The following refers to units processed by an ice cream maker in July. Compute the total equivalent units of production for conversion for July using the weighted-average method.Gallons of ProductPercont of ConvorslonBeginning work in processGoods started..Goods completed.Ending work in process320,00025%620,000100680,000100260,00075

Here in this question, we are required to calculate equivalent units of production under weighted…

Answered: The following refers to units processed…

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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Work in process account data for two months; cost of production reports Hearty Soup Co. uses process costing to record the costs of processing soup, which requires the cooking and filling processes. Materials are entered from the cooking process at the beginning of the filling process. The inventory of Work in Process-Filling on April 1 and debits to the account during April were as follows: Bal., 800 units, 30% completed: Direct materials (800 x $4.30) Conversion (800 x 30% × $1.75) From Cooking Department, 7,800 units Direct labor Factory overhead From Cooking Department, 9,600 units Direct labor Factory overhead During April, 800 units in process on April 1 were completed, and of the 7,800 units entering the department, all were completed except 550 units that were 90% completed. Charges to Work in Process-Filling for May were as follows: ACCOUNT Department During May, the units in process at the beginning of the month were completed, and of the 9,600 units entering the department,…
Department M had 2,300 units 56% completed in process at the beginning of June, 11,300 units completed during June, and 1,800 units 33% completed at the end of June. The number of equivalent units of production for conversion costs for June if the first-in, first-out method is used to cost inventories is Oa. 9,000 units Ob. 13,694 units Oc. 10,606 units Od. 11,894 units
The following information summarizes the activities in the Mixing Department for the month of March. Beginning inventory 8,000 units, 80% complete Started and completed 196,000 units Ending inventory 24,000 units, 25% complete Material is added at the beginning of the process, and conversion costs are incurred evenly throughout the process. Calculate the equivalent units of production with respect to materials during the month of March using the weighted average method. Select one: a. 228,000 b. 212,000 c. 208,000 d. 244,000 e. 210,000
If 500 units were one-fourth completed at May 31, 5,500 units were completed during May, and the first-in, first-out method is used, what was the number of equivalent units of production with respect to conversion costs for May? a. 4,875 b. 4,500 c. 5,625 d. 5,500 2. What is the conversion cost per equivalent unit? a. $10 b. $25 c. $32 d. $15

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