Tang Company accumulates the following data concerning raw materials in making one gallon of the finished product: 1) Price-net purchase price $2.42, freight-in $0.58, and receiving and handling $0.29. 2) Quantity-required materials 2.80 pounds, allowance for waste and spoilage 0.88 pounds. Compute the following: a) Standard direct materials price per gallon. b) Standard direct materials quantity per gallon. c) Total standard materials cost per gallon.

Tang Company accumulates the following data concerning raw materials in making one gallon of the finished product: 1) Price-net purchase price $2.42, freight-in $0.58, and receiving and handling $0.29. 2) Quantity-required materials 2.80 pounds, allowance for waste and spoilage 0.88 pounds. Compute the following: a) Standard direct materials price per gallon. b) Standard direct materials quantity per gallon. c) Total standard materials cost per gallon.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 13E: Wyandotte Company provided the following information for the last calendar year: During the year,...

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The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are 70% complete and the Units are 30% complete with respect to conversion.
Given the following information, determine the equivalent units of ending work in process for materials and conversion under the weighted-average method: beginning inventory of 2,500 units is 100% complete with regard to materials and 60% complete with regard to conversion 18,000 units were started during the period 17,500 units were completed and transferred ending inventory is 100% complete with materials and 65% complete with conversion
Given the following information, determine the equivalent units of ending work in process for materials and conversion using the weighted-average method: Beginning inventory of 750 units is 100% complete with regard to materials and 30% complete with regard to conversion. 9,500 units were started during the period. 8,900 units were completed and transferred. Ending inventory is 100% complete with regard to materials and 68% complete with regard to conversion.
Wyandotte Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 256,900, direct labor cost was 176,000, and overhead cost was 308,400. There were 40,000 units produced. Required: 1. Calculate the total cost of direct materials used in production. 2. Calculate the cost of goods manufactured. Calculate the unit manufacturing cost. 3. Of the unit manufacturing cost calculated in Requirement 2, 6.62 is direct materials and 7.71 is overhead. What is the prime cost per unit? Conversion cost per unit?
Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units; 55,000 units were started in production; and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are added at the beginning of the process, and the units are 35% complete with respect to conversion.
I will post this several times, dont answer it if you already answer it! I will mark down the second SAME answer if ever.
The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $122,880. The conversion cost for the period in the Filling Department is $398,240. The total equivalent units for direct materials and conversion are 51,200 ounces and 52,400 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent.
The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is $242,880. The conversion cost for the period in the Filling Department is $213,440. The total equivalent units for direct materials and conversion are 35,200 ounces and 36,800 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent. Direct materials cost per equivalent unit: $ per ounce Conversion costs per equivalent unit: $ per ounce
Lights Incorporated calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (39,500 units): Direct materials (93% completed) Conversion (57% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (93% completed) Conversion (57% completed) Cost incurred during July: Direct materials Conversion costs $ 122,750 77,200 $ 199,950 93,500 108,300 24,700 $ 183,500 291,500 Total equivalent units for materials under the weighted-average method are calculated to be:
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