P9-2 The following data were gathered from the books of Jersey Company duhng Units: In process, beginning (30% completed) Finished and transferred Finished and on, hand In Process, end (1/3 completed) 20,000 50,000 10,000 30,000 Costs: P30,000 In process, beginning Cost added this month: Materials 70,000 40,000 Labor Overhead 18,000 Required: Cost of production report

P9-2 The following data were gathered from the books of Jersey Company duhng Units: In process, beginning (30% completed) Finished and transferred Finished and on, hand In Process, end (1/3 completed) 20,000 50,000 10,000 30,000 Costs: P30,000 In process, beginning Cost added this month: Materials 70,000 40,000 Labor Overhead 18,000 Required: Cost of production report

Name: P9-2 The following data were gathered from the books of Jersey Compan
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Description: P9-2 The following data were gathered from the books of Jersey Company during April 2015:Units:In process, beginning (30% completed)Finished and transferredFinished and on handIn Process, end (1/3 completed)20,00050,00010,00030,000Costs: .In process

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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The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department 21,200 To Finished Goods, 115,000 units 153,400 370,300 144,050 Bal., 5,000 units, 70% completed Direct materials, 118,000 units @ $1.3 Direct labor Factory overhead Bal., ? units, 35% completed Cost per equivalent units of $1.30 for Direct Materials and $4.50 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? 0000 c. Assuming that the direct materials cost per unit did…
“make a cost of production report for jersey company“
The following information is available for Department Z for the month of July: Work in process, July 1 (70% complete) Direct materials Direct labor Units 2,000 Cost $ 6,000 3,000 Manufacturing overhead 4,000 Total work in process, July 1 $13,000 Started in July 20,000 Costs added: Direct materials Direct labor Manufacturing overhead Total costs added during July Work in process, July 31 (7.5% complete) $18,000 8,000 10,000 $36,000 2,000 Materials are added at the beginning of the process. Department Z's cost of goods transferred out using the FIFO method would be: O a. $44,500. O b. $40,250. Oc. $45,540. Od. $47,056
The debits to Work-In process for Dep# 2 for the month of March of the current year, together with the information concerning production, are presented below. All direct materials came from Dep# 1. The units completed include 1,200 in process during the beginning of the period. Dep# 2 uses WA costing
Department G had 2,280 units 25% completed at the beginning of the period, 12,600 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $32,500 Costs added during period: Direct materials (12,220 units at $8) 97,760 Direct labor 73,800 Factory overhead 24,600 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of the departmental work in process inventory at the end of the period (round unit cost calculations to four decimal places and round your final answer to the nearest dollar)? a.$17,460 b.$23,677 c.$18,213 d.$15,200
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of productio Work in Process-Assembly Department 19,500 To Finished Goods, 115,000 units 247,800 214,300 83,270 Bal., 5,000 units, 75% completed Direct materials, 118,000 units @ $2.1 Direct labor Factory overhead Bal., ? units, 40% completed Cost per equivalent units of $2.10 for Direct Materials and $2.60 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? 0000 ? c. Assuming that the direct materials cost per unit did not…
Department G had 1,920 units 25% completed at the beginning of the period, 13,600 units were completed during the period, 1,600 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period Costs added during period: Direct materials (13,280 units at $9) Direct labor Factory overhead $27,200 119,520 76,200 25,400 All direct materials are placed in process at the beginning of production, and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (do not round unit cost calculation)? a. $175,756 b. $211,074 c. $105,120 d. $193,415
es Exercise 8-39 (Algo) Compute Costs per Equivalent Unit: FIFO Method (LO 8-2,5) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 59,000 38,000 $ 97,000 $ 150,000 400,000 $ 550,000 Materials are added at the beginning of the process. The following quantities have been recorded: ⚫ Beginning inventory, 43,000 partially complete gallons, 55 percent complete with respect to conversion costs. ⚫ Units started in July, 83,000 gallons. • Units transferred out in July. 93,000 gallons. • Ending inventory, 33,000 gallons, 70 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and for conversion costs for July using the FIFO method. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit Direct Materials $ 1.19 Conversion Costs $ 4.44
Department G had 2,280 units 25% completed at the beginning of the period, 12,700 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $33,800 Costs added during period: Direct materials (12,320 units at $8) 98,560 Direct labor 81,600 Factory overhead 27,200 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 2,280 units of beginning inventory which were completed during the period is (do not round unit cost calculations) $33,800 $50,572 $45,698 $48,672
Use this information about Department G to answer the question that follows. Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period, 3,000 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period $40,000 Costs added during period: Direct materials (10,400 units at $8) 83,200 Direct labor 63,000 Factory overhead 25,000 All direct materials are added at the beginning of the process, and the first-in, first-out cost flow method is used. Determine the total cost of the inventory in process at the end of the period. Round the unit cost computation to the nearest cent. a. $21,432 b. $16,163 c. $28,932 d. $35,670
Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Equivalent Units of Production Direct Materials Conversion Units Completed and transferred out 50,000 50,000 Units in Ending Work in Process: Direct Materials (15,000 * 100%) 15,000 Conversion (15,000 * 80%) 12,000 Equivalent Units of Production 65,000 62,000 Cost per Equivalent Unit Costs of beginning work in process $40,500 $59,700 Costs incurred this period 136,000 183,100 Total costs $176,500 $242,800 Cost per equivalent unit $2.71 per EUP $3.92 per EUP The total conversion costs transferred out of the Canning Department should be: $243,040. $242,800. $176,150. $196,000. $183,100. Please dont give solutions in an image format thank you