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G. H. B. Process Cost Practice Quiz Part 1 The following information is related to the blending department: 1. 1,900 units in beginning WIP, 60X completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods completed and transterred total 21,800 units 4. All materials are added at the beginning of the process. 5. Beginning WIP was $7,657 10 6. Cost of DMadded during the month: $77,000 7. Cost of DL added during the month: $14,200 8. Factory overhead applied during the month: $6,880 13 9. Ending WIP inventory is 20% completed as to conversion costs 14 15 12 Required. 16 1 Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 18 R.Compute cost per equivalent unit for materials and conversion costs 18 4. Using cost per equivalent unit above, determine (A) cost transferred 20 21 22 out of WIP to next department and (B) cost assigned to ending WIP VIP- Blending Dept. 23 Units Units 24 25 26 Beginning 27 28 23 DM 30 31 32 DL 33 34 FOH Group 1 7,657 Beginning 1,900 $ Cost to Complete Total Group 2 Start Compl. 35 36 Total Completed Total 38 39 40 41 Units 43 Group 3 44 Ending 45 46 88288 5885 File Home Insert Page Layout Formulas Data Review View Help A2 B: H. 1 Process Cost Quiz - Part 2 3. Units to be Assigned Costs: Equivalent Units Z Conv. Whole Units % DM lirect Materials Conversion 6 Group 1 Beginning Group 2 Start +Compl. 10 11 12 Total Completed and Transterred 13 14 Group 3 15 Ending 16 17 Total Units to be Assigned Costs 18 19 Cost/Equivalent Unit DMCost = Cony Cost = 20 DMEU Conv EU 21 22 Costs Allocated to Completed and Ending Inventory Units 23 Direct Materia Conversion Total 24 Group 1 26 27 28 Group 2 29 •? 30 31 Total Completed 32 33 Group 3 34 36 Total Costs Assigned by Blending Dept. 37 39 Sheet1 Sheet2 Sheet3 O Type here to search (+)

G. H. B. Process Cost Practice Quiz Part 1 The following information is related to the blending department: 1. 1,900 units in beginning WIP, 60X completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods completed and transterred total 21,800 units 4. All materials are added at the beginning of the process. 5. Beginning WIP was $7,657 10 6. Cost of DMadded during the month: $77,000 7. Cost of DL added during the month: $14,200 8. Factory overhead applied during the month: $6,880 13 9. Ending WIP inventory is 20% completed as to conversion costs 14 15 12 Required. 16 1 Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 18 R.Compute cost per equivalent unit for materials and conversion costs 18 4. Using cost per equivalent unit above, determine (A) cost transferred 20 21 22 out of WIP to next department and (B) cost assigned to ending WIP VIP- Blending Dept. 23 Units Units 24 25 26 Beginning 27 28 23 DM 30 31 32 DL 33 34 FOH Group 1 7,657 Beginning 1,900 $ Cost to Complete Total Group 2 Start Compl. 35 36 Total Completed Total 38 39 40 41 Units 43 Group 3 44 Ending 45 46 88288 5885 File Home Insert Page Layout Formulas Data Review View Help A2 B: H. 1 Process Cost Quiz - Part 2 3. Units to be Assigned Costs: Equivalent Units Z Conv. Whole Units % DM lirect Materials Conversion 6 Group 1 Beginning Group 2 Start +Compl. 10 11 12 Total Completed and Transterred 13 14 Group 3 15 Ending 16 17 Total Units to be Assigned Costs 18 19 Cost/Equivalent Unit DMCost = Cony Cost = 20 DMEU Conv EU 21 22 Costs Allocated to Completed and Ending Inventory Units 23 Direct Materia Conversion Total 24 Group 1 26 27 28 Group 2 29 •? 30 31 Total Completed 32 33 Group 3 34 36 Total Costs Assigned by Blending Dept. 37 39 Sheet1 Sheet2 Sheet3 O Type here to search (+)

FINANCIAL ACCOUNTING
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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G. H. B. Process Cost Practice Quiz Part 1 The following information is related to the blending department: 1. 1,900 units in beginning WIP, 60X completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods completed and transterred total 21,800 units 4. All materials are added at the beginning of the process. 5. Beginning WIP was $7,657 10 6. Cost of DMadded during the month: $77,000 7. Cost of DL added during the month: $14,200 8. Factory overhead applied during the month: $6,880 13 9. Ending WIP inventory is 20% completed as to conversion costs 14 15 12 Required. 16 1 Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 18 R.Compute cost per equivalent unit for materials and conversion costs 18 4. Using cost per equivalent unit above, determine (A) cost transferred 20 21 22 out of WIP to next department and (B) cost assigned to ending WIP VIP- Blending Dept. 23 Units Units 24 25 26 Beginning 27 28 23 DM 30 31 32 DL 33 34 FOH Group 1 7,657 Beginning 1,900 $ Cost to Complete Total Group 2 Start Compl. 35 36 Total Completed Total 38 39 40 41 Units 43 Group 3 44 Ending 45 46 88288 5885
Transcribed Image Text:G. H. B. Process Cost Practice Quiz Part 1 The following information is related to the blending department: 1. 1,900 units in beginning WIP, 60X completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods completed and transterred total 21,800 units 4. All materials are added at the beginning of the process. 5. Beginning WIP was $7,657 10 6. Cost of DMadded during the month: $77,000 7. Cost of DL added during the month: $14,200 8. Factory overhead applied during the month: $6,880 13 9. Ending WIP inventory is 20% completed as to conversion costs 14 15 12 Required. 16 1 Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 18 R.Compute cost per equivalent unit for materials and conversion costs 18 4. Using cost per equivalent unit above, determine (A) cost transferred 20 21 22 out of WIP to next department and (B) cost assigned to ending WIP VIP- Blending Dept. 23 Units Units 24 25 26 Beginning 27 28 23 DM 30 31 32 DL 33 34 FOH Group 1 7,657 Beginning 1,900 $ Cost to Complete Total Group 2 Start Compl. 35 36 Total Completed Total 38 39 40 41 Units 43 Group 3 44 Ending 45 46 88288 5885
File Home Insert Page Layout Formulas Data Review View Help A2 B: H. 1 Process Cost Quiz - Part 2 3. Units to be Assigned Costs: Equivalent Units Z Conv. Whole Units % DM lirect Materials Conversion 6 Group 1 Beginning Group 2 Start +Compl. 10 11 12 Total Completed and Transterred 13 14 Group 3 15 Ending 16 17 Total Units to be Assigned Costs 18 19 Cost/Equivalent Unit DMCost = Cony Cost = 20 DMEU Conv EU 21 22 Costs Allocated to Completed and Ending Inventory Units 23 Direct Materia Conversion Total 24 Group 1 26 27 28 Group 2 29 •? 30 31 Total Completed 32 33 Group 3 34 36 Total Costs Assigned by Blending Dept. 37 39 Sheet1 Sheet2 Sheet3 O Type here to search (+)
Transcribed Image Text:File Home Insert Page Layout Formulas Data Review View Help A2 B: H. 1 Process Cost Quiz - Part 2 3. Units to be Assigned Costs: Equivalent Units Z Conv. Whole Units % DM lirect Materials Conversion 6 Group 1 Beginning Group 2 Start +Compl. 10 11 12 Total Completed and Transterred 13 14 Group 3 15 Ending 16 17 Total Units to be Assigned Costs 18 19 Cost/Equivalent Unit DMCost = Cony Cost = 20 DMEU Conv EU 21 22 Costs Allocated to Completed and Ending Inventory Units 23 Direct Materia Conversion Total 24 Group 1 26 27 28 Group 2 29 •? 30 31 Total Completed 32 33 Group 3 34 36 Total Costs Assigned by Blending Dept. 37 39 Sheet1 Sheet2 Sheet3 O Type here to search (+)
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