the Milling Department. From the Milling Department, the materials pass through the Sifting and Packaging departments, emerging as packaged refined flour. The balance in the account Work in ProcessSifting Department was as follows on May 1: The following costs were charged to Work in ProcessSifting Department during May: During May, 18,000 units of flour were completed and transferred to finished goods. Work in ProcessSifting Department on May 31 was 1,800 units, 75% completed. Instructions Prepare a cost of production report for the Sifting Department for May, using the weighted average method. Assume that direct materials are placed in process during production.
Work in process account data for two months; cost of production reports Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in ProcessFilling on April 1 and debits to the account during April were as follows: During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed. Charges to Work in ProcessFilling for May were as follows: During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the department, all were completed except 300 units that were 35% completed. Instructions 1. Enter the balance as of April 1, in a four-column account for Work in ProcessFilling. Record the debits and the credits in the account for April. Construct a cost of production report, and present computations for determining (A) equivalent units of production for materials and conversion, B) costs per equivalent unit, (C) cost of goods finished, differentiating between units started in the prior period and units started and finished in April, and (d) work in process inventory. 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report, and present the May computations (A through D) listed in part (1). 3. Comment on the change in costs per equivalent unit for March through May for direct materials and conversion costs.
Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: With respect to conversion costs. Required: 1. Prepare a physical flow schedule for July. 2. Prepare an equivalent units schedule for July using the FIFO method. 3. What if 60 percent of the materials were added at the beginning of the process and 40 percent were added at the end of the process (all ingredients used are treated as the same type or category of materials)? How many equivalent units of materials would there be?
Dura-Conduit Corporation manufactures plastic conduit that is used in the cable industry. A conduit is a tube that encircles and protects the underground cable. In the process for making the plastic conduit, called extrusion, the melted plastic (resin) is pressed through a die to form a tube. Scrap is produced in this process. Information from the cost of production reports for three months is as follows, assuming that inventory remains constant: Assume that there is one-half pound of resin per foot of the finished product. a. Determine the resin materials cost per foot of finished product for each month. Round to the nearest whole cent. b. Determine the ratio of the number of resin pounds output in conduit by the number of pounds input into the process for each month. Round percentages to one decimal place. c. Interpret the resin materials cost per foot for the three months. Use the information in (a) and (b) to explain what is happening. d. Determine the conversion cost per foot of finished product for each month and interpret the result.
Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in 130,000 units before ending the month with 14,000 units that were 100% complete with regard to materials and 30% complete with regard to conversion costs. The cost per unit of material is $5.80 and the cost per unit for conversion is $8.20 per unit. Using the weighted-average method, what is the amount of material and conversion costs assigned to the department for the month?
Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during October: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 13,000 units finished and transferred to stockroom Work in process, end of period, 2,000 units one-half completed Required: Prepare a cost of production summary for October.
Pure Fresh Juice Company uses a process costing system for its orange-flavored beverage. The beverage is first processed in the Extraction Department and then transferred to the Bottling Department. The finished bottles are then moved to Finished Goods Inventory. The following production information relates to Pure Fresh Juice's two departments for the month of May: ⚫ Bottles in WIP, May 1: • o Extraction Department: 12,000 。 Bottling Department: 4,500 Bottles completed/transferred out during May: o Extraction Department: 85,000 。 Bottling Department: Bottles in WIP, May 31: o Extraction Department: 6,500 。 Bottling Department: 9,500 Determine the number of bottles of juice completed and transferred to Finished Goods Inventory during May. a) 74,500 b) 79,000 c) 80,000 d) 82,000
XYZ Corporation uses a process costing system to collect costs related to the production of its ice-cream flavored cola. The cola is first processed in a Mixing Department at Health and is then transferred out and finished up in the Bottling Department. The finished cases of cola are then transferred to Finished Goods Inventory. The following information relates to XYZ’s two departments for the month of January: Mixing Bottling Cases of cola in work in process, January 1................................... 25,000 9,000 Cases of cola completed/transferred out during January.......................... 110,000 ? Cases of cola in work in process, January 31................................. 7,000 19,000 How many cases of cola were completed and transferred to Finished Goods Inventory during January?
Jared Beverage Corporation uses a process costing system to collect costs related to the production of its celery flavored cola. The cola is first processed in a Mixing Department and is then transferred out and finished up in the Bottling Department. The finished cases of cola are then transferred to Finished Goods Inventory. The following information relates to the company's two departments for the month of January: Mixing 10,000 65,000 Bottling 5,000 Cases of cola in work in process, January 1 Cases of cola completed/t ransferred out during January Cases of cola in work in process, January 31 ? 4,000 7,000 How many cases of cola were completed and transferred to Finished Goods Inventory during January?
How many cases of iced tea were completed?
can you please provide answer
Super Sports Drinks, Inc. has two departments: Mixing and Bottling. Direct materials are added at the beginning of the mixing process and at the end of the bottling process. Conversions costs are added evenly throughout each process. Data for the month of May for the Mixing Department are as follows: Units Amount Beginning Work-in-Process Inventory 0 units Started in production 7,780 units Completed and transferred out to Bottling 4,110 units Ending Work-in-Process Inventory 60% through mixing process 3,670 units Costs Amount Beginning Work-in-Process Inventory $0.00 Costs added during May: Direct Materials $8,531 Direct Labor $2,264 Manufacturing overhead allocated $4,680 Total costs added during May $15,475 Complete the production report for the month of May.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).