SunEnergy produces solar panels. A key step in the conversion of raw silicon to a completed solar panel occurs in the assembly department, where lightweight photovoltaic cells are assembled into modules and connected on a frame. In this department, materials are added at the beginning of the process and conver- sion takes place uniformly. At the start of November 2017, SunEnergy's assembly department had 2,400 panels in beginning work in process, which were 100% complete for materials and 40% complete for conversion costs. An additional 12,000 units were started in the department in November, and 3,600 units remain in work in process at the end of the month. These unfinished units are 100% complete for materials and 70% complete for conver- sion costs. The assembly department had 1,800 spoiled units in November. Because of the difficulty of keep- ing moisture out of the modules and sealing the photovoltaic cells between layers of glass, normal spoilage is approximately 12% of good units. The department's costs for the month of November are as follows: Beginning WIP $ 76,800 123,000 Costs Incurred During Period $ 240,000 1,200,000 Direct materials costs Conversion costs

SunEnergy produces solar panels. A key step in the conversion of raw silicon to a completed solar panel occurs in the assembly department, where lightweight photovoltaic cells are assembled into modules and connected on a frame. In this department, materials are added at the beginning of the process and conver- sion takes place uniformly. At the start of November 2017, SunEnergy's assembly department had 2,400 panels in beginning work in process, which were 100% complete for materials and 40% complete for conversion costs. An additional 12,000 units were started in the department in November, and 3,600 units remain in work in process at the end of the month. These unfinished units are 100% complete for materials and 70% complete for conver- sion costs. The assembly department had 1,800 spoiled units in November. Because of the difficulty of keep- ing moisture out of the modules and sealing the photovoltaic cells between layers of glass, normal spoilage is approximately 12% of good units. The department's costs for the month of November are as follows: Beginning WIP $ 76,800 123,000 Costs Incurred During Period $ 240,000 1,200,000 Direct materials costs Conversion costs

Name: Now assume that the assembly department inspects at the 60% stage of c
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Description: Now assume that the assembly department inspects at the 60% stage of completion. Using the w eighted-average method, calculate the cost of units transferred out, the cost of abnormal spoilage, and the cost of ending inventory for the assembly departm

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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D1.
Yuan Company has a cycle time of 3 days, uses Raw and In Process account (RIP) and expenses all conversion costs to Cost of Goods Sold. At the end of each month, all inventories are counted; their conversion components are estimated and inventory account balances are adjusted accordingly. Raw materials is backflushed from RIP to Finished Goods. The following information is for the month of July: RIP beginning, including P20,560 of conversion cost, P42,600; FG beginning, including P22,000 of conversion cost; P45,000; Raw materials purchased on account, P356,000; RIP end, including P15,500 of conversion cost, P22,500; FG end, including P11,600 of conversion cost, P16,000. Direct labor P350,000; Factory overhead P196,150. What is the total amount of cost of goods sold? a.P935,790 b.P951,250 c.P989,750 d.P902,150
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