P9-5 The following information were gathered from the books of Broadway Company for themonth of June 2015:Department A Dėpartment BUnits:In process, beginningStage of completionFinished and transferredFinished and ón hand30,00020,00020%1/470,00020,00050,00010,000In process, end.Stage of completion?10,00050%40%Costs:In process, beginningCost this month:MaterialsP45,000P24,000120,00030,00028,000Required: Cost of production reports for two departments.130,00029,00030,000LaborOverhead

Cost of Production Report Cost of production report which calculate the details of inventory which…

P9-5 The following information were gathered from the books of Broadway Company for the month of June 2015: Department A Dėpartment B Units: In process, beginning Stage of completion Finished and transferred 30,000 20,000 20% 1/4 70,000 20,000 50,000 10,000 Finished and ón hand In process, end. Stage of completion 10,000 50% ? 40% Costs:

P9-5 The following information were gathered from the books of Broadway Company for the month of June 2015: Department A Dėpartment B Units: In process, beginning Stage of completion Finished and transferred 30,000 20,000 20% 1/4 70,000 20,000 50,000 10,000 Finished and ón hand In process, end. Stage of completion 10,000 50% ? 40% Costs:

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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Q2: Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available: Work in process, August 1 (60% complete with respect to conversion).... Started in August. Completed Work in process, August 31 (30% complete with respect to conversion). 72,000 480,000 480,000 72,000 Required 1. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. Solution
Materials are added at the start of the process in ABC preparing department, the first stage of the production cycle. The following information is available in August: Work in process, December 31 (50% complete as to conversion cost) - 175,000 Transferred to next department - 275,000 Started in December - 375,000 Work in process, December 1 (60% complete as to conversion cost) -150,000 Lost in production (continuous normal) - 75,000 What is the EUP for conversion costs using FIFO method?362,500347,500437,500272,500 What is the EUP for conversion cost using the weighted-average method?272,500362,500437,500367,500
Q. 2: For the month of January 2022, the production control department of XYZ Inc., reported the following production data for Department 2: Transferred in from Department 1.. Transferred out to Department 3 In process at the end of January (with 1/3 material, ½ labor and FOH)... 60,000 units .52,000 units .6,000 units Page 1 of 2 The Cost Department collected these figures for Department 2: Unit cost for units transferred in from Department 1.. Material cost in Department 2. Labor cost in Department 2.. Factory Overhead.. 19.20 492,100 465,310 470,590 Required: Cost of Production Report of Department 2 for January 2022.
make a cost of production report using process costing fifo method
E5-6. Computing Unit Cost LO5 The records of Burris Inc. reflect the following data: Work in process, beginning of month-2,000 units one-half completed at a cost of $1,250 for materials, $675 for labor, and $950 for overhead. Production costs for the month-materials, $99,150; labor, $54,925; factory overhead, $75,050. Units completed and transferred to stock-38,500. Work in process, end of month-3,000 units, one-half completed. Compute the month's unit cost for each element of manufacturing cost and the total per unit cost.
1 What was the equivalent units for materials costs 2 What was the equivalent units for conversion cost 3 The cost of a finished unit is 4 The cost of the goods completed is Summer Company makes a single chemical product in 2 departments. The addition of chemicals in the second department increases the weight of the product by 10% because of additional chemicals added when production reaches 50% of completion stage. The following are the information of Dept B for May 2021: Units: In Process Beg 70% done 10,000 Received from Dept A Completed and Transferred In Process End 60% Costs: In Process, Beg Preceding Dept Cost Materials Conversion 30,000 28,000 ??? P20,150 P97.350 P80,850 P81,000
“make a cost of production report for jersey company“
m2. Subject :- Accounting
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
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For March 2024, The Jacksonville shirt company compiled the following data for the Cutting and sewing department Department Item Amount units Cutting Beginning Balance $0 0 Shirts Started in march 1200 shirts Direct Materials added in March 1,920 Conversion costs 1,320 Completed and transferred to sewing ??? 1,200 Shirts Ending Balance 0 0 shirts Sewing Beginning Balance, transferred in, $1,350; conversion costs, $650 $2000 500 shirts Transferred in from cutting ??? ??? Conversion costs added in March 1,196 Completed and transferred to finished goods ??? 1,000 shirts Ending Balance, 60% complete ??? ??? 1. Complete a production cost report for the Cutting Department and the Sewing department. What is the cost of one basic shirt?
ro-1 Sprint Corporation started operations on October 1, 2014. It has three processing departments: X, Y, and Z. The following information was available during the first month of production: October 2014 Department Department Department Quantity Started in process Finished and transferred to next department Work in process, end Stage of completion 3,000 2,800 4,000 2,000 800 2,800 3,000 1,000 20% 200 50% 25% Cost incurred Materials Labor Overhead P 64,000 38,400 51,200 153,600 P34,800 29,000 23,200 P87,000 P22,000 13,200 8,800 P44,000