Sachelet inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in Process, beginning: 400 units Cost Materials 90% complete $756 Conversion 40% complete $4,448 Units Started into Production during the month 13,000 Units Completed and Transferred Out 13,300 Work in Process, Ending 100 units Materials 50% complete Conversion 30% complete Costs added to production during the month: Materials cost $29,949 Conversion cost $362,127 Total costs to account for $397,280 ======3=

Sachelet inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in Process, beginning: 400 units Cost Materials 90% complete $756 Conversion 40% complete $4,448 Units Started into Production during the month 13,000 Units Completed and Transferred Out 13,300 Work in Process, Ending 100 units Materials 50% complete Conversion 30% complete Costs added to production during the month: Materials cost $29,949 Conversion cost $362,127 Total costs to account for $397,280 ======3=

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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When units are produced over multiple periods (i.e. incomplete at the end of one period) production cost are assigned to individual units based on : -Equal units, -Equal costs -Equivalent cost -Equivalent units,
Explain the calculation of equivalent units of production.
7. How is direct material cost per equivalent unit calculated?
The equivalent units for the FIFO unit cost represent: a. work done during the current period. b. work done during the current period and the previous period. c. work done on units completed during the current period. d. work done during the previous period. e. the same thing as the equivalent units for the weighted average unit cost.
Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials. Conversion Total costs to account for Units 4,400 20, 600 25,000 3,800 $314, 760 1,374,948 Direct Materials Conversion Percent Percent Complete Complete 100% 30% 100% $ 124,790 1,689, 708 $ 1,814, 498 70%
The service life of an asset may be measured by all of the following, except a. Units of output b. Units of activity c. Units of input d. Units of time
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Summary for Cost Volume Profit Analysis
what is the formula to calcuate direct materials % added for beginning wip, started and completed and ending wip as well as converion percent for started nd completed.
Current Attempt in Progress Tamarisk Company reports the following costs and expenses in May. Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary From the information: $14,800 12,120 3,840 47,120 77,440 132,480 8,000 Direct labor Sales salaries Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used $66,480 44,320 2,400 1,280 1,920 14,400 2,510
what is The weighted average method when it comes to allocating joint costs