Last month, the painting department of Surfaces Company started 20,000 units into production. The department had 6,000 units in process at the beginning of the month and these were 30% complete with respect to conversion costs. There were 8,000 units in process at the end of the month, which were 40% complete with respect to conversion costs. A total of 18,000 units were completed and transferred to the next department during the month. Under the weighted-average method, what would the equivalent units of production for conversion costs for the month be?, OA. 23,000 OB. 18,800 OC. 21,000 OD. 21,200

Last month, the painting department of Surfaces Company started 20,000 units into production. The department had 6,000 units in process at the beginning of the month and these were 30% complete with respect to conversion costs. There were 8,000 units in process at the end of the month, which were 40% complete with respect to conversion costs. A total of 18,000 units were completed and transferred to the next department during the month. Under the weighted-average method, what would the equivalent units of production for conversion costs for the month be?, OA. 23,000 OB. 18,800 OC. 21,000 OD. 21,200

Name: Last month, the painting department of Surfaces Company started 20,00
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Last month, the painting department of Surfaces Company started 20,000 units into production. The department had 6,000units in process at the beginning of the month and these were 30% complete with respect to conversion costs. There were8,000 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

Similar questions

At the start of June, the Polishing Department of Corona Counters, Inc. had 15,000 units in beginning inventory. During the month, it received 25,000 units from the Machining Department. It started and completed 17,000 units and transferred 32,000 units to the Packaging Department. It had 8,000 units in ending Work-in-Process Inventory. Direct materials are added at the beginning of the process. Units in beginning Work-in-Process Inventory were 50% complete in respect to conversion costs. Units in ending Work-in-Process Inventory were 40% complete with respect to conversion costs. Prepare the production cost report for the Polishing Department for the equivalent units of production for the month of June. Use the FIFO method.
The Mixing Department of Foods for You had 50,000 units to account for in October. Of the 50,000 units, 15,000 units were completed and transferred to the next department, and 35,000 units were 45% complete for conversion work. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the mixing process and the company uses the weighted-average method. Compute the total equivalent units of production for direct materials and conversion costs for October. Foods for You Production Cost Report - Mixing Department (Partial) Month Ended October 31 UNITS Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for Physical Units 15,000 35,000 50,000 Equivalent Units Direct Materials 15,000 35,000 50,000 Conversion Costs 15,000 15000 35000 ...
In the month of June, a department had 23000 units in beginning work in process inventory that were 60% complete. During June, 88000 units were transferred into production from another department. At the end of June there were 11000 units in ending work in process inventory that were 30% complete as to conversion. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. How many units were transferred out in June? O 88000 units. O 100000 units. O 111000 units. O 77000 units.
2. The Finishing Department started the month with 500 units in process, received 2,000 units from the Assembly Department, and transferred 2,100 units to the finished goods storage area. All direct materials are added at the beginning of the process. The units in process at the end of the month are 45% complete with respect to conversion costs. The department uses the weighted-average method. The Finishing Department incurred the following costs: Added this month Total $ 25,000 $ 31,250 2,000 2,500 5,590 6,840 $ 32,590 $ 40,590 Transferred In Direct Materials Conversion Costs Total Beginning WIP $ 6,250 500 1,250 $ 8,000 1). How many units are still in process at the end of the month? 2). Compute the equivalent units of production for the Finishing Department. 3). Determine the cost per equivalent unit for transferred in, direct materials, and conversion costs. 4). Determine the cost to be transferred to Finished Goods Inventory.
During January, the production department of a process operations system completed and transferred to finished goods a total of 70,000 units. At the end of January, 14,000 additional units were in process in the production department and were 50% complete with respect to conversion. The beginning inventory included conversion cost of $40,700 and the production department incurred conversion costs of $323,100 during January. Compute the cost per equivalent unit for conversion for the department using the weighted-average method.
The Nitrogen Fixation Department of Tomco Company began the month of December with beginning work in process of 4,000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 12,000 units. Ending work in process contains 10,000 units that are 100% complete as to materials and 40% complete as to conversion costs. Compute the equivalent units of production for materials and conversion costs for the month of December. Using the Quantities/Equivalent Units reporting matrix in Chap 7.
Assembly department of Zahra Technologies had 200 units as work in process at the beginning of the month. These units were 50% complete. It has 300 units which are 30% complete at the end of the month. During the month, it completed and transferred 600 units. Direct materials are added at the beginning of production. Conversion costs are allocated evenly throughout production. Zahra uses weighted-average process-costing method. What is the number of equivalent units of work done during the month with regards to direct materials? A) 700 units B) 1,100 units C) 900 units D) 600 units
The Cutting department of Heart Corporation in the month of March started with beginning work in process of 4,000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 10,000 units. Ending work in process contains 1,000 units that are 100% complete as to materials and 60% complete as to conversion costs. Instructions: Compute the equivalent units of production for materials and conversion costs for the month of March. Compute the equivalent units of production for materials and conversion costs for the month of March.
Hampton Textile Co., manufactures a variety of fabrics. Materials are added as follows: 50% is added at the beginning of production, 35% is added when production is at 60%, and 15% is added when production is at 90%. Conversion cost is incurred evenly through manufacturing. The Weaving Department had 2,000 units of work in process in April 1 that were 40% complete as to conversion costs. During April, 9,000 units were completed and on April 30, 4,000 units remained in production. 20% incomplete with respect to conversion costs. What are the equivalent units of production for materials using FIFO?
In the month of March, a department had 7500 units in beginning Work in Process Inventory that were 80% complete. During March, 30300 units were transferred into production from another department. At the end of March there were 2500 units in ending Work in Process Inventory that were 80% complete. Direct materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. The weighted-average method is used. How much are equivalent units of production for direct materials for March? O 37300 equivalent units of production O 28300 equivalent units of production 37800 equivalent units of production 40300 equivalent units of production
Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units Beginning inventory of 3,000 units that are 100 percent complete for materials and 25 percent complete for conversion. 14,700 units started during the period. Ending inventory of 3,400 units that are 13 percent complete for conversion. Manufacturing Costs Beginning inventory was $19,800 ($9,700 materials and $10,100 conversion costs). Costs added during the month were $28,900 for materials and $48,900 for conversion ($27,600 labor and $21,300 applied overhead). I need help determining the costs to be assigned to the units transferred out and the units still in process.