Production data show 35,840 units were transferred out of a stage of production and 6,200 units remained in ending WIP inventory that was 100% complete to material a complete to conversion. The unit material cost is $5 for material and $7 for conversion. What is the amount of inventory transferred out and remaining in ending work in inventory? Transferred out Ending inventory $ %24

Production data show 35,840 units were transferred out of a stage of production and 6,200 units remained in ending WIP inventory that was 100% complete to material a complete to conversion. The unit material cost is $5 for material and $7 for conversion. What is the amount of inventory transferred out and remaining in ending work in inventory? Transferred out Ending inventory $ %24

Name: %241/1ngageNOWv2 | Online teachir Xcom/ilrn/takeAssignment/takeAssign
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: %241/1ngageNOWv2 | Online teachir Xcom/ilrn/takeAssignment/takeAssignmentMar.ao?invoker=&takeAssignmentSessionLocator=&inprogress=false巴eBookProduction data show 35,840 units were transferred out of a stage of production and 6,200 units remained in

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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…
A process manufacturer that uses the weighted-average method reports the following. Beginning work in process inventory Units completed and transferred out Ending work in process inventory Equivalent units of production for conversion are: Multiple Choice O 125,200. Units 38,000 108,000 43,000 Conversion Percent Complete 80% 40%
How to find: * Cost of beginning work in process inventory completed this period. *Cost of units transferred to finished goods during the period. * Cost of ending work in process inventory. * Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 18,540 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $2.1 296,100 Direct labor 192,900 Factory overhead 75,000 Bal. ? units, 70% completed ?
A company uses the weighted average method for inventory at the end of the period 20,000 units were in the end he work in process inventory in or 100% complete for materials and 85% complete for conversion the quality cost per unit or materials $2.75 in conversion $2.26 computer cost would be assigned to the end he work in process inventory for the.
• beginning inventory of 2,245 units is 100% complete with regard to materials and 86% complete with regard to conversion • 12,873 units were started during the period 6,402 units were completed and transferred ending inventory is 100% complete with materials and 59% complete with conversion Determine the equivalent units of ending work in process for conversion under the weighted-average method. Round to the whole unit, no decimals.
Carmelita, Inc., has the following information available: Costs from Beginning Inventory Direct materials. Conversion costs $5,000 5,200 Costs from Current Period The cost of completing a unit during the current period was Oa. $45.95 Ob. $36.76 Oc. $30.63 Od. $25.62 $29,600 149,800 At the beginning of the period, there were 400 units in process that were 40% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,500 units were started and completed. Ending inventory contained 400 units that were 27% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process costing method.
1.How many units were started into production in a period if there were zero units of beginning work in process inventory, 1,100 units in ending work in process inventory, and 21,200 completed and transferred out units? Number of units started into production fill in the blank 1 units 2. How many units must be in ending inventory if beginning inventory was 13,000 units, 53,000 units were started, and 59,000 units were completed and transferred out? Units in ending inventory fill in the blank 1 3.Production data show 35,880 units were transferred out of a stage of production and 6,100 units remained in ending WIP inventory that was 100% complete to material and 35% complete to conversion. The unit material cost is $6 for material and $9 for conversion. What is the amount of inventory transferred out and remaining in ending work in process inventory? Transferred out $fill in the blank 1 Ending inventory $fill in the blank 2 4.Overhead is assigned to the manufacturing…
BASE DATA: UNITS: Beginning WIP Inventory (20% complete as to CC) 5,000 Units started 20,000 Units completed and transferred out 15,000 Ending WIP Inventory (Mat 100 %, CC 50 % complete) 10,000 Costs: Beginning inventory: Materials $ 4,000 CC $ 1,000 Current period: Materials $ 16,000 CC $ 4,000 All materials are added at the beginning of the process WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT: What is your Product's Equivalent units (EUP) for Mat & CC using Weighted Average? Materials EUP CC EUP Record your answers here What is your…
Campbell Corporation Beginning inventory (30% complete as to Material B and 60% complete for conversion) 700 units Started this cycle 2,000 units Ending inventory (50% complete as to Material B and 80% complete for conversion) 500 units Beginning inventory costs: Material A $14,270 Material B 5,950 Conversion 5,640 Current Period costs: Material A $40,000 Material B 70,000 Conversion 98,100 Material A is added at the start of production, while Material B is added uniformly throughout the process. Refer to Campbell Corporation. Assuming a weighted average method of process costing, compute the average cost per unit for Material A.
Total physical units are 39500. Total conversion costs are $97250. There are 1200 units in ending inventory which are 50% complete as to conversion costs. What is the unit conversion cost? $4.93. $2.50. $2.39. $2.46.
A paint producer reports the following information: Units Conversion Percent Complete Beginning work in process inventory 404,000 30% Units started this period 788,000 Units completed and transferred out 848,000 Ending work in process inventory 344,000 65% A company uses the weighted-average method. What are total equivalent units of production for conversion costs?
EA15. LO 5.4 Production data show 35,920 units were transferred out of a stage of production and 6,150 units remained in ending WIP inventory that was 100% complete to material and 35% complete to conversion. The unit material cost is $5 for material and $8 for conversion. What is the amount of inventory transferred out and remaining in ending work in process inventory?