Materials costs of $1210000 and conversion costs of $1540000 were charged to aprocessing department in the month of September. Materials are added at thebeginning of the process, while conversion costs are incurred uniformly throughoutthe process. There were no units in beginning work in process, 20000 units werestarted into production in September, and there were 5000 units in ending work inprocess that were 50% complete at the end of SeptemberWhat was the total amournt of manufacturing costs assigned to work in processending inventory at the end of September? (For the intermediate calculations of unitmaterial cost and unit conversion cost, round to four decimal points.O $605000.O $522500.$687500.$302500.eTextbook and Media

Manufacturing Cost: A manufacturing cost is the cost of the entire resources consumed by a product…

Answered: Materials costs of $1210000 and…

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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Data for June are as follows for Superior Corp., which uses FIFO process costing: Units Beginning work in process Units started in process 5,600 114,000 Costs Beginning work in process: $18,500 $3,700 Materials Conversion June's costs: Materials $444,300 Conversion 190,700 All materials are added at the beginning of the process. The beginning work in process was 20 percent complete for conversion costs. During June, 116,200 units were completed. The ending work in process was 30 percent complete as to conversion costs. Cost of ending work in process = $
The Kirkland Department of Delta Company began the month of December with beginning work in process of 4,000 units that are 80% complete as to materials and 20% complete as to conversion costs. Units transferred out are 12,000 units. Ending work in process contains 2,000 units that are 80% complete as to materials and 60% complete as to conversion costs. Compute the equivalent units of production for materials using the FIFO method? a-10,000 b-12,000 c-12,400 d-10,400 e-12,800
Data for June are as follows for Superior Corp., which uses FIFO process costing: Units Beginning work in process 5,600 Units started in process 114,000 Costs Beginning work in process: Materials $18,500 Conversion $3,700 June's costs: Materials $444,300 Conversion 190,700 All materials are added at the…
ABC Company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately. The production quantity schedule for April is reproduced below: Work in process on April 1 (60% complete as to conversion costs) 1,000 Units started during April 5,000 Total units to account for 6,000 Units completed and transferred out 4,000 Work in process on April 30 (20% complete as to conversion costs) 2,000 Total units accounted for 6,000 Costs pertaining to the month of April are as follows: Beginning inventory costs: (DM, $54,600; Conversion, $35,560) $90,160 Costs incurred during April (DM, $468,000; Conversion $574,060) $1,042,060 Question #1: Using the weighted average method, the equivalent unit materials cost for April is? Question #2: Using the weighted average method, the 4,000 units completed during April will be transferred out at an EUP unit cost of?
Pearl Company has the following production information for October: 60,000 units transferred out and 20,000 units in ending work in process that are 100 percent complete for materials and 60 percent complete for conversion costs. Materials cost is $12 per equivalent unit and conversion cost is $16 per equivalent unit. Determine the cost assigned to the units transferred out and the units in ending work in process using the weighted-average method.

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