Sur Company uses the weighted-average method in its process costing system. Information for the month of May concerning Department A, the first stage of the company's production process follows: Materials Conversion Work in process, beginning OR 4,000 OR 3,000 Current costs added 20,000 16,000 Total costs Equivalent units Costs per equivalent unit Goods completed Work in process, ending 90,000 units 10,000 units Material costs are added at the beginning of the process. The ending work in process is 50% complete with respect to conversion costs. Instructions: What are the equivalent units of production and Cost Per Equivalent Unit

Sur Company uses the weighted-average method in its process costing system. Information for the month of May concerning Department A, the first stage of the company's production process follows: Materials Conversion Work in process, beginning OR 4,000 OR 3,000 Current costs added 20,000 16,000 Total costs Equivalent units Costs per equivalent unit Goods completed Work in process, ending 90,000 units 10,000 units Material costs are added at the beginning of the process. The ending work in process is 50% complete with respect to conversion costs. Instructions: What are the equivalent units of production and Cost Per Equivalent Unit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Clonex Labs, Incorporated, uses the weighted average method in its process costing system. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 48,000 90 % 60% Work in process, October 31 36,000 75 % 52% The department started 398,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October. Materials Conversion Equivalent units of production
Wildhorse Company uses the weighted-average process cost system. The Molding Department adds materials at the beginning of the process and conversion costs are incurred uniformly throughout the process. Work in Process Inventory on May 1 was 75% complete as to conversion costs and Work in Process Inventory on May 31 was 60% complete for conversion costs. Complete the Production Cost Report for the Molding Department for the month of May using the above information and the information below. (Round unit costs answers to 2 decimal places, e.g. 52.75.) WILDHORSE COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Quantities Physical Units Materials Equivalent Units Conversion Costs Units to be accounted for Work in process, May 1 10,400 Started into production 41,600 Total units 52,000 Units accounted for Completed and transferred out 45,500 45500 45500 Work in process, May 31 6,500 6500
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month O $40,868 O $40,535 O $59,904 $ $ O $46,991 1900 8300 3600 55% 25% Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round your intermediate calculations to 3 decimal places.) 7800 7000 $…
Sur Company uses the weighted-average method in its process costing system. Information for the month of May concerning Department A, the first stage of the company's production process follows: Materials Conversion Work in process, beginning.. OR 4,000 OR 3,000 Current costs added.. 20,000 16,000 Total costs.. Equivalent units... 主 Costs per equivalent unit. Goods completed.. 90,000 units Work in proceSs, ending.. 10,000 units Material costs are added at the beginning of the process. The ending work in process is 50% complete with respect to conversion Costs..
Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 work in process, April 1 costs added during April total costs units Calculate the conversion costing method. 27,000 59,000 34,000 % complete DM 60% 70% The cost of beginning work in process and the costs added during April were as follows: % complete 85% 40% conversion Conversion $191,175 $208.985 $400,160 DM $ 25,310 $190.720 $216,030 unit cost using the weighted average process Total cost $216,485 $399,705 $616,190
added when the units are one-half completed. Labor and factory overhead are applied evenly during the process. Make the following computations for each case: a. Unit cost of materials, labor, and factory overhead for the month b. Cost of the units finished and transferred during the month Cost of the units in process at the end of the month C. E6-4 Calculating equivalent units Conte Chemnical Co. uses the weighted average cost method. All materials are added at the start of the production process. Labor and overhead are added evenly at the same rate throughout the process. Conte's records indicate the following data for May: Beginning work in process, May 1 (50% completed). Started in May..... 1,000 units 5,000 units Completed and transferred 4,000 units Ending work in process, on May 31, is 75% completed as to labor and factory overhead. Make the following calculations: a. Equivalent units for direct materials b. Equivalent units for labor and overhead (Hìnt first determine the ending…
A company uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 2,500 $ 14,600 $ 6,700 75 % 20 % 11,200 10,100 $ 173,700 $ 243,700 3,600 90% 30% The cost per equivalent unit for materials for the month in the first processing department is closest to:
Assign costs to the assembly department’s output—specifically, the units transferred out to the painting department and the units that remain in process in the assembly department at month-end. Use the weighted-average method. Carlberg Company has two manufacturing departments, assembly and painting. The assembly department started 12,300 units during November. The following production activity unit and cost information refers to the assembly department’s November production activities. Assembly Department Units Percent of DirectMaterials Percent ofConversion Beginning work in process 3,200 75 % 25 % Units transferred out 10,200 100 % 100 % Ending work in process 5,300 90 % 40 % Beginning work in processinventory—Assembly dept $ 1,767 (consists of $1,143 for direct materialsand $624 for conversion) Costs added during the month: Direct materials $ 13,827 Conversion $ 17,856
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 2,400 $ 8,800 $4,100 55% 25% 8,300 7,500 $ 111,900 $ 85,000 3,200 70% 55% The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Round "Cost per equivalent unit" to 3 decimal places. Round "Cost…
Pureform, Incorporated, uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Work in process inventory, beginning Units started in process Units transferred out Work in process inventory, ending Cost added during the month Units 86,000 814,000 820,000 80,000 1. Equivalent units of production 2. Cost per equivalent unit Materials Materials $ 70,200 $ 488,640 The beginning work in process inventory was 80% complete with respect to materials and 65% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 40% complete with respect to labor and overhead. Labor $ 928,000 Labor $ 39,600 Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Determine the first department's cost per equivalent unit for materials, labor,…
Sumter Corporation uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process Percent complete with respect to materials Percent complete with respect to conversion Costs in the beginning inventory: Materials cost Conversion cost Units started during the month Units completed and transferred out during the month Costs added to production during the month: Materials cost Conversion cost Work in process, ending: Units in process Percent complete with respect to materials Percent complete with respect to conversion Multiple Choice $535,000
Longboard Company has a process costing system. All materials are introduced at the beginning of the process in Department One. The following information is available for the month of January Work in process, July 1 (408 complete for conversion) Started Completed and transferred to Department 2 Work in process, July 31 (60% complete for conversion) What are the equivalent units for the month of July if the company uses the FIFO method? Multiple Choice Materials 2.280 and Conversion 1.900 O Materials 2,280 and Conversion 1.936 Materials 2.280 and Conversion 2.088 Materies 1,900 and Conversion 1936 Units Male 1900 and Conversion 2.08 380 1,900 1,800 480