The cost of direct materials transferred into the Rolling Department of Kraus Company is $393,600. The conversion cost for the period in the Rolling Department $266,000. The total equivalent units for direct materials and conversion are 2,400 tons and 4,750 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: per ton Conversion cost per equivalent unit: per ton

The cost of direct materials transferred into the Rolling Department of Kraus Company is $393,600. The conversion cost for the period in the Rolling Department $266,000. The total equivalent units for direct materials and conversion are 2,400 tons and 4,750 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: per ton Conversion cost per equivalent unit: per ton

Name: Cost per Equivalent UnitThe cost of direct materials transferred into
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Cost per Equivalent UnitThe cost of direct materials transferred into the Rolling Department of Kraus Company is $393,600. The conversion cost for the period in the Rolling Department is$266,000. The total equivalent units for direct materials and c

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

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $2.75 and $1.30, respectively. The equivalent units to be assigned costs are as follows: See Screenshot
The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from the Casting Department. The conversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 direct labor). Tht total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a Beginning Inventory of $25,000 Journalize the cost of transferred in materials.
Equivalent Units of Materials Cost The Rolling Department of Blackrock Steel Company had 800 tons in beginning work in process inventory (20% complete). During the period, 12,700 tons were completed. The ending work in process inventory was 2,000 tons (30% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? units
Department W had 2,520 units, one-third completed at the beginning of the period; 12,700 units were transferred to Department X from Department W during the period; and 800 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 a.16,020 units b.10,180 units c.12,260 units d.11,860 units
Equivalent Units of Production The Converting Department of Worley Company had 840 units in work in process at the beginning of the period, which were 60% complete. During the period, 17,600 units were completed and transferred to the Packing Department. There were 960 units in process at the end of the period, which were 75% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Worley Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units Direct Materials Conversion Equivalent Units Equivalent Units
Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Jabari Company is $6,000,000. The conversion cost for the period in the Rolling Department is $925,200. The total equivalent units for direct materials and conversion are 16,000 tons and 15,420 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: $ Conversion cost per equivalent unit:: per ton per ton
The cost of direct materials transferred into the Rolling Department of Jabari Company is $520, 800. The conversion cost for the period in the Rolling Department is $281,300. The total equivalent units for direct materials and conversion are 2, 800 tons and 4, 850 tons, respectively. Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit: fill in the blank 1 of 2$ per ton Conversion cost per equivalent unit: fill in the blank 2 of 2$ per ton
A company processes raw material into Products R, B, T and D. Products R, B and T are joint products and D is classified as a by-product. In process 1, 50 000 kg of material will be processed at a cost of R220 600 worth of material, R40 500 labour and R24 500 overheads. After the basic processing in process 1, thirty percent of the input is transferred to process B. In Process B additional costs of R25 400 are incurred and product B (from process B) can then be sold for R28 per kg. They transfer 60% of the original material input (from process 1) to process 2 and then the remainder to Process D. The products in process D are considered a by-product (By-product D) and have a sales price of R6 per kilogram. The cost involved with the selling of the by-product is R7 000 in total. The business account for this by crediting the net market value of by-products produced to the general production costs. In process 2 the materials processed further at a cost of R21 200. They then…
Equivalent Units of Production The Converting Department of Hopkinsville Company had 1,080 units in work in process at the beginning of the period, which were 25% complete. During the period, 22,800 units were completed and transferred to the Packing Department. There were 1,200 units in process at the end of the period, which were 25% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0". Hopkinsville Company Number of Equivalent Units of Production Whole Units Direct Materials Equivalent Units Conversion Equivalent Units Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total
Use this information about Department W to answer the question that follow. Department W had 2,760 units, one-third completed at the beginning of the period. 13,200 units were transferred to Department X from Department W during the period, and 950 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. What is the total number of units to be assigned costs on the cost of production report for Department W?
Company C transfers 3,199 units from the packaging department to finished goods. The material cost per unit is $6.17 and the conversion cost per unit is $7.22. What is the total cost transferred? Round to the nearest penny, two decimal places.
Cost Flows Through Jour The Mixing Department performs a series of processes in which a fluid chemical is concentrated. Records indicate that the Mixing Department has been charged with $128,000 of direct labor costs. The manufacturing overhead rate is 150% of direct labor costs. Beginning work in process was $448,000, and ending work in process totaled $68,000. One- half of this period's completed products is sold on account at a price equal to 160% of its cost. Prepare journal entries to record (1) various costs charged to the Mixing Department this period, (2) transfer of this period's completed product, and (3) sale of one-half of this period's production. (2) General Journal Ref. (1) Work in process-Mixing Department Wages payable To record direct labor costs. Work in process-Mixing Department Manufacturing overhead To record manufacturing overhead. Finished goods inventory Work in process-Mixing Department To record completed production Cost of goods sold (3) Description Finished…