Mandy Industries is a manufacturer of cleaning products. Its main product goes through two departments: Mixing and Bottling. During June, the beginning WIP in the Mixing department was 32% complete as to conversion cost. The beginning inventory included $15,200 for materials and $19,800 for conversion costs. Ending WIP in the Mixing department was 80% complete. All direct materials are added at the beginning of the process in each department. Inspection occurs at the end of the process in both departments. Normal spoilage is 2.5% of good output in Mixing and 1.4% of good output in Bottling. Beginning WIP in Bottling was 60% complete with respect to conversion costs and ending WIP was 309% converted. Beginning WIP included $8,850 for direct materials, $72,200 for transferred costs and $23,800 for conversion costs. Additional information follows: Mixing Bottling Beginning work-in-process units 45,000 42,000 Units started this period 130,000 Units transferred this period 159,000 187,000 Ending work-in-process units 9,800 10,600 Material costs added $45,500 $35,000 Conversion costs added $209,650 $154,910 Required: Prepare a production cost worksheet using weighted-average for the Mixing department

Mandy Industries is a manufacturer of cleaning products. Its main product goes through two departments: Mixing and Bottling. During June, the beginning WIP in the Mixing department was 32% complete as to conversion cost. The beginning inventory included $15,200 for materials and $19,800 for conversion costs. Ending WIP in the Mixing department was 80% complete. All direct materials are added at the beginning of the process in each department. Inspection occurs at the end of the process in both departments. Normal spoilage is 2.5% of good output in Mixing and 1.4% of good output in Bottling. Beginning WIP in Bottling was 60% complete with respect to conversion costs and ending WIP was 309% converted. Beginning WIP included $8,850 for direct materials, $72,200 for transferred costs and $23,800 for conversion costs. Additional information follows: Mixing Bottling Beginning work-in-process units 45,000 42,000 Units started this period 130,000 Units transferred this period 159,000 187,000 Ending work-in-process units 9,800 10,600 Material costs added $45,500 $35,000 Conversion costs added $209,650 $154,910 Required: Prepare a production cost worksheet using weighted-average for the Mixing department

Name: Mandy Industries is a manufacturer of cleaning prođucts. Its main pro
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Mandy Industries is a manufacturer of cleaning prođucts. Its main product goes through twodepartments: Mixing and Bottling. During June, the beginning WIP in the Mixing đepartmentwas 32% complete as to conversion cost. The beginning inventory incluđ

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

Harson Co. manufactures a single product in two departments: Forming and Assembly. During May, the Forming department completed a number of units of a product and transferred them to Assembly. Of these transferred units, 62,500 were in process in the Forming department at the beginning of May and 175,000 were started and completed in May. May’s Forming department beginning inventory units were 40% complete with respect to materials and 80% complete with respect to conversion. At the end of May, 76,250 additional units were in process in the Forming department and were 80% complete with respect to materials and 20% complete with respect to conversion. The Forming department had $683,750 of direct materials and $446,050 of conversion cost charged to it during May. Its beginning inventory included $99,075 of direct materials cost and $53,493 of conversion cost. 1. Compute the number of units transferred to Assembly. 2. Compute the number of equivalent units with respect to both materials…
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 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: 270,000 225,000 45,000 $1,437,000 $169,000 $338,000 Total units to account for Units accounted for: Total units accounted for Work completed Physical Flow Equivalent Units
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.
Trevor Mills produces agricultural feed at its only plant. Materials are added at the beginning of the process. Information on work-in-process in December follows: Beginning inventory, 56,000 partially complete units, 10 percent complete with respect to conversion costs. Units started in December, 117,000 units. Units transferred out in December, 113,000 units. Ending inventory, 60,000 units, 62 percent complete with respect to conversion costs. Required: Compute the equivalent units for materials and conversion costs for December using the FIFO method.
The Early Pearly Company makes product for lovers only in two departments: Forming and Scenting. Forming began the month with 500 products for lovers only in process that were 100% complete as to material and 40% complete as to conversion. During the month, 6,500 products only for lovers were started. At month end, Forming had 2,100 products for lovers only that were still in process that were 100% complete as to material and 50% complete as to conversion. Assume Forming uses the weighted average method of process costing. Costs in the Forming Department are as follows: Beginning Work in process costs: Material P1,000 Conversion 1,500 Current Costs: Material P3,200 Conversion 5,045 The Scenting Department had 600…
Super Sports Drinks, Inc. has two departments: Mixing and Bottling. Direct materials are added at the beginning of the mixing process and at the end of the bottling process. Conversions costs are added evenly throughout each process. Data for the month of May for the Mixing Department are as follows: Units Amount Beginning Work-in-Process Inventory 0 units Started in production 8,150 units Completed and transferred out to Bottling 4,200 units Ending Work-in-Process Inventory 60% through mixing process 3,950 units Costs Amount Beginning Work-in-Process Inventory $0.00 Costs added during May: Direct Materials $8,581 Direct Labor $2,153 Manufacturing overhead allocated $4,470 Total costs added during May $15,204 Complete the production report for the month of May.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).Super Sports Drinks, Inc. Equivalent Units UNITS Whole Units Transferred…
Q-toric Company manufactures a single product, mushroom soup, which undergoes three production processes (chopping, mixing and packaging) before it can be transferred to finished goods. In the month of February, the chopping department incurred $8,100 and $8,500 for material cost and conversion cost respectively during the month. Beginning inventory was 40 % complete as to conversion costs and materials are added at the beginning of the period at each department. Beginning work in process inventory has 13,733 units, which are attached with $4,400 material costs and $530 conversion costs. The chopping department started 7,100 units during the period. There are 3,600 units remaining in the chopping process at the end of the month, which are 55 % complete as to conversion cost. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole unit or whole dollar. a) Calculate the number of units transferred from the chopping department to the mixing…
Moon Company produces baseball bats and cricket paddles. It has two departments that process all products – Cutting Department and Finishing Department. In Finishing Department, direct materials (DM) are added at the start of the process and conversion costs (CC) are added evenly during the process. Company is using Weighted Average method for the Finishing Department. During July, beginning work in process in the Finishing Department was 80% complete as to conversion. Beginning inventories included $30,800 for transferred-in costs, $13,200 for direct materials, and $27,500 for conversion costs. Ending inventory was 30% complete as to CC. Additional information about the Finishing Department follows: Finishing Beginning work-in-process units 26,400 Units transferred in this period 74,800 Units completed & transferred out 79,200 Ending work-in-process units 22,000 Material costs added $37,400 Conversion costs $75,460…
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 3,500 units that are 100 percent complete for materials and 23 percent complete for conversion. • 15,400 units started during the period. • Ending inventory of 3,400 units that are 14 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,200 ($8,900 materials and $11,300 conversion costs). • Costs added during the month were $29,600 for materials and $54,300 for conversion ($28,200 labor and $26,100 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question…
Beverly Plastics produces a part used in precision machining. The part is produced in two departments: Mixing and Refining. The raw material is introduced into the process in the Mixing Department. The cost of the material fluctuates significantly month to month based on market conditions. Information on costs and operations in the Refining Department for September follow: WIP inventory-Refining Beginning inventory (17,500 units, 10% complete with respect to Refining costs) Transferred-in costs (from Mixing) Refining conversion costs Current work (55,300 units started) Mixing costs Refining costs The ending inventory has 22,900 units, which are 90 percent complete with respect to Refining Department costs. Required: a. Complete the production cost report using the FIFO method. Note: Round "Cost per equivalent unit" to 2 decimal places. Flow of units: Units to be accounted for. Beginning WIP inventory Units started this period Total units to account for Units accounted for: Completed…
Super Sports Drinks, Inc. has two departments: Mixing and Bottling. Direct materials are added at the beginning of the mixing process and at the end of the bottling process. Conversions costs are added evenly throughout each process. Data for the month of May for the Mixing Department are as follows: Units Amount Beginning Work-in-Process Inventory 0 units Started in production 7,780 units Completed and transferred out to Bottling 4,110 units Ending Work-in-Process Inventory 60% through mixing process 3,670 units Costs Amount Beginning Work-in-Process Inventory $0.00 Costs added during May: Direct Materials $8,531 Direct Labor $2,264 Manufacturing overhead allocated $4,680 Total costs added during May $15,475 Complete the production report for the month of May.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).
Alchemy Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments Mixing, Refining, and Packaging. On January 1, the first department-Mixing-had no beginning inventory. During January, 52,000 fl. oz. of chemicals were started in production. Of these, 36,000 fl. oz. were completed and 16,000 fl. oz. remained in process. In the Mixing Department, all direct materials are added at the beginning of the production process, and conversion costs are applied evenly throughout the process. The weighted average method is used. At the end of the month, Alchemy calculated equivalent units of production. The ending inventory in the Mixing Department was 70% complete with respect to conversion costs. With respect to direct materials, what is the number of equivalent units of production in the ending inventory? OA. 16,000 equivalent units B. 36,000 equivalent units OC. 52,000 equivalent units OD. 11,200 equivalent units ***