Given the following information: beginning inventory of 3,657 units is 100% complete with regard to materials and 59% complete with regard to conversion • 12,231 units were started during the period 7,844 units were completed and transferred ending inventory is 100% complete with materials and 68% complete with conversion Determine the equivalent units ending work in process for conversion under the weighted-average method. Round to the whole unit, no decimals.

Given the following information: beginning inventory of 3,657 units is 100% complete with regard to materials and 59% complete with regard to conversion • 12,231 units were started during the period 7,844 units were completed and transferred ending inventory is 100% complete with materials and 68% complete with conversion Determine the equivalent units ending work in process for conversion under the weighted-average method. Round to the whole unit, no decimals.

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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Production data show 23,185 units were transferred out of a stage of production and 9,366 units remained in ending WIP inventory that was 100% complete to material and 52% complete to conversion. The unit material cost is $2 for material and $9 for conversion. What is the amount of inventory transferred out? Round to the nearest whole dollar, no decimals.
answer this with correct and complete explanation , computation for each steps clearly answer in text form
Production data show 27,626 units were transferred out of a stage of production and 7,834 units remained in ending WIP inventory that was 100% complete to material and 47% complete to conversion. The unit material cost is $8 for material and $4 for conversion. What is the amount of inventory transferred out? Round to the nearest whole dollar, no decimals.
Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Department ending Work-in-Process Inventory. Complete the Production Cost Report that you began in Requirement 1 by calculating the costs per equivalent unit in this step, and then by calculating the the total cost of units completed and transferred out and of units in ending inventory in the following step. (Complete all input fields. Enter a "0" for any zero balances. Round the cost per equivalent unit amounts to the nearest cent and all other amounts to the nearest dollar. Abbreviation used: EUP = equivalent units of production.)
• beginning inventory of 2,245 units is 100% complete with regard to materials and 86% complete with regard to conversion • 12,873 units were started during the period 6,402 units were completed and transferred ending inventory is 100% complete with materials and 59% complete with conversion Determine the equivalent units of ending work in process for conversion under the weighted-average method. Round to the whole unit, no decimals.
Required information [The following information applies to the questions displayed below.] Units of Percent of Blending Process Beginning work in process Product Conversion 164,000 345,000 375,000 134,000 85% Goods started 100 Goods completed Ending work in process 100 40 Compute the total equivalent units of production for conversion using the weighted-average method. Equivalent units of production (EUP) with respect to conversion - weighted average method Units % Conversion EUP Total
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…
Sheridan Company accumulates the following data concerning raw materials in making one gallon of finished product. (1) Price-net purchase price $3.00, freight-in $0.50, and receiving and handling $0.20. (2) Quantity-required materials 3.50 pounds, allowance for waste and spoilage 0.80 pounds. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) (b) (c) Standard direct materials price per gallon. Standard direct materials quantity per gallon. Total standard materials cost per gallon. ta pounds