[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 Unit Reconciliation Units to account for Beginning work in process Units started this period Total units to account for $ 24,150 2,900 403, 200 213,440 Units 2,500 36,000 35,500 3,000 2,500 36,000 38,500 $ 27,050 616,640 $ 643,690 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. 60%

[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 Unit Reconciliation Units to account for Beginning work in process Units started this period Total units to account for $ 24,150 2,900 403, 200 213,440 Units 2,500 36,000 35,500 3,000 2,500 36,000 38,500 $ 27,050 616,640 $ 643,690 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. 60%

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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Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process—Grinding Department Debit Credit Inventory, May 1 451,950 Completed and transferred to the Mixing Department ? Materials 570,560 Conversion 296,232 Inventory, May 31 ? The May 1 work in process inventory consisted of 131,000 pounds with $279,030 in materials cost and $172,920 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion. During May, 240,000 pounds were started into production. The May 31 inventory consisted of 113,000 pounds that were 100% complete with respect to materials and 60% complete with respect to conversion. The company uses the…
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Data for the two departments of Kimble & Pierce Company for June of the current fiscal year are as follows: Drawing Department Winding Department Work in process, June 1 4,800 units, 25% completed 3,200 units, 75% completed Completed and transferred to next processing department during June 65,800 units 64,600 units Work in process, June 30 3,600 units, 60% completed 4,400 units, 25% completed Production begins in the Drawing Department and finishes in the Winding Department. Question Content Area a. If all direct materials are placed in process at the beginning of production, determine the direct materials and conversion equivalent units of production for June for the Drawing Department. If an amount is zero, enter in "0". Whole Units Direct MaterialsEquivalent Units ConversionEquivalent Units Inventory in process, June 1 fill in the blank da6e050cefa9faa_1 fill in the blank da6e050cefa9faa_2 fill in the blank da6e050cefa9faa_3 Started and completed in…
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[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 875,840 $ 27,150 3,658 $ 30,800 552,450 323,390 5906,640 Direct Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 2,500 100% 20% Units started this period 43,500 Completed and transferred out 43,000 Ending work in process inventory 3,000 100% без Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Unit Reconciliation Units to account for Total units to account for Units accounted for Total units accounted for Equivalent Units of Production (EUP) Equivalent units of production Cost per EUP Total costs -Equivalent units of production Cost per equivalent…
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Required information [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 12,300 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials. Conversion Direct Materials Conversion Units Numerator: Costs to be allocated $ $ 3,200 12,300 10, 200 5,300 Percent Complete for Direct Materials 75% $ 1,143 624 13,827 17,856 13,827 / 17,856 / 90% Percent Complete for Conversion 25% Calculate the Assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the FIFO method. $ 1,767 31,683 Cost per…
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