Q6 (a): A manufacturer has two departments; knitting and finishing. This question focuses onfinishing department Direct materials are added at the end of the process. Given the followinginformation for June 2009:WIP beginning inventory (Juno 1)• Transferred in during Juno:75 physical units (Conversion costs 60x)135 physical units• WIP Ending inventory (June 30)60 physical units (Conversion costs 75%)Using FIFO mothod, the equivalent units for convorsion costs aroQ6 (b): The following costs are reported:• Total costs of transferred-in costs of WIP beginning: $ 60,000• Total cost added during June for direct matorial: $37,500• Total cost added during June for transferred in costs: $130,800Using FIFO, the direct material cost per qquivalent unit of work done to date will bo

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Description: Q6 (a): A manufacturer has two departments; knitting and finishing. This question focuses onfinishing department Direct materials are added at the end of the process. Given the followinginformation for June 2009:WIP beginning inventory (Juno 1)• Tra

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

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Q6 (a): A manufacturer has two departments; knitting and finishing. This question focuses on finishing department Direct materials are added at the end of the process. Given the following information for June 2009: WIP beginning inventory (June 1): • Transferred in during Juno: 75 physical units (Conversion costs 60%) 135 physical units WIP Ending inventory (Juno 30) 60 physical units (Conversion costs 75%) Using FIFO mothod, the equivalent units for conversion costs are Q6 (b): The following costs are reported: • Total costs of transferred-in costs of WIP beginning: $ 60,000 • Total cost added during June for direct material: $ 37.500 • Total cost added during June for transferred in costs: $130,800 Using FIFO, the direct material cost per qquivalent unit of work done to date will be

Q6 (a): A manufacturer has two departments; knitting and finishing. This question focuses on finishing department Direct materials are added at the end of the process. Given the following information for June 2009: WIP beginning inventory (June 1): • Transferred in during Juno: 75 physical units (Conversion costs 60%) 135 physical units WIP Ending inventory (Juno 30) 60 physical units (Conversion costs 75%) Using FIFO mothod, the equivalent units for conversion costs are Q6 (b): The following costs are reported: • Total costs of transferred-in costs of WIP beginning: $ 60,000 • Total cost added during June for direct material: $ 37.500 • Total cost added during June for transferred in costs: $130,800 Using FIFO, the direct material cost per qquivalent unit of work done to date will be

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3PA: Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired...

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Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this years production: Â Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $57,540 and the total conversion cost is $36,036. Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? What is the value of the inventory transferred out and the value of the ending WIP inventory?
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