The Cutting Department of Sanderson Company has the following production and cost data for July. Production Costs 1. 15,000 units Transferred out Beginning work in process Materials 70,000 2. Ending work in process, 5,000 units that are 60% complete as to Labor 21,600 Manufacturing overhead 25,200 conversion costs and 100% complete as to materials at July 31. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Instructions (a) Determine the equivalent units of production for (a) materials and (2) conversion costs.

The Cutting Department of Sanderson Company has the following production and cost data for July. Production Costs 1. 15,000 units Transferred out Beginning work in process Materials 70,000 2. Ending work in process, 5,000 units that are 60% complete as to Labor 21,600 Manufacturing overhead 25,200 conversion costs and 100% complete as to materials at July 31. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Instructions (a) Determine the equivalent units of production for (a) materials and (2) conversion costs.

Name: The Cutting Department of Sanderson Company has the following product
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: The Cutting Department of Sanderson Company has the following production and cost data for July.ProductionCosts1.Transferred outBeginning work in process$ 0-15,000 unitsMaterials70,0002.Ending work inprocess, 5,000 units that are60% complete as toLa

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

The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department Date Item August 1 Bal., 36,000 units, 3/4 completed 31 Direct materials, 200,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 196,000 units 31 Bal., ? units, 1/2 completed Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest a. cent. Debit 450,000 207,900 680,400 Credit 1,361,660 ACCOUNT NO. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during August 4. Cost of units started and completed during August Balance Balance Debit Credit 207,360 657,360 865,260 1,545,660 184,000 184,000 00000 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per…
Production information shows the following costs and units for the smoothing department in August. Cost Units Work in process Beginning balance: materials $1,500 Beginning units 640 Beginning balance: conversion 2,300 Transferred in 1,750 Materials 7,104 Transferred out 1,730 Labor 14,500 Overhead 6,548 All materials are added at the beginning of the period. The ending work in process is 10% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month? Transferred out $4 Ending inventory $
The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $35,700 of direct materials. ACCOUNT Work in Process-Forging Department Date Nov. Item 1 Bal., 3,400 units, 60% completed 30 Direct materials, 31,000 units 30 Direct labor 30 Factory overhead 30 Goods finished, 2 units 30 Bal., 2,700 units, 80% completed LA Debit 316,200 33,410 46,140 Credit ? ACCOUNT NO. Balance Debit Credit 40,596 356,796 390,206 436,346 ? ? a. Determine the number of units transferred to the next department. units b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials Cost per equivalent unit of conversion c. Determine the cost of units started and completed in November.
Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1 (65% complete with respect to conversion) Started in August Completed Work in process, August 31 (71% complete with respect to conversion) Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. a. Using the weighted-average method b. Using the FIFO method Equivalent Units Materials 17,700 118,900 118,900 17,700 Conversion Costs
please answer complete question with detailed working
The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $82,770 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 8,900 units, 50% completed 98,790 30 Direct materials, 81,000 units 729,000 827,790 30 Direct labor 130,580 958,370 30 Factory overhead 180,331 ? 1,138,701 ? 30 Goods finished, ? units ? 30 Bal., 7,100 units, 80% completed
Peridot Company's grinding department had the following data for the month of January: Production: Units in process, January 1, 75% complete Units completed and transferred out Units in process, January 31, 45% complete Costs: Work in process, January 1 13,000 tons 39,000 tons 20,000 tons Costs added during January $6,265 $20,135 Determine the cost to be assigned to ending work-in-process (EWIP) using the weighted average method. (Note: Round the unit cost to two decimal places.) a. $4,950 Ob. $7,565 ○ c. $8,984 Od. $3,790
Shirley Processing, Incorporated (SPI) makes adhesive tape. The following information on the physical flow of units and costs for month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Physical units Percentage Complete. Materials 107,000 100% Conversion 40% 957,000 1,064,000 975,500 100% 100% 88,500 100% 20% 1,064,000 Cost Beginning work-in-process Current period Total $ 186,570 1,871,298 Direct Materials $ 167,180 1,234,530 Conversion $ 19,390 636,768 Total $ 2,057,868 $ 1,401,710 $ 656,158 Required: a. Compute the equivalent units for the conversion cost calculation for March assuming Shirley Processing. Incorporated uses the weighted-average method. b. Compute the cost per equivalent unit for direct materials and conversion costs for March assuming Shirley Processing, Incorporated uses the weighted-average method. Complete this question by entering your answers in the tabs below. Required A Required B Compute…
ABC Company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately. The production quantity schedule for April is reproduced below: Work in process on April 1 (60% complete as to conversion costs) 1,000 Units started during April 5,000 Total units to account for 6,000 Units completed and transferred out 4,000 Work in process on April 30 (20% complete as to conversion costs) 2,000 Total units accounted for 6,000 Costs pertaining to the month of April are as follows: Beginning inventory costs: (DM, $54,600; Conversion, $35,560) $90,160 Costs incurred during April (DM, $468,000; Conversion $574,060) $1,042,060 Question #1: Using the weighted average method, the equivalent unit materials cost for April is? Question #2: Using the weighted average method, the 4,000 units completed during April will be transferred out at an EUP unit cost of?
At Greytown Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion, and production data for its Painting Department in selected months are as follows: Beginning Work In Process Ending Work In Process Percentage Units Completed Percentage Month Units Completed and Transferred Out Units Completed July -0- — 11,000 1,500 90% Sept. 2,500 20% 9,000 5,000 70% Instructions Compute the equivalent units of production for materials and conversion costs for September.
Prepare a Production Cost Report Troika Company The production information for Troika's Smoothing department for August is as follows: Work in process Beginning balance: materials Beginning balance: conversion Materials Labor Overhead Cost $ 1,550 2,500 7,441 14,520 7,930 Beginning units Transferred in Transferred in Transferred out Units 650 1,780 1,810 All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. Prepare a production cost report for August for the Smoothing Department.