The Fabricating Department started thecurrent month with a beginning Work inProcess inventory of $10,500. During themonth, it was assigned the followingcosts:direct materials, $76,500; direct labor$24,500; and factory overhead, 60% ofdirect labor cost.Also, inventory with a cost of $111,500was transferred out of the department tothe next phase in the process.The ending balance of the Work inProcess Inventory account for theFabricating Department is: $

Definition of Work-in-process:Work-in-process, also known as WIP, refers to partially finished goods…

Answered: The Fabricating Department started the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The Rolling Department of Jabari Steel Company had 800 tons in beginning work in process inventory (60% complete) on October 1. During October, 15,600 tons were completed. The ending work in process inventory on October 31 was 1,200 tons (25% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process?
In the month of April, a department had 500 units in the beginning work in process inventory that were 60% complete. These units had $63,000 of materials costs and $44,000 of conversion costs. Materials are added at the beginning of the process and conversion costs are added uniformly throughout the process. During April, 17,000 units were completed and transferred to the finished goods inventory and there were 2,500 units that were 20% complete in the ending work in process inventory on April 30. During April, manufacturing costs charged to the department were: Materials $2,565,000; Conversion costs $3,010,000. The cost assigned to the units in the ending work in process inventory on April 30 wasa. $5,289,000 b. $5,377,000 c. $5,251,000 d. $5,270,000
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 corriversion c. Determine the cost of units started and completed in November- !
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Cost PercentComplete Materials costs $ 5,700 65% Conversion costs $ 6,800 45% A total of 6,500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 125,500 Conversion costs $ 207,000 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. What are the equivalent units for conversion costs for the month in the first processing department? 6,900 6,250 350 5,900
Kansas Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below: Units Percent Complete with Respect to Conversion Beginning work-in-process inventory 11,000 50 % Started into production during June 98,000 Ending work-in-process inventory 21,000 80 % According to the company's records, the conversion cost in beginning work-in-process inventory was $46,915 at the beginning of June. Additional conversion costs of $825,183 were incurred in the department during the month.What was the cost per equivalent unit for conversion costs for the month? (Round your answer to 3 decimal places.) $8.322. $6.934. $8.530. $8.420.
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In the month of April, a department had 500 units in the beginning work in process inventory that were 60% complete. These units had $64000 of materials costs and $42000 of conversion costs. Materials are added at the beginning of the process and conversion costs are added uniformly throughout the process. During April, 10000 units were completed and transferred to the finished goods inventory and there were 2200 units that were 25% complete in the ending work in process inventory on April 30. During April, manufacturing costs charged to the department were: Materials $1583000; Conversion costs $1857000.(Round unit matrial and coversion cost to 0 decimal place, e.g. 135.)The cost assigned to the units transferred to finished goods during April was $3256000. $3172000. $3128000. $3150000.
Domingo Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,700 units. The costs and percentage completion of these units in beginning inventory were: Materials costs Conversion costs Cost $6,800 $3,000 Materials costs Conversion costs A total of 8,100 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Percent Complete 50% 20% Cost $160,000 $121,700 The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs. What are the equivalent units for conversion costs for the month in the first processing department?
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 $54,610 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 4,300 units, 30% completed 58,738 30 Direct materials, 39,000 units 487,500 546,238 30 Direct labor 56,340 602,578 30 Factory overhead 77,805 ? 680,383 30 Goods finished, ? units ? 30 Bal., 3,400 units, 60% completed ? 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…
A production department's output for the most recent month consisted of 19,500 units completed and transferred to the next stage of production and 19,500 units in ending Work in Process inventory. The units in ending Work in Process inventory were 60% complete with respect to both direct materials and conversion costs. There were 2,900 units in beginning Work in Process inventory, and they were 80% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method. Multiple Choice 21,820 units. 19,500 units. 20,080 units. O 31,780 units. 31,200 units.
The work-in-process account for Department #2 for the month of December of the current year is presented below: Work in Process - Department #2 Beginning (1,200 units, 1⁄4 completed) - P1,200 Transferred out (6,200 units) ??? Transferred in from Department #1 (6,000 units) - 3,600 Direct labor - 8,000 Factory overhead - 4,800 Ending (1,000 units, 1⁄2 completed) - ??? No additional direct materials are added in Department #2. The department uses FIFO method. How much is the cost of goods transferred out?12,80017,66016,00013,000 How much is the cost of ending work in process?1,6006002,6001,000
A department adds all raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 90300 units were started into production in January; and there were 20800 units that were 30% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of January? O90300 equivalent units O 84060 equivalent units. 69500 equivalent units. 96540 equivalent units. heeles

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