learning resource from Cengage Lea Equivalent Units f Materials Cost The Rolling Department of Kraus Steel Company had 4,900 tons in beginning work in process inventory (50% complete) on October 1. During October, 81,400 tons were completed. The ending work in process inventory on October 31 was 4,100 tons (20% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process? units

learning resource from Cengage Lea Equivalent Units f Materials Cost The Rolling Department of Kraus Steel Company had 4,900 tons in beginning work in process inventory (50% complete) on October 1. During October, 81,400 tons were completed. The ending work in process inventory on October 31 was 4,100 tons (20% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process? units

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Description: Dv2.cengagenow.comChapter 17 PostGrades for Gabriela Maldonado: ACCTO 18-Managerial Accounting-30713CengageNOWv2 | Online teaching and learning resource from Cengage LearningeBookPrint ItemEquivalent Units of Materials CostThe Rolling Department of

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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Problem 1 Delta Corporation uses a process cost system and the FIFO cost flow assumption. Production begins in the Assembly Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On December 1, the beginning work in process inventory consisted of 20,000 units, which were 25% complete (conversion costs) and had a cost of $80,000. During March, the following occurred: Materials added Conversion costs incurred Units started during March Units in ending work in process March 31 (30% complete) Required: Prepare a Production Cost Report for the month ended December 31, 2017. $260,000 $75,000 65,000 19,000
Using average method solve for 1. Unit cost of tranferred unit for finishing department 2. cost of work in process
Good afternoon Please answer part d Elmo has the following information for the month of October, its first month of operationsCosts added in OctoberRequireda) Determine the equivalent units of production for October.b) Determine the cost of the ending work-in-process. c) Determine the cost of goods completedd) What is meant by the term equivalent full units?
bMy Questions | bartleb https//camoenccinstructure.com/courses/3788/assignments/35966?module_iten id-88692 o Busimess and inandat The Kirkland Department of Delta 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 10,000 units. Ending work in process contains 8,000 units that are 100 % complete as to materials and 60% complete as to conversion costs. Compute the equivalent units of production for materials and conversion costs for the month of December. Equivalent Units QUANTITIES Physical Units Materials Conversion Costs Units to be accounted for Work in process, December 1 Started into production Total units Units accounted for Transferred out Work in process, December 31 3 Total units eTextbook and Media
Question Content Area Department A had 4, 800 units in Work in Process that were 79% completed at the beginning of the period at a cost of $6, 100. During the period, 25,000 units of direct materials were added at a cost of $55,000, and 27,700 units were completed. At the end of the period, 2, 100 units were 36% completed. All materials are added at the beginning of the process. Direct labor was $25,200 and factory overhead was $4,200. The cost of the 2,100 units in process at the end of the period if the first - in, first-out method is used to cost inventories was a. $5,521 b. $6, 422 c. $5,071 d. $4,620
Using The FIFO Method of Process Costing, prepare journal entries
2
Problem The Molding Department is the second department in Paxton Company production process. The data below summarize the operations in January. Cost for January Work in process, January 1 Added during the month Beginning work in process inventory Started in January Completed and transferred to the next department during January Ending work in process inventory All materials are added at the start of the process. Materials (Php) Conversion Costs (Php) 35,000 54,000 165,000 315,000 Units Percentage Complete 5,000 55,000 48,000 12,000 Prepare Cost of Production Report using Weighted Average and FIFO Method. 80% 20%
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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…