Sparkle Soda Co. manufactures a locally popular soft drink. At the start of June, there was no work-in-process inventory. The company initiated production on 15,000 barrels, and at the end of June, 2,500 barrels were still in process. What was the number of barrels completed in June? a) 12,500 b) 13,000 c) 11,500 d) 14,000

Sparkle Soda Co. manufactures a locally popular soft drink. At the start of June, there was no work-in-process inventory. The company initiated production on 15,000 barrels, and at the end of June, 2,500 barrels were still in process. What was the number of barrels completed in June? a) 12,500 b) 13,000 c) 11,500 d) 14,000

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 4E: Norwood Co. had 200 units in work in process at the beginning of the month. During the month, 7,500...

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Number of barrel completed...
Beverage Drink Company processes direct materials up to the splitoff point where two products, A and B, are obtained. The following information was collected for the month of July: Production: A 1500 liters, B 500 liters. The joint cost was $10000. There were no inventory balances of A and B. Product A may be processed further to yield 1500 liters of Product Z5 for an additional processing cost of $2 per liter. Product Z5 is sold for $20 per liter. There was no beginning inventory and ending inventory was 150 liters. Product B may be processed further to yield 500 liters of Product W3 for an additional processing cost of $4. Product W3 is sold for $30 per liter. There was no beginning inventory and ending inventory was 50 liters. --using constant gross-margin percentage NRV method, gross margin of X: Select one: a. $6500 b. $14600 c. $5400 O d. $18900 + 3 ...
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All production is sold as it is produced?
Serile Pharma places 840 units in production during the month of January. All 840 units are completed during the month. It had no opening inventory. Direct material costs added during January was $106,000 and conversion costs added during January was $11,600. What is the total cost per unit of the product produced during January? A) $140 B) $10 C) $80 D) $126
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General Accounting
Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,200 units that are 100 percent complete for materials and 30 percent complete for conversion. 15,500 units started during the period. • Ending inventory of 3,700 units that are 13 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,000 ($9,700 materials and $10,300 conversion costs). Costs added during the month were $28,600 for materials and $56,600 for conversion ($26,700 labor and $29,900 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and Equivalent Units Physical Units Direct Conversion Materials Units Completed Ending Inventory Total 15,000 37,000 52,000 2. Calculate the cost per equivalent unit for materials and conversion for March. (Round your answers to 5…
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Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,500 units that are 100 percent complete for materials and 23 percent complete for conversion. • 15,400 units started during the period. • Ending inventory of 3,400 units that are 14 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,200 ($8,900 materials and $11,300 conversion costs). • Costs added during the month were $29,600 for materials and $54,300 for conversion ($28,200 labor and $26,100 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question…