Required:1. Enter the balance as of April 1 in a four-column account for Work in Process-Filling. Record the debits and credits in the account for April. Construct a cost of productionreport and present computations for determining (a) equivalent units of production for materials and conversion; (b) cost 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. If an amount box does not require an entry,leave it blank.ACCOUNTWork in Process-Filling DepartmentDATEITEMApr. 1Bal., 600 units, 80% completed30Cooking Dept., 14,340 units at $7.3030Direct labor30Factory overhead30Finished goods30Bal., 1,400 units, 30% completedACCOUNT NO.BALANCEPOST. REF.DEBITCREDITDEBITCREDIT5,76014,68227,16214,626If an amount box does not require an entry, leave it blank. Round cost per unit answers to the nearest cent.

To understand the calculations and results presented in the cost of production report and the…

Answered: Required: 1. Enter the balance as of…

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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Concord Company had the following department data: Work in process inventory, July 1 Completed and transferred out Work in process inventory, July 31 Physical Units 185000 O 214000 243000 O 168000 29000 168000 46000 Materials are added at the beginning of the process. What are the equivalent units of production for materials in July?
I need help and an explanation to under the second part of the equation
2.(4) The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production.
1. Direct materials cost per equivalent unit. 2. Conversion cost per equivalent unit. 3. Cost of the beginning work in process completed during March. 4. Cost of units started and completed during March. 5. Cost of the ending work in process.
am. 111.
The debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,326 Conversion costs, 3,000 units, 40% completed 5,749 Materials added during April, 10,000 units 25,598 Conversion costs during April 34,639 Goods finished during April, 12,000 units 0 April 30 work in process, 1,000 units, 40% completed 0 All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is
The last department in a production process shows the following information at the end of the period: Units Beginning Work in Process 3,000 Started into Production 21,000 Ending Work in Process 6,000 How many units have been transferred out to finished goods during the period?
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $33,320 of direct materials. LOOK AT IMAGE TO help solve D. and E Cost per equivalent units of $9.50 for Direct Materials and $2.10 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November.$ 40222 b. Cost of units transferred to the next department during November.$ 368502 c. Cost of ending work in process inventory on November 30.$30753 d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in…
The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item August 1 Bal., 9,000 units, 2/5 completed 31 Direct materials, 162,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 164,100 units 31 Bal., ? units, 2/5 completed Debit Credit Line Item Description Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total 226,800 62,690 35,266 328,560 Balance Balance Debit Credit a. Determine the number of units in work in process inventory at August 31. units 15,120 241,920 304,610 339,876 11,316 11,316 b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August…
a. Determine the number of units transferred to the next department. b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials Cost per equivalent unit of direct materials c. Determine the cost of units started and completed in November.
Use this information about the Assembly Department to answer the question that follows. The debits to Work in Process-Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,500 Conversion costs, 3,000 units, 80% completed 6,000 Materials added during April, 10,000 units 29,000 Conversion costs during April 35,000 Goods finished during April, 11,500 units — April 30 work in process, 1,500 units, 60% completed — All direct materials are added at the beginning of the process, and the average cost method is used to cost inventories. The cost per equivalent unit for April is a.$2.70 b.$6.74 c.$6.25 d.$6.40
Equivalent Units of Production Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Work in process, June 1 Completed and transferred to next processing department during June Work in process, June 30 Inventory in process, June 1 Started and completed in June Transferred to Winding Department in June Inventory in process, June 30 Total Drawing Department 6,600 units, 50% completed 5,000 units, 50% completed 2,600 units, 10% Broduction begins in the Drawing Department and finishes h the Winding Department. 90,400 units a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Drawing Department Direct Materials and onversion Equivalent Units of Production For June Inventory in process, June 1 Started and completed in June Transferred to finished goods in June…

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