$516,301$1,770,842.$571,709$943,699.$888,2916 Fans Company has two service departments - product design and engineering support, and two production departments-assembly and finishThe distribution of each service department's efforts to the other departments is shown below:SERVICE DEPARTMENTProduct DesignEngineering SupportThe direct operating costs of the departments (including both variable and fixed costs) were as follows:Product DesignEngineering SupportAssemblyFinishingSERVICES PROVIDED TODesign0820%Multiple Choice$ 145,000$ 155,000$ 440,000$ 720,000Support10%08Assembly30%45%Finishing60%35%The total cost accumulated in the assembly department using the reciprocal method is (calculate all ratios and percentages to 4 decimal places, fexample 33.3333%, and round all dollar amounts to the nearest whole dollar):

Reciprocal method is most accurate method of allocating cost in different departments. They transfer…

Answered: The total cost accumulated in the…

The total cost accumulated in the assembly department using the reciprocal method is (ca example 33 3333% and round dollar

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Required Information [The following information applies to the questions displayed below.] The first…

A: The equivalent units are the units that are finished during the period on percentage basis. The unit…

Q: Using the following terms, prepare the worksheet to show the calculation to answer the question:…

A: Cost of units transferred out = (10000 units x 100% complete) * ($4 + $7)…

Q: In using FIFO method, Cruz Company produces a product that undergoes three processes and the…

A: No. of equivalent units Actual units ( Material) Equivalent units (Material) Actual…

Q: The unit cost per EUP computed under weighted average were as follows: Materials - P7 Conversion…

A: Solution:Equivalent units of materials and transferred in = Units completed and transferred to next…

Q: Lincoln Corp. obtained the following information from its absorption costing accounting records:…

A: PERIOD COSTS - Period costs are that costs which are not directly related to the production of…

Q: ate the total cost to be assigned to ending wor rsion Total Cost per equivalent unit $3.00 $2.5 or…

A: The cost assigned to ending work in process is the equivalent units into cost per equivalent…

Q: For the Assembly Department, unit materials cost is S8 and unit conversion cost is $12. If there are…

A: Income statement: The income statement is one of the three primary financial statements used to…

Q: department are: Work in conversion cost) Units received from Dep't. 1 Units transferred to Dep't 3…

A: Solution: Units % Conversion EUP-Conversion units in process, beg. 1400 25% 350 Units…

Q: The Smelting Department of Lily Company has the following production and cost data for September.…

A: Transferred out = Cost of Beginning work in process + Costs to complete the beginning work in…

Q: At Sandhill Company, there are 775 units of ending work in process that are 100% complete as to…

A: Concversion cost refers to the cost incurred in converting raw material into finished goods…

Q: Baden Company has gathered the following information. Units in beginning work in process 0…

A: Process costing is the costing method, which surmises the process costs for a particular process and…

Q: Compute the equivalent units of production of conversion cost: a. In Process, beginning (3/5…

A: The concept of Equivalent units of production is used process costing to calculate the cost of…

Q: The prime cost for company XYZ was $28,000, while the conversion cost was $35,000. Assume that…

A: The question is multiple choice question. Required Choose the Correct Option.

Q: Department W had 2,940 units, one-third completed at the beginning of the period; 13,800 units were…

A: Formula: Total Number of units = Beginning Units + Units started and completed + Ending work in…

Q: Vista Company has gathere following information. All materials are added at the beginning of the…

A: Equivalent Production is representing the production of a process in terms of completed units. In…

Q: Indigo Company uses weighted-average process costing and adds materials at the beginning of the…

A: Units completed and transferred are 100% complete with respect to materials and conversion Ending…

Q: 1. Cost per Equivalent Unit for Direct Labor is calculated by dividing $......... by 550,000 DL…

A: Honor Code - Since you have posted a question with multiple sub-parts, we will provide the solution…

Q: In the manufacture of 9,600 units of a product, direct materials cost incurred was $177,300, direct…

A: Lets understand the basics. Conversion cost is a cost of converting raw material into finished…

Q: The total estimated manufacturing overhead of $260,000 was comprised of $160,000 for materials…

A: Activity-based costing is a costing approach in which a company's activities are identified and the…

Q: In the manufacture of 9,800 units of a product, direct materials cost incurred was $175,200, direct…

A: Total conversion cost = Direct labor cost + Applied factory overhead Direct labor cost = $112,900…

Q: If the cost of the beginning work in process is $67, 000 direct materials cost is $357, 000 direct…

A: The cost of goods manufactured is the total expense incurred in turning raw materials into finished…

Q: what is the total costs transferred from Department B to Department C? P1,821,600 P1,031,900…

A: A manufacturing concern involved in producing a bulk quantity of homogeneous products uses Process…

Q: Using a Predetermined OH rate of 150% Work in Process Beginning = 35400 Direct Materials = 55,600…

A: Cost of goods manufactured means the cost incurred for manufacturing the finished product. Cost of…

Q: The following table was taken from Firm X's Production Cost Report: Completed and transferred…

A: FIFO: FIFO stands for First-In, First-Out. In this method inventory purchased first will be sell…

Q: Glassworks Inc. produces two types of glass shelving, rounded edge and squared edge, on the same…

A: ACTIVITY-BASED COSTING It is a method of costing that identifies activities in a corporation and…

Q: At Trent Company, there are 800 units of ending work in process that are 100% complete as to…

A: Given, Trent Company Units= 800. Cost of materials= $3. Total costs assigned= $6000(800 Units).

Q: Lezdodis corporation manufactures a product in three departments. department are: Data related to…

A: Solution: Units % Conversion EUP-Conversion units in process, beg. 1400 25% 350 Units…

Q: Using the reciprocal method, the applied factory overhead of the assembly department if it used…

A: Factory overhead means the cost which is incurred in factory but not directly linked with…

Q: Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are…

A: EQUIVALENT UNITS OF PRODUCTION Equivalent units of production are a concept used to understand how…

Q: 2. Equivalent Units or Material is calculated by 500,000 units Transferred Next Department…

A: Under process costing, units transferred to next process and ending work-in-process units are taken…

Q: Direct materials cost per equivalent unit: Conversion cost per equivalent unit: 00 per ton per ton

A: Solution:- Calculation of Direct materials cost per equivalent units and Conversion cost per…

Q: Company C transfers 3,784 units from the packaging department to finished goods. The material cost…

A: Formula: Total cost per unit = Direct material cost + Conversion cost Sum of both material and…

Q: The cost of materials for beginning work-in-process is $10,400. Materials costs added during the…

A: EQUIVALENT UNITS OF PRODUCTION Equivalent Production is represents the production of a process in…

Q: n the manufacture of 9,800 units of a product, direct materials cost incurred was $174,800, direct…

A: Conversion cost is the manufacturing cost incurred to covert the raw material into the finished…

Q: A production department reports the following conversion costs. Equivalent units of production for…

A: Equivalent units can be considered as the work in process or the amount of work that is partially…

Q: The cost of direct materials transferred into the Rolling Department of Jabari Company is $520, 800.…

A: Cost per equivalent unit is calculated by dividing total costs by the number of equivalent units of…

Q: The following assumptions should be used in completing this lab: (1) Weighted-average method. (2)…

A: Under weighted average method of equivalent units of production, units transferred to next…

Q: EX 17-11 Equivalent units of production and related costs Obj. 2 units The charges to Work in…

A: Since you have posted multiple questions, we will solve the first question you. To get the remaining…

Q: The following data relates to departments A, B, and C of a company; machine hours! e 1500hours,…

A: Overhead cost for department A= Allocated rent expense (based on floor space) +allocated…

Q: Conversion cost per equivalent unit equals total conversion costs for the period divided by total…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of…

A: Under process costing, it is very important to determine the cost per equivalent unit in order to…

Q: Company C transfers 3,199 units from the packaging department to finished goods. The material cost…

A: Given: Units transfer from packaging department to finished goods =3199Material cost per unit…

Q: The Truman Company manufactures a product in a single process. The following information is…

A: PROCESS COSTING Process Costing is a costing system which is used by those companies that usually…

Concept explainers

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit. Overhead expenses depend upon the nature of the business operations.

Question

$516,301
$1,770,842.
$571,709
$943,699.
$888,291
6

Fans Company has two service departments - product design and engineering support, and two production departments-assembly and finish
The distribution of each service department's efforts to the other departments is shown below:
SERVICE DEPARTMENT
Product Design
Engineering Support
The direct operating costs of the departments (including both variable and fixed costs) were as follows:
Product Design
Engineering Support
Assembly
Finishing
SERVICES PROVIDED TO
Design
08
20%
Multiple Choice
$ 145,000
$ 155,000
$ 440,000
$ 720,000
Support
10%
08
Assembly
30%
45%
Finishing
60%
35%
The total cost accumulated in the assembly department using the reciprocal method is (calculate all ratios and percentages to 4 decimal places, f
example 33.3333%, and round all dollar amounts to the nearest whole dollar):

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Indroduction

VIEW

Step 2: Computation

VIEW

Solution

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Vicerelandu, Inc. manufactures X, Y, and Z from a joint process. Joint product costs were P60,000. Additional information are as follows:(see pic) 1. Assuming that joint costs are allocated using the physical measures (units produced) approach, what were the total costs allocated to product X ________________________ Y ______________________ Z ______________________2. Assuming that joint product costs are allocated using the relative sales value at split-off approach, what were the total costs allocated to product X_________________________ y ______________________ Z ______________________
A production department reports the following conversion costs. Equivalent units of production for conversion total 357,000 for this period. Calculate the cost per equivalent unit of production for conversion. The company uses the weighted-average method. Cost of beginning work in process Costs added this period Multiple Choice о O O O O $2.90. $3.65. $0.42. $3.90. $0.75. 268,000 1,124,300
Complete the following (assume $93,500 of overhead to be distributed): (Round the "Ratio" to 2 decimal places.) Amount of Overhead Square Feet Ratio Allocated Department A Department B 15,040 31,960
In process, beg (3/5 additional work to be done) 10,125 unitsFinished and Transferred units 15,750 units(Of the units started in process, ½ represents work in process at the end which were 20% completed during the current period)Compute the equivalent units of production of conversion cost using Average
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 October 2021, Cruz Company presented the following costs on three processes: In October, what is the total costs transferred from Department A to Department B? P1,031,900 P 880,520 P 812,380 P 988,000
Please help me with show all calculation thanku
The cost reports of Firm H show the details of beginning work-in-process, units completed and transferred, and ending work-in-process as below: Particulars Beginning work-in-process (15% completed for materials and 5,000 conversion) Number of units Units completed and transferred 34,000 Ending work-in-process (100% complete for materials and 50% 3,600 complete for conversion) Determine the difference in equivalent units for material as per the weighted average cost method and first-in-first-out method. A) The difference in equivalent units is 2,550 units. B) The difference in equivalent units is 5,000 units. C) The difference in equivalent units is 375 units. D) The difference in equivalent units is 750.
Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Blackrock Steel Company is $625,500. The conversion cost for the period in the Rolling Department is $157,680. The total equivalent units for direct materials and conversion are 13,900 tons and 13,140 tons, respectively.Determine the direct materials and conversion costs per equivalent unit. Direct materials cost per equivalent unit:Conversion costs per equivalent unit:per ton
A-1
In the manufacture of 9,700 units of a product, direct materials cost incurred was $171,100, direct labor cost incurred was $108,700, and applied factory overhead was $44,500. The total conversion cost is a. $324,300 b. $153,200 c. $44,500 d. $171,100
1. What is the total Conversion Cost per Equivalent Unit? 2. Equivalent Units or Material is calculated by 500,000 units Transferred Next Department plus......Units of Ending Work in Process times 80% complete with respect to the material. 3. Equivalent Units for Direct Labor is calculated by 500,000 units Transferred to Next Department plus ...... Units of Ending work in Process multiply by 50% complete with respect to the direct labor. 4.
A production department reports the following conversion costs. Equivalent units of production for conversion total 501,000 for this period. Calculate the cost per equivalent unit of production for conversion. The company uses the weighted-average method. Cost of beginning work in process Costs added this period 251,000 851,200