Required InformationUse the following information for the Exercises below. (Algo)[The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April.DirectMaterialsBeginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryUnits started and completedUnits69,000367,000345,00091,000Equivalent units of productionPercentComplete80%80%Exercise 16-10A (Algo) FIFO: Computing equivalent units of production LO C2Units(a) Compute the number of units started and completed this period for the first production department.Equivalent units of production: FIFO methodDirect MaterialsPercentAddedConversionTOPercent Complete(b) Compute the number of equivalent units of production for both direct materials and conversion for the first production deparfor April using the FIFO method.20%30%EUPConversionPercentAddedEUPA:

Equivalent units of production (EUP), which is stated in terms of fully finished units, is used in…

Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory. Units started and completed Units 69,000 367,000 345,000 91,000 Equivalent units of production Direct Materials Units Percent Complete 80% 80% Exercise 16-10A (Algo) FIFO: Computing equivalent units of production LO C2 Percent Added (a) Compute the number of units started and completed this period for the first production department. Equivalent units of production: FIFO method Direct Materials LAUE Conversion b) Compute the number of equivalent units of production for both direct materials and conversion for the first production de or April using the FIFO method. Percent Complete 20% EUP 30% Conversion Percent Added EUP W

Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory. Units started and completed Units 69,000 367,000 345,000 91,000 Equivalent units of production Direct Materials Units Percent Complete 80% 80% Exercise 16-10A (Algo) FIFO: Computing equivalent units of production LO C2 Percent Added (a) Compute the number of units started and completed this period for the first production department. Equivalent units of production: FIFO method Direct Materials LAUE Conversion b) Compute the number of equivalent units of production for both direct materials and conversion for the first production de or April using the FIFO method. Percent Complete 20% EUP 30% Conversion Percent Added EUP W

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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! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 79,000 Percent Complete 80% Percent Complete 20% Units started this period 417,000 Completed and transferred out 395,000 Ending work in process inventory 101,000 85% 35% Exercise 3-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1 The production department had the cost information below. Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 250,325 19,758 1,336,480 970,047 $ 270,083 Total costs to account for 2,306,527 $2,576,610 a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. b. Using the…
Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out. Ending work in process inventory Beginning work in process inventory Direct materials Units The production department had the cost information below. Conversion Costs added this period Direct materials Conversion Total costs to account for 60,000 322,000 300,000 82,000 $ 118,472 48,594 850,368 649,296 Direct Materials Conversion Percent Complete 60% 80% $ 167,066 1,499,664 $1,666,730 a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 40% 30%
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[The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 71,000 Percent Complete 65% Percent Complete 35% Units started this period 377,000 Completed and transferred out 355,000 Ending work in process inventory 93,000 90% 40% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Completed and transferred out Ending work in process Total Equivalent units of production: Weighted average method Direct Materials Conversion Units Percent Complete EUP Percent Complete EUP 355,000 93,000 448,000
Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 67,000 357,000 335,000 89,000 Completed and transferred out Ending work in process Total Direct Materials Percent Units 335,000 89,000 424.000 Complete Percent Complete 70% 30% 85% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Conversion Equivalent units of production: Weighted average method Direct Materials Percent Complete 85% 35% EUP Percent Complete Conversion EUP
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Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,900 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units 2,500 60% Percent Complete for Direct Materials Percent Complete for Conversion 40% 10,900 Units completed and transferred out Ending work in process inventory 9,500 3,900 80% 30% Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion $ 944 533 $ 1,477 11,676 15,472 27,148 QS 16-17A (Algo) FIFO: Journal entry to transfer costs LO P4 Prepare the November 30 journal entry to record the transfer of costs from the Assembly department to the…
Required information [The following information applies to the questions displayed below.] Select the best answer for each of the following independent multiple-choice questions. Required: a. Hillger Paints production cycle starts in Department A. The following information is available for April: Work in process, April 1 (30% complete) Started in April Work in process, April 30 (70% complete) Units 125,000 405,000 67,000 & Exi Materials are added at the beginning of the process in Department A. Using the weighted-average method, what are the equivalent units of production for the month of April?
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Exercise 8-22 (Algo) Compute Equivalent Units (LO 8-1, 3, 5) Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1 (56% complete with respect to conversion) Started in August Completed Work in process, August 31 (77% complete with respect to conversion) 17,400 121,600 121,600 17,400 Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. Equivalent Units Conversion Costs Materials a Using the weighted-average method 139,000 O 134,998 O Using the FIF0 method 139,000 X 125,254
Problem 8-51 (Algo) Part a Required: a. Adams Company's production cycle starts in Department A. The following information is available for July: Units Work in process, July 1 (50% complete) 79,000 Started in July 365,000 Work in process, July 31 (30% complete) 41,000 Materials are added at the beginning of the process in Department A. Using the weighted-average method, what are the equivalent units of production for materials and conversion costs for the month of July, respectively? Multiple Choice 444,000; 415,300 365,000; 377,300 403,000; 365,000 444,000; 403,000 None of the above