Prepare a production report for the Mixing Department for May. If an answer is zero, enter "0".Limpiar CompanyMixing DepartmentProduction Report for MayUnits to account for:Total units to account forUnits accounted for:Total units accounted forWork completedCosts to account for:Total costs to account forCost per equivalent unitCosts accounted for:Total costs accounted forUnit InformationPhysical FlowCost Information$$$Equivalent Units Limpiar Company produces a liquid household cleaning product. The Mixing Department, the first process department, mixes the ingredients required for the cleaning product. The following data are for May:Work in process, May 1Quarts startedQuarts transferred outQuarts in EWIPDirect materials costDirect labor costOverhead appliedDirect materials are added throughout the process. Ending inventory is 40 percent complete with respect to direct labor and overhead.Required:Prepare a production report for the Mixing Department for May. If an answer is zero, enter "0".Limpiar CompanyMixing DepartmentProduction Report for MayUnit InformationUnits to account for:270,000225,00045,000$1,437,000$169,000$338,000Total units to account forUnits accounted for:Total units accounted forWork completedPhysical FlowEquivalent Units

Name: Prepare a production report for the Mixing Department for May. If an
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Prepare a production report for the Mixing Department for May. If an answer is zero, enter "0".Limpiar CompanyMixing DepartmentProduction Report for MayUnits to account for:Total units to account forUnits accounted for:Total units accounted forWork

Process Costing : Operation costing method employed to determine the value of a product at each…

Business

Accounting

Limpiar Company produces a liquid household cleaning product. The Mixing Department, the first process department, mixes the ingredients required for the cleaning product. The following data are for Work in process, May 1 Quarts started Quarts transferred out Quarts in EWIP Direct materials cost Direct labor cost Overhead applied Direct materials are added throughout the process. Ending inventory is 40 percent complete with respect to direct labor and overhead. Required: Prepare a production report for the Mixing Department for May. If an answer is zero, enter "0". Limpiar Company Mixing Department Production Report for May Unit Information Units to account for: Total units to account for Units accounted for: $1,437,000 $169,000 $338,000 270,000 225,000 45,000 Total units accounted for Work completed Physical Flow Equivalent Units

Limpiar Company produces a liquid household cleaning product. The Mixing Department, the first process department, mixes the ingredients required for the cleaning product. The following data are for Work in process, May 1 Quarts started Quarts transferred out Quarts in EWIP Direct materials cost Direct labor cost Overhead applied Direct materials are added throughout the process. Ending inventory is 40 percent complete with respect to direct labor and overhead. Required: Prepare a production report for the Mixing Department for May. If an answer is zero, enter "0". Limpiar Company Mixing Department Production Report for May Unit Information Units to account for: Total units to account for Units accounted for: $1,437,000 $169,000 $338,000 270,000 225,000 45,000 Total units accounted for Work completed Physical Flow Equivalent 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

Shirley Processing, Incorporated (SPI) makes adhesive tape. The following information on the physical flow of units and costs for month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Physical units Percentage Complete. Materials 107,000 100% Conversion 40% 957,000 1,064,000 975,500 100% 100% 88,500 100% 20% 1,064,000 Cost Beginning work-in-process Current period Total $ 186,570 1,871,298 Direct Materials $ 167,180 1,234,530 Conversion $ 19,390 636,768 Total $ 2,057,868 $ 1,401,710 $ 656,158 Required: a. Compute the equivalent units for the conversion cost calculation for March assuming Shirley Processing. Incorporated uses the weighted-average method. b. Compute the cost per equivalent unit for direct materials and conversion costs for March assuming Shirley Processing, Incorporated uses the weighted-average method. Complete this question by entering your answers in the tabs below. Required A Required B Compute…
Hardev
Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started into production during the month Units completed and transferred out Costs added to production during the month: Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent…
Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process—Filling on April 1 and debits to the account during April were as follows:Bal., 800 units, 30% completed:Direct materials (800 × $4.30) $ 3,440Conversion (800 × 30% × $1.75) 420 $ 3,860From Cooking Department, 7,800 units $34,320Direct labor 8,562Factory overhead 6,387During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed.Charges to Work in Process—Filling for May were as follows:From…
Required information [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Debit Work in Process-Mixing Department Credit 27,000 Completed and transferred to Finished Goods 151, 100 95,500 113,000 ? Conversion cost transferred to finished goods The June 1 work in process inventory consisted of 4,400 units with $14,100 in materials cost and $12,900 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 36,900 units were started into production. The…
Required information [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Debit Work in Process-Mixing Department Total cost of conversion Credit 28,000 Completed and transferred to Finished Goods 147,630 93,500 111,000 ? The June 1 work in process inventory consisted of 4,600 units with $15,000 in materials cost and $13,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 37,100 units were started into production. The June 30 work in process…
Munabhai
Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): Work in Process-Mixing Department 28,000 June 1 balance Materials Direct labor Overhead June 30 balance Debit 120,000 79,500 97,000 Foundational 5-7 (Static) Credit Completed and transferred to Finished Goods ? The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 50% complete with respect to conversion. During June, 37,500 units were started into production. The June 30 work in process inventory consisted of 8,000 units that were 100% complete with respect to materials and…
Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Materials Direct labor Overhead June 30 balance Debit Foundational 4-14 (Algo) Work in Process-Mixing Department 27,000 154,205 98,500 116,000 ? Credit Completed and transferred to Finished Goods The June 1 work in process inventory includes 4,100 units with $14,700 in materials cost and $12,300 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 36,600 units were started into production. The June 30 work in process inventory consisted of 9,400 units 100% complete with respect to materials and 50% complete…
Friedman Company has a production process that involves three processes. Units move through the processes in this order: cutting, stamping, and then polishing. The company had the following transactions in November: View the transactions. Prepare the joumal entries for Friedman Company. (Record debits first, then credits. Exclude explanations from journal entries.) 1. Cost of units completed in the Cutting Department, $14,000 Date Nov. 30 Accounts Debit Credit Transactions 1. Cost of units completed in the Cutting Department, $14,000 2. Cost of units completed in the Stamping Department, $28,000 $39,000 3. Cost of units completed in the Polishing Department, 4. Sales on account, $40,000 5. Cost of goods sold is 80% of sales - X