Calculate conversion cost given the following information: Account Balance (Alphabetical Order) ($) Direct Labor Cost 400 Direct Material Cost Finished Goods Inventory-Beginning Balance Finished goods Inventory-Ending Balance Manufacturing Overhead Cost Work in Process- Beginning Balance Work in Process-Ending Balance 500 200 180 300 150 100 Select one: O a. $800. Ob. $1,000. OC. $700. O d. $1,700. O e. $900.

Calculate conversion cost given the following information: Account Balance (Alphabetical Order) ($) Direct Labor Cost 400 Direct Material Cost Finished Goods Inventory-Beginning Balance Finished goods Inventory-Ending Balance Manufacturing Overhead Cost Work in Process- Beginning Balance Work in Process-Ending Balance 500 200 180 300 150 100 Select one: O a. $800. Ob. $1,000. OC. $700. O d. $1,700. O e. $900.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory b. Did the production costs change from the preceding period? Explain. c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?
Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory.
Which is nor needed to compute equivalent units of production? A. the percentage of completion for inventory still in process B. the number of units transferred out C. the number of units started and completed D. the material cost per unit
Describe the Source 01 the data for increasing Work in Process for (a) direct materials, (b) direct labor, and (c) factory overhead
Subject: Accounting
Use the included information about Raw Materials Inventory (RM), Work in Process Inventory (WIP), Finished Goods Inventory (FG), and the Income Summary (IS). Determine the total conversion costs added. 1 2 3 4 5 6 7 1 00 RM B Bal T1 T2 T3 T4 E Bal 8 9 FG 10 B Bal 11 T1 12 T2 13 T3 14 T4 15 E Bal 2 Debits 4300 29 050 Debits 4800 45 592 3 Credits 28 000 Credits 33 500 4 5 WIP B Bal DM DL FOH CGM E Bal IS Rev CGS V Op Exp F Op Exp NIBT 6 Debits 8920 28 000 17 430 11 130 Debits 33 500 5130 7960 7 Credits 45 592 Credits 66 200
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You have the following data: Cost of goods sold Direct labour Direct materials Cost of goods manufactured Work-in-process ending Finished goods ending Manufacturing overhead Which of the following represents the beginning work-in-process inventory? O $25. $15. O $20. $55. $70 $20 $15 $80 $10 $15 $30
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