Question 1 of 1 \table[[Manufacturing Costs, Production Data], [Beginning workin process, $50, 193, Beginning work in process, 23, 400 units], [Costs addedduring month,,Units completed and transferred out,84, 240], [Direct materials,299, 520, Units started in production, 99, 840], [Direct labor, 54, 756, Ending workin process,39,000 units], [Manufacturing overhead, 106, 704,, ]] Beginning workin process and ending work in process were 10% and 20% complete withrespect to conversion costs, respectively. Prepare a production cost report forthe Welding Department for February 2022. (Round unit costs to 2 decimalplaces, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.) (3) Workin process, February 1 23400 SUPPORT Started into production 99840 larrCheck for Understanding Chapter 16 Question 1 of 1 i Completed and10-transferred out Work in process, February 1 Started and completed Total Workin process, February 28 tal units (B) Costs to be accounted for Completed and transferred outWork in process, February 1Started and completedTotalWork in process, February 28Total units.CostsUnit costsCosts in FebruaryEquivalent unitsUnit costs$Materials[$$ConversionCosts$Total

Production Cost Report for Welding Department - February 2022Units:Description UnitsBeginning Work…

Answered: Question 1 of 1 \table[[Manufacturing…

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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Question 2. A company's Department 2 costs for June were: Cost from Department 1 Cost added in Department 2: $20,000 Materials 43,415 Labor Factory overhead (FOH) 56,100 58,575 The quantity schedule shows 11,500 units were received during the month from Department 1; 7,000 units were transferred to finished goods; and 5,000 units in process at the end of June were 50% complete as to materials cost, 25% complete as to Labour cost, and 20% as MOH. Required: Prepare Cost of production report.
ces The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials. Work in process Finished goods Beginning $ 7,000 $ 10,000 $ 20,000 Required 1 Required 2 Required 3 Ending $ 15,000 $ 5,000 $ 35,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. Mason Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Prepare a schedule of cost of goods manufactured. Assume all raw materials used…
Ocess The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials placed in process at the beginning of production. Work In Process-Assembly Department Bal., 2,000 units, 25% completed 5,100 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.7 79,900 Direct labor 126,400 Factory overhead 49,165 Bal., 2 units, 65% completed Cost per equivalent units of $1.70 for Direct Materials and $3.70 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 24 1. Cost of beginning work in process inventory completed this period %24 2. Cost of units transferred to finished goods during the period %24 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.)
26
Question – 1 (Process Costing) The following information was taken from the books of Hunza Manufacturing Company for the month of January 2016: Cost of Units in process at beginning: January 1, 2016 - Rs. 50,000 Cost of Raw Material used - 148,000 Direct Labour cost incurred - 115,200 Factory Overhead Cost incurred - 86,400 The data extracted from the production report relating to above process are as follows: Units in process at beginning of January [40% complete as to material and 60% complete as to conversion cost] 5,000 units Units placed in production during January 13,000 units Units in process at end of January 31 [60% complete as to material and 80% as to conversion cost] 3,000 units. Calculae: Equivalent Production Unit, Unit Cost, The total cost of unit completed Work in process at end.
Question 1 Zulfiqar Inc. has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work in Process Finished Goods Cost of Goods Sold Total Direct materials 4,020 12,810 22,890 39,720 Direct labor 4,760 17,080 30,520 52,360 Manufacturing overhead applied 3,220 7,130 12,650 23,000 Total 12,000 37,020 66,060 115,080 Manufacturing overhead for the month was underapplied by Rs. 4,000. The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts. Calculate amount of work in process inventory at the end of September after allocation of any underapplied or overapplied manufacturing…
1. Using weighted average method, how much is the total cost of Work in Process Inventory, End?
estions | bartleby G How many units must be in... My Home CengageNOWv2| Online te.. eВook During March, the following costs were charged to the manufacturing department: $13,520 for materials; $14,700 for labor; and $14,100 for manufacturing overhead. The records show that 31,400 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,800 equivalent units of materíal and 32,360 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory? When required, round cost per unit to two decimal places and the final answers to the nearest dollar. Cost of inventory transferred $ %24 Balance in work in process
Question Content Area Laramie Technologies has the following data: Work in process inventory, beginning $45,000 Work in process inventory, ending 32,000 Direct labor costs 56,000 Cost of materials used 50,000 Factory overhead 28,000 Determine the cost of goods manufactured.$fill in the blank 1
Problem 3: Lederman Inc. has provided the following data for the month of April: Beginning $12,000 $27,000 Inventories Work in process... Finished goods.... Additional Information: Direct materials.. Direct labor costs.. Manufacturing overhead cost incurred...... Manufacturing overhead cost applied to WIP Required: a. Determine costs of goods manufactured for april b. Was the overhead underapplied or overapplied? By how much? $51,000 $91,000 Ending $16,000 $25,000 $60,000 $59,000
3

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