Subject:Cost Account - Alpha Company'sApril 1, 2017, beginning work in process was700 units. During April Alpha put intoproduction an additional 1,400 units wereput into production. At the end of April,all units were completed except for 500units.Use this information to determine the numberof units completed.

Key FormulaThe number of units completed is calculated as: Units Completed=(Units in…

Answered: Subject: Cost Account - Alpha Company's…

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 19E

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A company follows Process Costing and Manufactures a product in one process. The work in progress at the end of each month and is valued according to FIFO method. At the beginning of the month April 2015, the inventory of WIP showed 400 units, 40% completed, valued as follow:Material3600 Labour3400 Overheads1000 In the month of April material of Rs. 68500 was purchased, wages and overheads amounted to Rs. 79800 and 21280 respectively. Finished production taken in to stock in the month was 2500 units. There was no loss in the process.At the end of the month the work in progress inventory was 500 units, 80% completed as regards material and 60% completed as regards Labour and overhead.You are required to compute equivalent production and prepare a process Account.
From the following information relating to the month of January, 2019, calculate the equivalent production units and the value of finished production and work-in- progress using LIFO method. Opening work-in-progress on lst January 15,000 units; 50% complete. Units introduced in the process : 30,000 units Cost Cost Materials Labour Overheads 18,000 24,000 24,000 Materials Labour Overheads 90,000 1,57,500 2,10,000 66,000 4,57,500 During the period 22,500 units were completed and transferred to the next process. Closing work-in-progress on 31st January : 22,500 units ; 50% complete.
The debits to Work-In process for Dep# 2 for the month of March of the current year, together with the information concerning production, are presented below. All direct materials came from Dep# 1. The units completed include 1,200 in process during the beginning of the period. Dep# 2 uses WA costing
Subject: Cost Accounting
How much should be the accumulated cost of work in process as of May 31? a. P90,000 b. P100,000 c. P190,000 d. P220,000
Bethesda Company's April 1, 2019 beginning work in process was 700 units. During April an additional 2,200 units were put into production. At the end of April all units were completed except for 875 units. Use this information to determine number of units completed.
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The following information is available regarding process A for the month of February, 2019 : Production Record ; Units in process as on 1-2-2019 (all materials used, 25% complete for labour and overheads) New units introduced Units completed Units in process as on 28-2-2019 (all materials used, Атоunt ($) 4,000 16,000 14,000 33,% complete for labour and overhead 6,000 Cost Record: WIP as on 1-2-2019 Materials Атоunt ($) 6,000 1,000 1,000 Labour Overheads 8,000 Cost During the Month : Materials Labour Атоunt ($) 25,600 15,000 15,000 Overheads 55,600 Presuming the average method of inventory is used, prepare : (i) Statement of equivalent production (ii) Statement showing cost of each element
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation.Production: 9,940 units started which is comprised of 6,940 units finished and transferred out and 3,000 units started that are 100% complete as to materials and 20% complete as to conversion costs.Manufacturing costs: Materials $38,965; labor $20,500; overhead $43,288.Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.) QUIK FURNITURE COMPANYSanding DepartmentProduction Cost ReportFor the Month Ended March 31, 2017 Equivalent Units Quantities PhysicalUnits Materials ConversionCosts Units to be accounted for Work in process, March 1 enter the number of units Started into production enter the number of units Total units enter a total of the two previous numbers of units…

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