iven the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 30% complete with regard to conversion costs. Costs to Account for Units to Account for Beginning inventory: materials $4,900 Beginning work in process 4,000 Beginning inventory: conversion 900 Units started into production 85,000 Direct material 22,700 Transferred out 85,000 Direct labor 36,940 Applied overhead 12,300 Transferred-in materials 8,000 Transferred-in conversion 10,200 Total costs to account for $95,940 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places. Production Report Completed and transferred out fill in the blank 1 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 30% Material Units Conversion Units Total Units Completed and transferred out fill in the blank 4 fill in the blank 5 fill in the blank 6 Ending work in process fill in the blank 7 fill in the blank 8 fill in the blank 9 Total units to account for fill in the blank 10 fill in the blank 11 fill in the blank 12 Costs to account for Materials Conversion Total Beginning work in process $fill in the blank 13 $fill in the blank 14 $fill in the blank 15 Transferred in fill in the blank 16 fill in the blank 17 fill in the blank 18 Incurred during the period fill in the blank 19 fill in the blank 20 fill in the blank 21 Total costs to account for $fill in the blank 22 $fill in the blank 23 $fill in the blank 24 Equivalent units fill in the blank 25 fill in the blank 26 Cost per equivalent unit for department $fill in the blank 27 $fill in the blank 28 $fill in the blank 29 Transferred-out costs $fill in the blank 30 End work in process: materials $fill in the blank 31 End work in process: conversion fill in the blank 32 End work in process: total fill in the blank 33 Costs to account for $fill in the blank 34

iven the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 30% complete with regard to conversion costs. Costs to Account for Units to Account for Beginning inventory: materials $4,900 Beginning work in process 4,000 Beginning inventory: conversion 900 Units started into production 85,000 Direct material 22,700 Transferred out 85,000 Direct labor 36,940 Applied overhead 12,300 Transferred-in materials 8,000 Transferred-in conversion 10,200 Total costs to account for $95,940 Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places. Production Report Completed and transferred out fill in the blank 1 Ending work in process fill in the blank 2 Total units to account for fill in the blank 3 Work in process completion percent 100% 30% Material Units Conversion Units Total Units Completed and transferred out fill in the blank 4 fill in the blank 5 fill in the blank 6 Ending work in process fill in the blank 7 fill in the blank 8 fill in the blank 9 Total units to account for fill in the blank 10 fill in the blank 11 fill in the blank 12 Costs to account for Materials Conversion Total Beginning work in process $fill in the blank 13 $fill in the blank 14 $fill in the blank 15 Transferred in fill in the blank 16 fill in the blank 17 fill in the blank 18 Incurred during the period fill in the blank 19 fill in the blank 20 fill in the blank 21 Total costs to account for $fill in the blank 22 $fill in the blank 23 $fill in the blank 24 Equivalent units fill in the blank 25 fill in the blank 26 Cost per equivalent unit for department $fill in the blank 27 $fill in the blank 28 $fill in the blank 29 Transferred-out costs $fill in the blank 30 End work in process: materials $fill in the blank 31 End work in process: conversion fill in the blank 32 End work in process: total fill in the blank 33 Costs to account for $fill in the blank 34

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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Question

Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 30% complete with regard to conversion costs.

Costs to Account for		Units to Account for
Beginning inventory: materials	$4,900	Beginning work in process	4,000
Beginning inventory: conversion	900	Units started into production	85,000
Direct material	22,700	Transferred out	85,000
Direct labor	36,940
Applied overhead	12,300
Transferred-in materials	8,000
Transferred-in conversion	10,200
Total costs to account for	$95,940

Enter all amounts as positive values. If required round "Cost per unit" answers to two decimal places.

Production Report
Completed and transferred out	fill in the blank 1
Ending work in process	fill in the blank 2
Total units to account for	fill in the blank 3

Work in process completion percent	100%	30%
	Material Units	Conversion Units	Total Units
Completed and transferred out	fill in the blank 4	fill in the blank 5	fill in the blank 6
Ending work in process	fill in the blank 7	fill in the blank 8	fill in the blank 9
Total units to account for	fill in the blank 10	fill in the blank 11	fill in the blank 12

Costs to account for	Materials	Conversion	Total
Beginning work in process	$fill in the blank 13	$fill in the blank 14	$fill in the blank 15
Transferred in	fill in the blank 16	fill in the blank 17	fill in the blank 18
Incurred during the period	fill in the blank 19	fill in the blank 20	fill in the blank 21
Total costs to account for	$fill in the blank 22	$fill in the blank 23	$fill in the blank 24
Equivalent units	fill in the blank 25	fill in the blank 26
Cost per equivalent unit for department	$fill in the blank 27	$fill in the blank 28	$fill in the blank 29

Transferred-out costs		$fill in the blank 30
End work in process: materials	$fill in the blank 31
End work in process: conversion	fill in the blank 32
End work in process: total		fill in the blank 33
Costs to account for		$fill in the blank 34

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