[The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April.Beginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryUnits started and completedUnits77,000407,000385,00099,000UnitsDirectMaterials.PercentComplete70%PercentAdded90%(a) Compute the number of units started and completed this period for the first production department.Equivalent units of production: FIFO methodDirect MaterialsPrav(b) Compute the number of equivalent units of production for both direct materials and conversion for the first production departmenfor April using the FIFO method.ConversionEUPPercent Complete30%B16 1740%ConversionPercentAddedof 17⠀⠀EUPNext >

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Description: [The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April.Beginning work in process inventoryUnits started this periodCompleted and transferred outEndin

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[The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units started and completed Units 77,000 407,000 385,000 99,000 Units Direct Materials. Percent Complete 70% 90% (a) Compute the number of units started and completed this period for the first production department. Equivalent units of production: FIFO method Direct Materials Percent Added Prav (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production departmen for April using the FIFO method. Conversion EUP Percent Complete 30% B 16 17 40% Conversion Percent Added of 17 ⠀⠀ EUP Next >

[The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units started and completed Units 77,000 407,000 385,000 99,000 Units Direct Materials. Percent Complete 70% 90% (a) Compute the number of units started and completed this period for the first production department. Equivalent units of production: FIFO method Direct Materials Percent Added Prav (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production departmen for April using the FIFO method. Conversion EUP Percent Complete 30% B 16 17 40% Conversion Percent Added of 17 ⠀⠀ EUP Next >

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 information below was obtained from the records of the first processing department of California Corporation for the month of July. The company uses the weighted-average method in its process costing system. units percent completed: Labor and overhead work in process inventory, July 1 20,000 40% started during the month 70,000 completed during the month 80,000 Work in process inventory, July 31 ? 25% All materials are added at the beginning of the manufacturing process. The equivalment units for labor and overhead for the month is: 70,000 90,000 80,000 82,500
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[The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 71,000 Percent Complete 65% Percent Complete 35% Units started this period 377,000 Completed and transferred out 355,000 Ending work in process inventory 93,000 90% 40% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Completed and transferred out Ending work in process Total Equivalent units of production: Weighted average method Direct Materials Conversion Units Percent Complete EUP Percent Complete EUP 355,000 93,000 448,000
Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 67,000 357,000 335,000 89,000 Completed and transferred out Ending work in process Total Direct Materials Percent Units 335,000 89,000 424.000 Complete Percent Complete 70% 30% 85% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Conversion Equivalent units of production: Weighted average method Direct Materials Percent Complete 85% 35% EUP Percent Complete Conversion EUP
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Sohar Company had the following department data: Physical Units Work in process, July 1 30,000 Completed and transferred out 135,000 Work in process, July 31 45,000 Materials are added at the beginning of the process. What is the total number of equivalent units for materials in July? Select one: а. 45,000. O b. 150,000. OC. 210,000. O d. None of the answers are correct Ое. 135,000.
Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March. Units Costs Beginning work in process inventory Started 3,000 Beginning work in process inventory 30,000 Direct materials $ 3,180 Ending work in process inventory 6,000 Conversion 13,896 status of ending work in process inventory Direct materials added Materials-Percent complete Direct labor added $ 17,076 212,310 170,910 239,274 $639,570 Conversion-Percent complete Overhead applied (140% of direct labor) Total costs to account for Ending work in process inventory $ 61,500 Prepare a process cost summary report for this process using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) Total Costs to Account for: Total costs to account for: $ 0 Total costs accounted for $ 0 Difference due to rounding cost/unit Unit Reconciliation: *********** *********** OLO 100% 25% 5 of 5 ی
Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 31,450 3,900 Units 470,050 263, 250 3,000 39,500 39,000 3,500 $ 35,350 733,300 $768,650 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places.
The following data are given on the production of Perez Mfg for July: Total Equivalent Production 28,500 Placed in Process, Finished, and Transferred 20,000 Finished and on hand 6,000 units In process, end 8,000 units 1/8 done In process beginning ? 1/4 done Placed in Process ? The FIFO costing method was used. How many units were there in the beginning inventory of work in process?
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1) A company uses process costing and provides the following information for the month of August: Physical Flow in August Cost Data for August Units in Process, Aug. 1 100 Materials Conversion Total Units Started in August 1100 Beg. WIP: $734 $1,547 $2,281 Units Completed in August 1120 Current Period: 12,708 $13,897 $26,605 Units in Process, Aug. 30 80 Total: $13,442 $15,444 $28,886 Units in process at the end of August were 30% complete with respect to materials and conversion costs. How much cost should be assigned to ending work-in-process inventory for the month of August? (Round all intermediate calculations and the final answer to the nearest dollar and cents.)2) A company uses process costing. The following information pertains to the Assembly Department for the month of June: Assembly Department physical inventory for June: 100 units completed and transferred out 20 units in ending work‐in‐process inventory Ending work-in-process inventory is 10% complete with respect to…