Get Account solution . NO ai please. The following refers to units processed by a breakfast cereal maker inAugust. Compute the total equivalent units of production with respectto conversion for August using the weighted average inventory method.Units ofProductPercent of ConversionAddedBeginning Work in2,30,00060%ProcessUnits started5,70,000100%Units completed6,20,000100%Ending Work in1,80,00070%ProcessA. 884,000B. 620,000C. 746,000D. 800,000E. 758,000

To calculate the total equivalent units of production (EUP) for conversion costs using the…

Answered: The following refers to units processed…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 9EA: Using the weighted-average method, compute the equivalent units of production if the beginning...

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Weighted Average Method, Unit Costs, Valuing Inventories Byford Inc. produces a product that passes through two processes. During November, equivalent units were calculated using the weighted average method: The costs that Byford had to account for during the month of November were as follows: Required: 1. Using the weighted average method, determine unit cost. 2. Under the weighted average method, what is the total cost of units transferred out? What is the cost assigned to units in ending inventory? 3. CONCEPTUAL CONNECTION Bill Johnson, the manager of Byford, is considering switching from weighted average to FIFO. Explain the key differences between the two approaches and make a recommendation to Bill about which method should be used.
During March, the following costs were charged to the manufacturing department: $14886 for materials; $14,656 for labor; and $13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?
Using the weighted-average method, compute the equivalent units of production if the beginning inventory consisted of 20,000 units, 55,000 units were started in production, and 57,000 units were completed and transferred to finished goods inventory. For this process, materials are 70% complete and the Units are 30% complete with respect to conversion.
Please show working Part 1 of the question, see images Part 2 of the question, Assuming that the July 1 work in process inventory includes $256,410 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $ Change in conversion cost per equivalent unit $
How much is the adjustment to the Cost of Sales account to set up its correct balance?
The following data show the units in beginning work in process inventory, the number of snits started, the number of units transferred, and the penant completion of the beginning of the process. Beginning Transferred Conversion Quarter WIP Started Out (1) 134,200 133,400 132,591 132,490 25 24 20 133,245 133,464 480 134,843 134,132 22 What are the equivalent units for material and conversion costs for each quarter using the weighted average method Assume that the quarters are Quarter 2 Quarter 3 Quarter 4 2 3 524 339 Units for material costs Units for conversion costs Quarter 1
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Tonbridge Corporation makes a health beverage named Tonbridge that is manufactured in a two-stage production process. The drink is first created in the Conversion Department where material ingredients (natural juices, supplements, preservatives, etc.) are combined. On July 1, Year 2, the company had a sufficient quantity of partially completed beverage mix in the Conversion Department to make 50,000 containers of Tonbridge. This beginning inventory had a cost of $80,000. During July, the company added ingredients necessary to make 190,000 containers of Tonbridge. The cost of these ingredients was $400,000. During July, liquid mix representing 180,000 containers of the beverage was transferred to the Finishing Department. The beverage mix is poured into containers and packaged for shipment in the Finishing Department. Beverage that remained in the Conversion Department at the end of July was 20 percent complete. At the beginning of July the Finishing Department had 10,000 containers of…
Problem 8-59 (Static) Prepare a Production Cost Report: Weighted-Average Method (LO 8-3, 4) Mercier Manufacturing produces a plastic part in three sequential departments: Extruding, Fabricating, and Packaging. Mercier uses the weighted-average process costing method to account for costs of production in all three departments. The following information was obtained for the Fabricating Department for the month of September. Work in process on September 1 had 15,000 units made up of the following: Direct materials Direct labor Prior department costs transferred in from the Extruding Department Costs added by the Fabricating Department Direct materials. Direct labor Manufacturing overhead. Work in process, September 1 During September, 75,000 units were transferred in from the Extruding Department at a cost of $356,250. The Fabricating Department added the following costs: Manufacturing overhead Total costs added $ 214, 200 64,800 33,480 $ 312,480 Direct materials Direct labor…
Please show working Part A of question, see images. Part B of question, Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (July). If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $ Change in conversion cost per equivalent unit $
Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.For December,2022. CBA Company presented the following costs on processes: In December, under FIFO method, what is average unit cost of inventory transferred from Process 1 to Process 2? P13.20 P13.33 P13.32 P13.21
In using average method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Cruz Company presented the following costs on three processes: what is the cost of inventory transferred out from Department B? P1,943,390 P2,002,830 P2,061,122 None of the above

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