In a process 8000 units are introduced during a period. 5% of input is normal loss. Closing Work in progress is 60% complete is 1000 units. 6600 completed units are transferred to next process. Equivalent production for the period is: 8000 units 9000 units 5400 units O 7200 units

In a process 8000 units are introduced during a period. 5% of input is normal loss. Closing Work in progress is 60% complete is 1000 units. 6600 completed units are transferred to next process. Equivalent production for the period is: 8000 units 9000 units 5400 units O 7200 units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 8000 units were introduced in the process. Normal loss is 5%. 6600 units were transferred to the…

A: Equivalent units is the number of units that is completed or manufactured in a particular accounting…

Q: Production in progress on June 1st for Company A was 100000 units (Materials 60% complete and…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: A process with 1200 units of beginning work in process, completed and transferred out 24000 units…

A: Equivalent unit for Ending work in process = ending work in process x % of Materials added = 9000…

Q: if the beginning work in process equivalent units are 2500 units, work done in current period…

A: Equivalent units: These include all the partially completed units at the closing of the period on…

Q: A company produces a single product that passes through two processes. The details for process 1 are…

A: Normal Losses = Material input x 15% = 20000 kg x 15% = 3000 kg

Q: .Carl Co. uses a weighted average process costing system. Material is added at the start of the…

A: Total no. of units available = Beginning work in process inventory + No. of units started = 13,000…

Q: 25. Production records show: beginning work in process of 10,000 units (50% material, 80%…

A: Process costing is one of the important method of cost accounting being used in business. This is…

Q: A Process has an opening work in process of 1200 units for the month costing RO.3600. (80%…

A: Value of Closing wip Material = 600 x2.04 x50%=612 Labor= 600 x 1.19 x60% =428 Overhead = 600 x 0.79…

Q: Equivalent Units of Production The Converting Department of Worley Company had 720 units in work in…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: gWork in Process: P1,250,000 P150,000 P7.400.000

A: Calculate the no. of equivalent units of production as follows: Units Particulars Units out…

Q: 1. A p C Over direc Igno

A: Lets understand the basics. When there are more than one process is required for the production of…

Q: The Rolling Department of Kraus Steel Company had 7,500 tons in beginning work in process inventory…

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: A production department's output for the most recent month consisted of 11,000 units completed and…

A: Lets understand the basics. There are two methods for calculating equivalent units. (1) FIFO method…

Q: A process manufacturer reports the following: Units Conversion Percent Complete Beginning work in…

A: number of units started and completed this period = Units completed and transferred out - Units…

Q: Department S had 600 units 69% completed in process at the beginning of the period, 8,300 units…

A: No. of units started and completed = No. of units completed - Beginning units in process = 8300 -…

Q: The following information is available for ABC Company for April: Started this month 80,000 units…

A: Units started: 80,000 Units completed: 72,500

Q: What is the Equivalent Units of Production?

A: Equivalent unit of production is a term that is used to be applied to the work in progress inventory…

Q: Equivalent Units of Conversion Costs The Rolling Department of Jabari Steel Company had 7, 860 tons…

A: FIFO METHOD :— Under this method, equivalent units are calculated by adding equivalent units in…

Q: Department S had 500 units 70% completed in process at the beginning of the period, 8,600 units…

A: Introduction: Equivalent production units are represented by the work-in-process inventory at the…

Q: What are the total equivalent units for conversion costs?

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: ng work in process, completed and transferred out 85900 units during a period and had 49900 units in…

A: The cost function is a function that is used to show how production expense will change at different…

Q: Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 5,000…

A: Equivalent units are notional whole units that are calculated under process costing to allocate the…

Q: Department S had 500 units 70% completed in process at the beginning of the period, 8,600 units…

A: Introduction: Equivalent units of production are the work-in-process inventory at the end of an…

Q: What are the total equivalent units for conversion costs? fill in the blank 1 units

A: Given information is: The Filling Department of Ivy Cosmetics Company had 6,000 ounces in beginning…

Q: In the Shaping Department of Coronado Company the unit materials cost is $3.00 and the unit…

A: Work in process inventory can define as inventory which is not completed or which is in the middle…

Q: A process's beginning work in process inventory consists of 10,000 units that are 20% complete with…

A: Formula: Equivalent units of production = Units completed and transferred + Work in process…

Q: Compute the total equivalent units of production for conversion with 80% complete for Beginning WIP…

A: EQUIVALENT UNITS OF PRODUCTION Equivalent Production is represents the production of a process in…

Q: Georgia Pacific completed and transferred 35,000 units of its product to a second department during…

A: Equivalent units is basically a concept in costing, which converts the partially completed output…

Q: In the Shaping Department of Sheffield Company the unit materials cost is $2.00 and the unit…

A: Given, Ending work in process = 1,800 units Unit material cost = $2.00 Unit conversion cost = $1.50…

Q: Fill in the Blank Question E A manufacturing company has a production where one-half of the…

A: Equivalent units of production is calculated under process costing where there is more than one…

Q: Gannon Company uses the FIFO method to compute equivalent units. It has 4,000 units in beginning…

A: Formula: Beginning completed units = Beginning work in process x ( 100 - 20 % )

Q: The following info aiapUPAP SL UOI Started this month 80,000 units Beginning WIP (60% incomplete)…

A: Process costing: It is one of the cost accounting techniques used for the calculation manufacturing…

Q: You are provided the following production information for the month of October 2020: O/B WIP Units…

A: In the given question materials are added after the completion of following stage Material A - is…

Q: A process with no beginning work in process, completed and transferred out 85400 units during a…

A: Formula: Equivalent units of production = Units completed and transferred out + Equivalent units of…

Q: During the accounting period， 20,000 units were completed and transferred to finished goods. The…

A: Under process accounting, the equivalent units completed are calculated at the end of period to find…

Q: In process A, the opening stock was 1,000 units. 4,000 units were introduced during the process.…

A: Before becoming a finished product, an item may be required to be passed from different processes.…

Question

In a process 8000 units are introduced during a period. 5% of input is normal loss. Closing Work in progress is 60% complete is
1000 units. 6600 completed units are transferred to next process. Equivalent production for the period is:
8000 units
9000 units
5400 units
O 7200 units
blems

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

6. Production department records show the following: beginning work in process of 25,000 units (100% material, 30% conversion): 80,000 units started; and ending work in process of 12,000 units (100% material, 40% conversion). The company uses the FIFO method. The total equivalent units of production for the period are: A .105,000 units material, 97,800 units conversion B. 25,000 in process, beginning, and 93,000 units transferred ou C. answer not given D. 80,000 units material, 90,300 units conversion E. 93,000 units material, 90,300 units conversion
A company began its operations by starting 30,000 units in production. During the month, 22,000 were completed and transferred out while the remaining units were 45% complete. The equivalent units for conversion costs would be: a) 25,600 units b) 22,000 units c) 26,400 units d) 30,000 units
You are provided with the following information for the month of October 2020 O/B WIP unit started C/B wip Number of unit: 2730 27931 1875 Percentage com:25% 60% The material in the production process are added at the following stages: Material A: 0% Material B : 40% Material C : 80% What is the equivalent units of material B in the opening work in progress
Atypical Manufacturing is trying to determine the equivalent units for conversion costs with 40,000 units of ending work in process at 40% completion and 73,000 physical units. There are no beginning units in the department. Conversion costs occur evenly throughout the entire production period. What are the equivalent units for conversion costs for the current period? O 49,000 O 76,500 33,000 O 113,000
A process with no beginning work in process, completed and transferred out 85,000 units during a period and had 50,000 units in the ending work in process inventory that were 20% complete. The equivalent units of production for the period were: Select one: U a. 70,000 equivalent units. b. 85,000 equivalent units. C. None of the answers are correct d. 100,000 equivalent units. e. 95,000 equivalent units.
Exciting Products transferred 18,000 units to one department. An additional 5,000 units were added in the department. At the end of the month, 16,000 units were transferred to the next department, 6,000 units remained in work in process, 60% complete as to conversion costs and the remaining units were lost at the 80% stage of conversion. Beginning inventory was 60% complete as to conversion costs, and lost units were the result of normal production shrinkage. The equivalent units of conversion cost using FIFO is:
4,000 units are introduced in a process. Normal loss is 5%. During the process 3,400 units are completed and transferred to next process. 200 units are lost due to an accident (100% complete) and 400 units are not completed yet. If the degree of completion of incomplete units is material 80% and Labour 50%, completed units for material and labour will be: O a. Material 3,920 units and labour 3,800 units O b. Material 3,800 units and labour 3,725 units O C. Material 3,800 units and labour 3,900 units Od. Material 3,680 units and labour 3,800 units
Compute for Equivalent Units of Production by preparing a Quantity Schedule
Equivalent Units of Conversion Costs The Rolling Department of Oak Ridge Steel Company had 5,236 tons in beginning work in process inventory (70% complete) on July 1. During July, 74,800 tons were completed. The ending work in process inventory on July 31 was 5,984 tons (10% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.fill in the blank 1 units
There are no units in process at the beginning of the period, 1,000 units in process at the end of the period that are 40% complete, and 5,000 units transferred out during the period. Based on this information, there were 4,600 equivalent units of production during the period. True or False?
Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 4,700 ounces in beginning work in process inventory (90% complete). During the period, 33,500 ounces were completed. The ending work in process inventory was 1,700 ounces (70% complete). What are the total equivalent units for conversion costs? 38,920 X units. Feathark
Compute the Equivalent units of production (EUP):Units received from preceding department 25,000 unitsUnits completed and transferred 14,000 unitsUnits in process, end (30% incomplete) 11,000 unitsCompute the equivalent production for conversion if 40% of materials are added at the beginning and the remaining 60% are added 75% completed