Pearl Company has the following production information forOctober: 60,000 units transferred out and 20,000 units in endingwork in process that are 100 percent complete for materials and 60percent complete for conversion costs. Materials cost is $12 perequivalent unit and conversion cost is $16 per equivalent unit.Determine the cost assigned to the units transferred out and theunits in ending work in process using the weighted-average method.

Costing Units with Weighted Average MethodWe can use the weighted-average method to assign costs to…

Answered: Pearl Company has the following…

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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Parks Company uses the weighted-average method in its process costing system. At the start of the year, the company had 5,000 units in process in Department A that were 60% complete with respect to conversion costs. At the end of the year, 6,500 units were in process, 40% complete with respect to conversion costs. During the year, 30,000 units were completed and transferred on to the next department. The equivalent units for conversion costs would be: Select one: O a. 32,600 units O b. 29,600 units O c. 33,000 units O d. 30,000 units
Clonex Labs, Incorporated, uses the weighted - average method of process costing. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 51, 000 95% 65% Work in process, October 31 38,000 66% 47% The department started 397,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October.
Kramer Corporation began the period with 5,200 units in process that were 100% complete for materials and 60% complete for conversion, and ended the period with 26,000 units completed and 6,500 units still in process. Work in process was 100% complete for materials and 70% complete for conversion costs. Using the weighted-average method, compute the equivalent units of production for materials and conversion for the period. Equivalent Units Direct Materials Conversion Costs
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…
The Converting Department of Toren Company had 560 units in work in process at the beginning of the period, which were 75% complete. During the period, 11,600 units were completed and transferred to the Packing Department. There were 640 units in process at the end of the period, which were 30% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Toren Company Number of Equivalent Units of Production Line Item Description Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Feedback Whole Units 560 11,040 11,600 ✓ 640 ✓ 12,240 ✓ Direct Materials Conversion Equivalent Units Equivalent Units 0✔ 140 ✓ 11,040 ✔ 11,180 ✔ 11,040 11,040 ✔ 640 ✔ 11,680 ✔ Check My Work When are the materials added to the units? How much more needs to be done to the…
Assembly department of Zahra Technologies had 200 units as work in process at the beginning of the month. These units were 50% complete. It has 300 units which are 30% complete at the end of the month. During the month, it completed and transferred 600 units. Direct materials are added at the beginning of production. Conversion costs are allocated evenly throughout production. Zahra uses weighted-average process-costing method. What is the number of equivalent units of work done during the month with regards to direct materials? A) 700 units B) 1,100 units C) 900 units D) 600 units
In the month of March, a department had 7500 units in beginning Work in Process Inventory that were 80% complete. During March, 30300 units were transferred into production from another department. At the end of March there were 2500 units in ending Work in Process Inventory that were 80% complete. Direct materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. The weighted-average method is used. How much are equivalent units of production for direct materials for March? O 37300 equivalent units of production O 28300 equivalent units of production 37800 equivalent units of production 40300 equivalent units of production

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