Sved Be Co us a pracess coting system Begining inventory for January consisted of 1,600 units that were 62% completed. 10,800 units were he process during January During January, 10,500 units were completed. How many units were in ending inventory on January 31?
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- Q4. Q3.The units of an item available for sale during the year were as follows: Date Line Item Description Value Jan. 1 Inventory 2,900 units at $5 Feb. 17 Purchase 2,800 units at $7 Jul. 21 Purchase 3,200 units at $9 Nov. 23 Purchase 1,100 units at $11 There are 1,400 units of the item in the physical inventory at December 31. The periodic inventory system is used. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. a. Determine the inventory cost by the first-in, first-out method. b. Determine the inventory cost by the last-in, first-out method. c. Determine the inventory cost by the weighted average cost method. Round your answer to the nearest dollarWhat is the balance work in process inventory at the end of the month
- 5 a. Determine the number of units in progress inventory at December 31. _______ units b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter in "0".The following production data were taken from the records of the finishing department for June: Inventory in process, June 1, 25% completed 220 units Transferred to finished goods during June 5,100 units Equivalent units of production during June 5,495 units Determine the number of equivalent units of production in the June 30, finishing department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs. a.360 units b.540 units c.675 units d.450 unitsA company began January with 4,000 units of its principal product. The cost of each unit is $7. Inventory transactions the month of January are as follows: Date of Purchase January 10 January 18 Totals * Includes purchase price and cost of freight. Date of Sale January 5 January 12 January 20 Total Perpetual Average Sales Beginning Inventory Sale - January 5 Subtotal Average Cost Purchase - January 10 Subtotal Average Cost 5,000 units were on hand at the end of the month. Sale - January 12 Subtotal Average Cost Units 3,000 4,000 7,000 Units 2,000 1,000 3,000 6,000 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. Note: Round average cost per unit to 4 decimal places. Enter sales with a negative sign. Number of units Purchases Unit Cost* $8 9 10,000 4,000 2,000 X 6,000 3,000 9,000 1,000 X Inventory on hand Cost per unit 7.0000 $ 28,000 0 8.0000 Answer is not complete. Inventory Value 28,000 24,000 52,000 Total Cost $…
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (37% completed) Completed units during June Ending Inventory (58% complete) 5,000 units 63,000 units 3,700 units What is the number of material equivalent units of production in the June 30, Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories and materials were added at the beginning of the process? a. 66,700 units Ob. 61.700 units Oc. 3.700 units Od. 58,000 unitsDuring May, the number of equivalent units of materials applied to units produced by Department Q totaled 48,000, computed as follows: beginning inventory, 5,000 equivalent units; units started and completed in May, 37,000 equivalent units; and ending inventory, 6,000 equivalent units. On the basis of this information, which of the following statements is true? Multiple Choice There were more units in Department Q's ending inventory than in Department Q's beginning inventory for May. Department Q completed 48,000 units of product during May. The number of units transferred in May from Department Q to next process or department was 37,000. Department Q used enough materials during May to produce 48,000 equivalent units.Domestic
- The following data on materials purchased and issued during the month of June were shown: the total units and cost of ending inventory under the periodic inventory system FIFO method should be:\ 2. The conversion cost isInventory balances for the MMM Enterprise for the month of June are as follows: June 1 June 30 Raw materials P 2,250 P 1,750 Work-in-process 4,000 3,100 Finished goods 9,000 7,500 During the month, purchases of direct materials were P 3,000. Direct labor and factory overhead costs were P 5,000 and P 7,000 respectively. How much is the conversion costs? Group of answer choices P 15,500 Р 12,000 P 15,000 Р 16,400The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (36% completed) 4,600 units Completed units during June 57,700 units Ending inventory (60% complete) 3,400 units The number of conversion equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories, is