The ledger of American Company has the following work-in-processaccount.Work in Process-PaintingTransferred5/1Balance3,790 5/31?out5/31Materials6,9905/31Labor3,1305/31Overhead 1,580Balance?5/31Production records show that there were 500 units in the beginninginventory, 30% complete, 1,630 units started, and 1,500 unitstransferred out. The beginning work in process had a materials cost of$2,840 and conversion costs of $950. The units in the ending inventorywere 40% complete. Materials are entered at the beginning of thepainting process.a. How many units are in process at May 31?b. What is the unit materials cost for May?

We need to calculate:Units in process at May 31.Unit materials cost for May. Part (a): Units in…

Answered: The ledger of American Company has the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 5EA: Sterlings records show the work in process Inventory had a beginning balance of $4000 and an ending...

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The ledger of American Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,890 5/31 Transferred out ? 5/31 Materials 5,900 5/31 Labor 3,066 5/31 Overhead 2,480 5/31 Balance ? Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,740 and conversion costs of $1,150. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. How many units are in process at May 31? Work in process, May 31 enter a number of units in process at May 31 units What is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit materials cost for May $enter a dollar amount of the unit materials cost for May rounded to 2 decimal places What is the…
The ledger of American Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,890 5/31 Transferred out ? 5/31 Materials 5,900 5/31 Labor 3,066 5/31 Overhead 2,480 5/31 Balance ? Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,740 and conversion costs of $1,150. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. What is the total cost of units transferred out in May? The total cost of units transferred out in May $enter a dollar amount of the total cost of units transferred out in May What is the cost of the May 31 inventory? Work in process $enter a dollar amount of the cost of the inventory on May 31
The ledger of Sheffield Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,690 5/31 Transferred out ? 5/31 Materials 5,890 5/31 Labor 5,252 5/31 Overhead 1,680 5/31 Balance ? Production records show that there were 400 units in the beginning inventory, 30% complete, 1,700 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $3,140 and conversion costs of $550. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. How many units are in process at May 31? Work in process, May 31 units What is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit materials cost for May $ What…
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work process for conversion. Given that materials are added at the beginning of the process. Beginning Quarter WIP Transferred Conversion (%) 134,350 133,550 25 522 132,593 132,515 24 337 133,245 133,432 20 487 134,845 134,032 23 What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent. Quarter 1 Quarter 2 Quarter 3 Quarter 4 1 2 3 4 - Started Out Units for material costs Units for conversion costs
Swifty Company had the following department data: Work in process inventory, beginning Completed and transferred out Work in process inventory, ending Physical Units 0 91000 8000 Materials are added at the beginning of the process. What are the equivalent units of production for materials during the period?
Coronado Company had the following department data: Work in process inventory, physical units, beginning Units started Completed and transferred out physical units Work in process inventory, physical units, ending -0- O 15000 O 24200 O 21210 O 23190 24800 19600 4600 Direct materials are added at the beginning of the process. Conversion costs are added evenly throughout the process. The incomplete units are 35% completed as to conversion costs. What is the total number of equivalent units of production for direct materials during the period if the weighted-average method is used?
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process. Beginning Quarter WIP Started 1 2 3 4 Transferred Conversion Out (%) 134,350 133,550 132,503 132,515 522 337 133,245 133,432 487 134,845 134,032 What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent. Quarter 1 Quarter 2 Quarter 3 Quarter 4 Units for material costs Units for conversion costs 25 24 20 23
Sterlings records show the work in process Inventory had a beginning balance of $4000 and an ending balance of $3,000. How much direct labor was incurred if the records also show :
The charges to Work in ProcessAssembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Determine the following: a. The number of units in work in process inventory at the end of the period b. Equivalent units of production for direct materials and conversion c. Costs per equivalent unit for direct materials and conversion d. Cost of the units started and completed during the period
Selected information from Skylar Studios shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2
K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the first processing department, the following equivalent units schedule has been prepared: The cost per equivalent unit for the period was as follows: The cost of beginning work in process was direct materials, 40,000; conversion costs, 30,000. Required: 1. Determine the cost of ending work in process and the cost of goods transferred out. 2. Prepare a physical flow schedule.
Selected information from Hernandez Corporation shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2

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