Loanstar had 50 units in beginning inventory before starting 900 units and completing 750 units. The beginning work in process inventory consisted of $1,000 in materials and $5,000 in conversion costs before $9,450 of materials and $10,390 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 30% complete with regard to conversion costs. Use the above information to complete a production cost report. Enter all amount as positive values. Production Cost Report Work in process completion percent 100% 30% Material Units Conversion Units Total Units Completed and transferred out fill in the blank f81f5af7d054011_1 fill in the blank f81f5af7d054011_2 fill in the blank f81f5af7d054011_3 Ending work in process fill in the blank f81f5af7d054011_4 fill in the blank f81f5af7d054011_5 fill in the blank f81f5af7d054011_6 Total units to account for fill in the blank f81f5af7d054011_7 fill in the blank f81f5af7d054011_8 fill in the blank f81f5af7d054011_9 Costs to account for Materials Conversion Total Beginning work in process $fill in the blank f81f5af7d054011_10 $fill in the blank f81f5af7d054011_11 $fill in the blank f81f5af7d054011_12 Incurred during the period fill in the blank f81f5af7d054011_13 fill in the blank f81f5af7d054011_14 fill in the blank f81f5af7d054011_15 Total costs to account for $fill in the blank f81f5af7d054011_16 $fill in the blank f81f5af7d054011_17 $fill in the blank f81f5af7d054011_18 Equivalent units fill in the blank f81f5af7d054011_19 fill in the blank f81f5af7d054011_20 fill in the blank f81f5af7d054011_21 Cost per equivalent unit for department $fill in the blank f81f5af7d054011_22 $fill in the blank f81f5af7d054011_23 $fill in the blank f81f5af7d054011_24 Transferred-out costs $fill in the blank f81f5af7d054011_25 End work in process: materials $fill in the blank f81f5af7d054011_26 End work in process: conversion fill in the blank f81f5af7d054011_27 End work in process: total fill in the blank f81f5af7d054011_28 Total costs accounted for $fill in the blank f81f5af7d054011_29 Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department. If an amount box does not require an entry, leave it blank. fill in the blank c1d47ffe5fcb00a_2 fill in the blank c1d47ffe5fcb00a_3 fill in the blank c1d47ffe5fcb00a_5 fill in the blank c1d47ffe5fcb00a_6

Loanstar had 50 units in beginning inventory before starting 900 units and completing 750 units. The beginning work in process inventory consisted of $1,000 in materials and $5,000 in conversion costs before $9,450 of materials and $10,390 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 30% complete with regard to conversion costs. Use the above information to complete a production cost report. Enter all amount as positive values. Production Cost Report Work in process completion percent 100% 30% Material Units Conversion Units Total Units Completed and transferred out fill in the blank f81f5af7d054011_1 fill in the blank f81f5af7d054011_2 fill in the blank f81f5af7d054011_3 Ending work in process fill in the blank f81f5af7d054011_4 fill in the blank f81f5af7d054011_5 fill in the blank f81f5af7d054011_6 Total units to account for fill in the blank f81f5af7d054011_7 fill in the blank f81f5af7d054011_8 fill in the blank f81f5af7d054011_9 Costs to account for Materials Conversion Total Beginning work in process $fill in the blank f81f5af7d054011_10 $fill in the blank f81f5af7d054011_11 $fill in the blank f81f5af7d054011_12 Incurred during the period fill in the blank f81f5af7d054011_13 fill in the blank f81f5af7d054011_14 fill in the blank f81f5af7d054011_15 Total costs to account for $fill in the blank f81f5af7d054011_16 $fill in the blank f81f5af7d054011_17 $fill in the blank f81f5af7d054011_18 Equivalent units fill in the blank f81f5af7d054011_19 fill in the blank f81f5af7d054011_20 fill in the blank f81f5af7d054011_21 Cost per equivalent unit for department $fill in the blank f81f5af7d054011_22 $fill in the blank f81f5af7d054011_23 $fill in the blank f81f5af7d054011_24 Transferred-out costs $fill in the blank f81f5af7d054011_25 End work in process: materials $fill in the blank f81f5af7d054011_26 End work in process: conversion fill in the blank f81f5af7d054011_27 End work in process: total fill in the blank f81f5af7d054011_28 Total costs accounted for $fill in the blank f81f5af7d054011_29 Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department. If an amount box does not require an entry, leave it blank. fill in the blank c1d47ffe5fcb00a_2 fill in the blank c1d47ffe5fcb00a_3 fill in the blank c1d47ffe5fcb00a_5 fill in the blank c1d47ffe5fcb00a_6

Name: Loanstar had 50 units in beginning inventory before starting 900 units
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Loanstar had 50 units in beginning inventory before starting 900 units and completing 750 units. The beginning work in process inventory consisted of $1,000 in materials and $5,000 in conversion costs before $9,450 of materials and $10,390 of convers

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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Use the above information to complete a production cost report. Enter all amount as positive values.

Production Cost Report
Work in process completion percent	100%	30%
	Material Units	Conversion Units	Total Units
Completed and transferred out	fill in the blank f81f5af7d054011_1	fill in the blank f81f5af7d054011_2	fill in the blank f81f5af7d054011_3
Ending work in process	fill in the blank f81f5af7d054011_4	fill in the blank f81f5af7d054011_5	fill in the blank f81f5af7d054011_6
Total units to account for	fill in the blank f81f5af7d054011_7	fill in the blank f81f5af7d054011_8	fill in the blank f81f5af7d054011_9

Costs to account for	Materials	Conversion	Total
Beginning work in process	$fill in the blank f81f5af7d054011_10	$fill in the blank f81f5af7d054011_11	$fill in the blank f81f5af7d054011_12
Incurred during the period	fill in the blank f81f5af7d054011_13	fill in the blank f81f5af7d054011_14	fill in the blank f81f5af7d054011_15
Total costs to account for	$fill in the blank f81f5af7d054011_16	$fill in the blank f81f5af7d054011_17	$fill in the blank f81f5af7d054011_18
Equivalent units	fill in the blank f81f5af7d054011_19	fill in the blank f81f5af7d054011_20	fill in the blank f81f5af7d054011_21
Cost per equivalent unit for department	$fill in the blank f81f5af7d054011_22	$fill in the blank f81f5af7d054011_23	$fill in the blank f81f5af7d054011_24

Transferred-out costs		$fill in the blank f81f5af7d054011_25
End work in process: materials	$fill in the blank f81f5af7d054011_26
End work in process: conversion	fill in the blank f81f5af7d054011_27
End work in process: total		fill in the blank f81f5af7d054011_28
Total costs accounted for		$fill in the blank f81f5af7d054011_29

Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department. If an amount box does not require an entry, leave it blank.

		fill in the blank c1d47ffe5fcb00a_2	fill in the blank c1d47ffe5fcb00a_3
		fill in the blank c1d47ffe5fcb00a_5	fill in the blank c1d47ffe5fcb00a_6

Loanstar had 50 units in beginning inventory before starting 900 units and completing 750 units. The beginning work in process inventory consisted of $1,000 in materials
and $5,000 in conversion costs before $9,450 of materials and $10,390 of conversion costs were added during the month. The ending WIP inventory was 100% complete
with regard to materials and 30% complete with regard to conversion costs.
Use the above information to complete a production cost report. Enter all amount as positive values.
Production Cost Report
Work in process completion percent
100%
30%
Material Units Conversion Units Total Units
Completed and transferred out
Ending work in process
Total units to account for
Costs to account for
Materials
Conversion
Total
Beginning work in process
$
$
$
Incurred during the period
Total costs to account for
$
Equivalent units
Cost per equivalent unit for department
$
$
$4
Transferred-out costs
End work in process: materials
2$
End work in process: conversion
End work in process: total
Total costs accounted for

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