Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process Inventory In Its Painting Department consisted of 3,800 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs.The cost of the beginning work in process Inventory in the department was recorded as $10,600. During the period, 9,800 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $5.80 for material and $6.80 for conversioncosts. The cost of units transferred out during the month was:Multiple ChoiceО$66,800$123,480$66,640$84,40013

Option (2) $123,480Explanation:Given information, Units completed and transferred out during the…

Answered: Mundes Corporation uses the…

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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Hache Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 17,550 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $7,920. An additional 90,100 units were started into production during the month and 93,100 units were completed in the Welding Department and transferred to the next processing department. There were 14,550 units in the ending work in process inventory of the Welding Department that were 90% complete with respect to conversion costs. A total of $203,500 in conversion costs were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to: Multiple Choice A. $2.020 B. $2.255 C. $1.991 D. $2.329
The Fremont Company uses the weighted-average method in its process costing system. The company recorded 37,025 equivalent units for conversion costs for November in a particular department. There were 6,700 units in the ending work-in-process inventory on November 30, 75% complete with respect to conversion costs. The November 1 work-in-process inventory consisted of 8,700 units, 50% complete with respect to conversion costs. A total of 32,000 units were completed and transferred out of the department during the month. The number of units started during November in the department was:
Universal Manufacturing uses a weighted-average process-costing system. All materials are introduced at the start of manufacturing, and conversion costs are incurred evenly throughout the process. The company's beginning and ending work-in-process inventories totaled 11,200 units and 20,700 units, respectively, with the latter units being 2/3 complete at the end of the period. Universal started 36,300 units into production and completed 26,800 units. Manufacturing costs follow. Beginning work in process: Materials, $60,700; conversion cost, $233.000 Current costs: Materials, $212,000; conversion cost, $483,000 Universal's equivalent-unit cost for conversion cost is:
Antoinette Nunally Company uses the weighted average method of process costing. It had 30,000 units in beginning inventory, which were 80% complete as to materials and 65% complete as to conversion. During the month, it started 90,000 units. At the end of the month, 20,000 units were in inventory, which were 60% complete as to materials and 25% complete as to conversion. Cost information is as follows: Beginning work in process inventory: Direct materials costs Conversion costs Total beginning inventory cost Costs added during the month: Direct materials costs Conversion costs Total costs added during the month Total production costs Beginning Inventory Units Started Ending Inventory Equivalent Units of Production Equivalent units completed and transferred out Equivalent units for ending work in process Total equivalent units of production Cost per Equivalent Unit of Production $75.600 90,675 Costs of beginning work in process inventory Costs added during month Total costs 282,800…
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,600 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $9,400. During the period, 8,600 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.60 for material and $5.60 for conversion costs. The cost of units transferred out during the month was: Multiple Choice A. $48,160 B. $64,400 C. $87,720 D. $82,000
The Bottling Department of Mountain Springs Water Company had 5,000 liters in beginning work in process inventory (20% complete). During the period, 58,000 liters were completed. The ending work in process inventory was 3,000 liters (90% complete). What are the equivalent units for conversion costs under the FIFO method? equivalent units for conversion costs
Silva Coporation uses the weighted average process costing method. The Mixing Department at Silva had 17,000 units in beginning inventory. These units contained $70,000 in direct materials, $80,000 in direct labor, and $60,000 in overhead. During the period, the department incurred costs of $320,000 in direct materials, $400,000 in direct labor and $200,000 in overhead and started 80,000 units. Ending inventory consisted of 6,000 units which were 100% complete with respect to direct materials and 50% complete with respect to direct labor and overhead. What is the cost per equivalent unit for direct labor (rounded to the nearest cent)? O $5.28 O $5.11 O $4.94 $0.86
Bims Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 5,400 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. An additional 69,500 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 35,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month? Multiple Choice 99,100 60,900 57,120 39,900
The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $1.65 and $0.55, respectively. The equivalent units to be assigned costs are as follows: The beginning work in process inventory had a cost of $1,340. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.
Amazon Industries utilizes a process costing system with just one processing department. The beginning work in process Inventory in Department A consisted of 11,500 units, 100% complete with respect to materials cost and 40 % complete with respect to conversion costs. The total cost in the beginning work in process Inventory for Department A was $22,600. A total of 40,000 units were transferred out of Department A during the month. The costs per equivalent unit were computed to be $1.30 for materials and $3.10 for conversion costs. What is the total cost of the units completed and transferred out of Amazon's Department A this period?
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