Question Content Area Equivalent Units of Production The Converting Department of Hopkinsville Company had 920 units in work in process at the beginning of the period, which were 30% complete. During the perion 19,200 units were completed and transferred to the Packing Department. There were 1,040 units in process at the end of the period, which were 40% complete. D 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 "o". Hopkinsville Company Number of Equivalent Units of Production Whole Units Direct Materials Equivalent Units Conversion Equivalent Units Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total

Question Content Area Equivalent Units of Production The Converting Department of Hopkinsville Company had 920 units in work in process at the beginning of the period, which were 30% complete. During the perion 19,200 units were completed and transferred to the Packing Department. There were 1,040 units in process at the end of the period, which were 40% complete. D 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 "o". Hopkinsville Company Number of Equivalent Units of Production Whole Units Direct Materials Equivalent Units Conversion Equivalent Units Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total

Name: Question Content AreaEquivalent Units of ProductionThe Converting Dep
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Question Content AreaEquivalent Units of ProductionThe Converting Department of Hopkinsville Company had 920 units in work in process at the beginning of the period, which were 30% complete. During the period,19,200 units were completed and transfer

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

Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 4,100 ounces in beginning work in process inventory (80% complete). During the period, 51,800 ounces were completed. The ending work in process inventory was 3,600 ounces (40% complete). What are the total equivalent units for conversion costs? Feedback X units Check My Work Are you determining the equivalent units of materials added or of conversion of materials? When would materials typically be added in the process? When would conversion of these materials take place? Recall the definition of work in process.
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Blackrock Steel Company are $45 and $12, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, beginning of period Started and completed during the period Transferred out of Rolling (completed) Inventory in process, end of period Total units to be assigned costs Equivalent Units Direct Materials Conversion 0 11,900 11,900 2,000 13,900 LA 640 LA 11,900 12,540 600 The beginning work in process inventory had a cost of $38,020. Determine the cost of completed and transferred-out production and the ending work in process inventory. Completed and transferred out of production Inventory in process, ending 13,140
Problem 1 Delta Corporation uses a process cost system and the FIFO cost flow assumption. Production begins in the Assembly Department where materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On December 1, the beginning work in process inventory consisted of 20,000 units, which were 25% complete (conversion costs) and had a cost of $80,000. During March, the following occurred: Materials added Conversion costs incurred Units started during March Units in ending work in process March 31 (30% complete) Required: Prepare a Production Cost Report for the month ended December 31, 2017. $260,000 $75,000 65,000 19,000
Compute for Equivalent Units of Production by preparing a Quantity Schedule
Process Cost - Equivalent Units The following relates to units in WIP for the Test department: Beginning units of 400 were 60% complete as to conversion effort. During the period 4,400 units of production were Transferred-Out to the Packing department. There were 500 units in process at the end of the period that were 45% complete as to conversion effort. Direct Materials are placed into process at the beginning of production. Determine the number of Equivalent Units of Production with respect to Direct Materials and Conversion Costs completing the table below. (Round all answers to the nearest unit if necessary) (Fill in all answer boxes. Use 0 if you believe there should not be a number in a box.) Direct Mat. Conv. Cost Whole Equivalent Equivalent Units Units Units Beginning WIP Units 60% complete Started & Completed during the period Transferred Out to Packing Dept. Ending WIP Units 45% complete Total Units
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October: All materials are added at the beginning of the process. Beginning work in process had 80,500 units, 30 percent complete with respect to conversion costs. Ending work in process had 14,000 units, 40 percent complete with respect to conversion costs. Started in process, 91,000 units. Required: 1. Prepare a physical flow schedule. Middelton Company Physical Flow Schedule Units to account for: Total units to account for Units accounted for: Units completed and transferred out: Total units accounted for 2. Compute equivalent units using the weighted average method. Weighted average method: Equivalent Units Direct Materials Conversion Costs 3.…
Data Section: Work in process, beginning Units started during the month Work in process, ending Costs to account for. Beginning work in process Materials added Conversion costs incurred Total costs to be accounted for Beg. Work in process Started & Completed Ending Work in process Total Whole Units $ $ $ S Units 50,000 220,000 30,000 Total 100,000 176,000 597,600 873,600 Direct Mat. % Added During the Month Cost per equivalent unit Percent Conversion 30% 80% Direct Mat. Equiv. Units Direct Mat. Conversion% Added During the Month HINT: To find started and completed: Completed units - beginning inventory Started during the month - ending inventory Conversion Equiv. Units Conversion Beginning Inventory Cost assignment Direct Materials Conversion Total Amount reported on the balance sheet as Finished goods inventory Work in Process inventory
Equivalent Units; Assigning Costs; Cost Reconciliation—Weighted-Average Method Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,000 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to 5599,780 in total. The ending work in process inventory in January consisted of 3,000 units, which were 80% complete with respect to materials and 60% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month. 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January. 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and…
View Policies Current Attempt in Progress The Smelting Department of Kiner Company has the following production data for November. Production: Beginning work in process 2,800 units that are 100% complete as to materials and 24% complete as to conversion costs; units transferred out 9,100 units; and ending work in process 7,200 units that are 100% complete as to materials and 46% complete as to conversion costs. Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November. Materials Conversion Costs Total equivalent units Save for Later Attempts: 0 of 3 used Submit Answer O 4) to search
Compute the Equivalent units of production (EUP):Units received from preceding department 25,000 unitsUnits completed and transferred 14,000 unitsUnits in process, end (30% incomplete) 11,000 unitsCompute the equivalent production for conversion if 40% of materials are added at the beginning and the remaining 60% are added 75% completed
Question Content Area Department A had 4, 800 units in Work in Process that were 79% completed at the beginning of the period at a cost of $6, 100. During the period, 25,000 units of direct materials were added at a cost of $55,000, and 27,700 units were completed. At the end of the period, 2, 100 units were 36% completed. All materials are added at the beginning of the process. Direct labor was $25,200 and factory overhead was $4,200. The cost of the 2,100 units in process at the end of the period if the first - in, first-out method is used to cost inventories was a. $5,521 b. $6, 422 c. $5,071 d. $4,620
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October: All materials are added at the beginning of the process. Beginning work in process had 125,000 units, 40 percent complete with respect to conversion costs. Ending work in process had 25,000 units, 20 percent complete with respect to conversion costs. Started in process, 175,000 units. Required: Question Content Area 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. 4. Suppose that the cost of direct materials in beginning work in process is $560,000 and that the direct materials cost incurred for October is…