Question 5 Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 % complete % complete units 61,000 DM conversion 40% 87,000 39,000 ? 24% The cost of beginning work in process and the costs added during April were as follows: DM work in process, April 1 $402,541 $200,175 $602,716 costs added during April total costs Conversion Using the weighted average method, the handling department reported the following amounts: 1) conversion units cost = $4.75 2) cost of goods completed & transferred out = $979,910 Using the FIFO method, the handling department reported the following amounts: 1) cost to complete the units in beginning work in process = $184,281 2) cost of ending work in process = $120,939 Calculate the equivalent units with respect to direct materials using the weighted average process costing method. 2 pts

Question 5 Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 % complete % complete units 61,000 DM conversion 40% 87,000 39,000 ? 24% The cost of beginning work in process and the costs added during April were as follows: DM work in process, April 1 $402,541 $200,175 $602,716 costs added during April total costs Conversion Using the weighted average method, the handling department reported the following amounts: 1) conversion units cost = $4.75 2) cost of goods completed & transferred out = $979,910 Using the FIFO method, the handling department reported the following amounts: 1) cost to complete the units in beginning work in process = $184,281 2) cost of ending work in process = $120,939 Calculate the equivalent units with respect to direct materials using the weighted average process costing method. 2 pts

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 20E: Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through...

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The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory (60% complete) on October 1. During October, 3,900 tons were completed. The ending work in process inventory on October 31 was 300 tons (25% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process?
Work in process account data for two months; cost of production reports Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in ProcessFilling on April 1 and debits to the account during April were as follows: During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed. Charges to Work in ProcessFilling for May were as follows: During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the department, all were completed except 300 units that were 35% completed. Instructions 1. Enter the balance as of April 1, in a four-column account for Work in ProcessFilling. Record the debits and the credits in the account for April. Construct a cost of production report, and present computations for determining (A) equivalent units of production for materials and conversion, B) costs per equivalent unit, (C) cost of goods finished, differentiating between units started in the prior period and units started and finished in April, and (d) work in process inventory. 2. Provide the same information for May by recording the May transactions in the four-column work in process account. Construct a cost of production report, and present the May computations (A through D) listed in part (1). 3. Comment on the change in costs per equivalent unit for March through May for direct materials and conversion costs.
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Kokomo Kayak Inc. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during the month of March: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 18,000 units finished and transferred to stockroom. Work in process, end of period, 3,000 units, two-thirds completed. Required: Prepare a cost of production summary for March.
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