Percent CompleteUnits75,00055, 000MaterialsConversionWork in process inventory, May 1Work in process inventory, May 31Materials cost in work in process inventory, May 1Conversion cost in work in process inventory, May 1Units started into productionUnits transferred to the next production departmentMaterials cost added during MayConversion cost added during May100 %50 %100 %30 %$59,400$ 17,400252, 000272, 000$ 126, 990$ 250, 905,Required:1. Calculate the first production department's equivalent units of production for materials and conversion for May.2. Compute the first production department's cost per equivalent unit for materials and conversion for May.3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for4. Compute the first production department's cost of the units transferred to the next production department for materials, conand in total for May.Complete this question by entering your answers in the tabs below.Required 1Required 2Required 3Required 4Compute the first production department's cost of the units transferred to the next production department for materials,conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)MaterialsConversionTotalCost of units completed and transferred out

The equivalent units are calculated on the basis of percentage of the work completed during the…

Answered: ork in process inventory, May 1 fork in…

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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Current Attempt in Progress Concord Company decided to analyze certain costs for June of the current year. Units started into production equaled 27000 and ending work in process equale 3500 units. With no beginning work in process inventory, how much is the conversion cost per unit if ending work in process was 20 % complete and total conversion costs equaled $135520? O $4.44. O $2.80. $5.60. e $5.02.
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Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Method Godfrey Manufacturing, Inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Process—Blending Department account for January is missing a few items: Work in Process-Blending Department January 1 inventory (5,000 gallons, 60% processed) Direct material Conversion costs Transferred to Bottling Department (60,000 gallons) January charges: Direct material (61,000 gallons) Direct labor $18,000 8,850 228,750 110,400 73,200 Manufacturing overhead January 31 inventory [? gallons, 70% processed] Required Assuming Godfrey uses the weighted average method in process costing, calculate the following…
Current Attempt in Progress Waterway Company developed the following data for the current year: Beginning Work in Process Inventory Direct materials used Actual overhead Overhead applied Cost of goods manufactured Total manufacturing costs $290000 $516000. $226000. $806000. $504000. 146000 298000 226000 278000 794000 Waterway Company's ending Work in Process Inventory is
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takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse Calculator A company started the month with 8,333 units in work in process inventory. It started 23,146 units and had an ending inventory of 9,322. The units were 100% complete to materials and 67% complete with conversion. How many units were transferred out during the period? Units transferred out Previous Next Email Instructor Submit Test for Grading All work saved. 5:18 PM 10/2/2020 arch O
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Units in beginning WIP Inventory completed this period Units Started and completed this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period Costs in beginning WIP Inventory (from last period) Costs added to WIP Inventory this period Total costs to account for Total cost of units completed $ Step 3: Account for costs Total number of units completed Physical Units What is The Skysong Company's total cost units completed? Actual unit cost for units completed $ 1,500 15,100 How many total units did the company complete this period? Total cost per equivalent unit this period $ The actual cost for the units completed this period is 500 17,100 Total Costs The Skysong Company uses the FIFO method of process costing. $1,155 26,895 $28,050 % Added This Period DM 100% 100% $755 0% 8.580 $9,335 DM Equivalent Units Equiv. Units 15,100 500 15,600 Conversion Costs $400 What was the actual per-unit cost for those units completed? (Round answer…

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