#2pped"rintSavedGreat Pasta Company manufactures a single product that goes through two processes - mixing and cooking. The following data pertains to the Mixing Department for September.ПетрWork-in-process Inventory September 1Conversion completeWork-in-process inventory September 30Conversion completeUnits started into production in SeptemberUnits completed and transferred outCostsWork-in-process inventory September 1Material PMaterial QConversionCosts added in SeptemberMaterial PMaterial QConversion33,000 units70%22,000 units50%100,000? units$ 167,000153,000167,000$ 251,000230,000494,200Material P is added at the beginning of work in the Mixing Department. Material Q is also added in the Mixing Department, but not until units of product are forty percent completed with regard to conversion. Conversion costs are incurred uniformlyduring the process.Cost per equivalent unit for conversion under the weighted-average method is calculated to be:Multiple Choice$3.14.$2.41.$4.81.$5.42.$2.88.

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Description: #2pped"rintSavedGreat Pasta Company manufactures a single product that goes through two processes - mixing and cooking. The following data pertains to the Mixing Department for September.ПетрWork-in-process Inventory September 1Conversion completeWo

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Great Pasta Company manufactures a single product that goes through two processes - mixing and Work-in-process Inventory September 1 Conversion complete Work-in-process inventory September 30 Conversion complete Units started into production in September Units completed and transferred out Costs Work-in-process inventory September 1 Material P Material Q Conversion Costs added in September 33,000 units 70% 22,000 units 50% 100,000 ? units $ 167,000 153,000 167,000 Material P Material Q Conversion $ 251,000 230,000 494,200 Material P is added at the beginning of work in the Mixing Department. Material Q is also added in th during the process. Cost per equivalent unit for conversion under the weighted-average method is calculated to be: Multiple Choice $3.14. $2.41. O O O O O $4.81. $5.42 $2.88.

Great Pasta Company manufactures a single product that goes through two processes - mixing and Work-in-process Inventory September 1 Conversion complete Work-in-process inventory September 30 Conversion complete Units started into production in September Units completed and transferred out Costs Work-in-process inventory September 1 Material P Material Q Conversion Costs added in September 33,000 units 70% 22,000 units 50% 100,000 ? units $ 167,000 153,000 167,000 Material P Material Q Conversion $ 251,000 230,000 494,200 Material P is added at the beginning of work in the Mixing Department. Material Q is also added in th during the process. Cost per equivalent unit for conversion under the weighted-average method is calculated to be: Multiple Choice $3.14. $2.41. O O O O O $4.81. $5.42 $2.88.

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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Accounting Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 3,000 100% 40% Units started this period 21,600 Units completed and transferred out 22,200 Ending work in process inventory 2,400 100% 80% Beginning work in process inventory Direct materials $ 19,800 Conversion 221,940 $ 241,740 Costs added this period Direct materials 496,800 Conversion 2,165,940 2,662,740 Total costs to account for $ 2,904,480 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200. Required: 1. Prepare the Forming department's production cost report for May using FIFO. 2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly.
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Units to be Assigned Costs Question 11 Eve Cosmetics Company consists of two departments, Blending and Filling. The Filling Department received 51,800 ounces from the Blending Department. During the period, the Filling Department completed 53,200 ounces, including 3,500 ounces of work in process at the beginning of the period. The ending work in process inventory was 2,100 ounces. How many ounces were started and completed during the period?fill in the blank 1 ounces
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ces Beginning work in process inventory Units started this period Beginning work in process Direct materials Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Conversion Costs added this period Direct materials Conversion Total costs to account for Required A Required B Required C Units Costs of beginning work in process Costs added this period Total costs Equivalent units of production (from part a) Cost per equivalent unit of production 320,000 312,000 35,000 $ $ $ 40,000 16,100 Complete this question by entering your answers in the tabs below. 1,660,000 929,300 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming departm c. Using the weighted average method, assign costs to the forming department's output-specifically, its units…