Sunland Company has the following production data for March 2027: no beginning work in process, units started and completed28,200, and ending work in process 4,700 units that are 100% complete for materials and 40% complete for conversion costs. Sunlanduses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $11, determine the costs tobe assigned to the units completed and transferred out and the units in ending work in process. The total costs to be assigned are$561,180.Completed and transferred outEnding work in process$$

Step 1: Calculating equivalent units Materials: Units started and completed = 28,200 units Ending…

Answered: Sunland Company has the following…

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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Department W had 2,460 units, one-third completed at the beginning of the period; 12,500 units were transferred to Department X from Department W during the period; and 1,500 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The equivalent units of production used to compute unit conversion cost on the cost of production report for Department W, assuming the company uses FIFO, are
For Jaja Corp, materials are added at the start of the process in Department Yen. Units received from Department Won costs P11.10 while in Department Yen, unit costs for materials and conversion costs were P1 and P1.22 respectively. The company’s quantity data showed that WIP beg, which had a cost of P80,000, had 8,000 units and were ¾ done. During the period, Department Won transferred 50,000 units to Department Yen. At the end of the period, WIP has 10,000 units which are 1/5 done and there were 3,000 normal lost units. Required: 1. Compute for the cost of work in process end assuming that the 3,000 units were lost at the end of processing. 2. Compute for the unit cost transferred to finished goods if the 3,000 units were lost at the end of processing but were considered abnormal.
Zoey Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.. For November 2021, Masipag Company presented the following costs on three processes: A.What is the total costs transferred from Department 1 to Department 2? P 84,040 P110,450 P 70,760 P115,760 B. What is the total costs transferred from Department 2 to Department 3? P177,185 P184,175 P212,135 P203,625
DriveTrain, Incorporated instituted a new process in October 2023. During October, 10,800 units were started in Department A. Of the units started, 8,200 were transferred to Department B, and 2,600 remained in Work-in-Process at October 31, 2023. The Work-in-Process at October 31, 2023, was 100% complete as to material costs and 50% complete as to conversion costs. Material costs of $29,160 and conversion costs of $38,000 were charged to Department A in October. What were the total costs transferred to Department B assuming Department A uses weighted-average process costing?
Solomons, Inc. has refined its allocation system by separating manufacturing overhead into two cost pools, one for each department. The estimated cost for the mixing department, $615,000, will be allocated based on direct labor hours, and the estimated direct labor hours for the year are 201,000. The estimated cost for the packaging department, $293,000, will be allocated based on direct labor hours, and the estimated machine hours for the year are 59,200. In October, the company incurred 17,240 direct labor hours in the mixing department and a total of 14,260 machine hours in the packaging department.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the predetermined overhead allocation rates. Department Total estimated overhead cost ? Total estimated quantity of the overhead allocation base = Predetermined Overhead Allocation Rate (Per Machine Hour) Mixing Department = Packaging Department =…
For Tabik Corp, materials are added at the start of the process in Department B. Units received from Department A costs P11.10 while in Department B, unit costs for materials and conversion costs were P1 and P1.22 respectively. The company’s quantity data showed that WIP beg, which had a cost of P80,000, had 8,000 units and were ¾ done. During the period, Department A transferred 50,000 units to Department B. At the end of the period, WIP has 10,000 units which are 1/5 done and there were 3,000 lost units. What is the unit cost transferred to finished goods if the 3,000 units were lost at the end of processing but were considered abnormal?
Meman
Tech Enterprise makes a single product in two departments. The production data for Department B for August 2019 follows: Quantities: In process, August 1 (40% complete) 4,000 units Received from Department A 30,000 units Completed and transferred 25,000 units In process, August 31 (60% complete) 6,000 units Production costs: August 1 August 31 Transferred in P48,900 P267,300 Materials 11,400 202,500 Conversion cost 5,820 243,000 Materials are added at the start of the process, and losses normally occur during the early stage of the operation. Cost of goods manufactured using FIFO method.
Nagkamali Inc. adds materials at the start of the process in Department B. Units received from Department A costs P11.10 while in Department B, unit costs for materials and conversion costs were P1 and P1.22 respectively. The company’s quantity data showed that WIP beg, which had a cost of P80,000, had 8,000 units and were ¾ done. During the period, Department A transferred 50,000 units to Department B. At the end of the period, WIP has 10,000 units which are 1/5 done and there were 3,000 normal lost units. Compute for the total cost of units transferred to finished goods using average costing assuming that the lost units were spoiled at the start of processing. (SOLUTIONS MUST BE IN GOOD ACCOUNTING FORM. EXCEL FORM WOULD BE GREAT. ACCOUNT TITLES ON THE LEFT, AMOUNTS ON THE RIGHT. USE TABLE IF NECESSARY. AVOID PARENTHETICAL SOLUTIONS. THANKS, A LOT!)

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