The unit cost per EUP computed under weighted average were as follows: Materials - P7 Conversion costs - P21 Transferred - in - P35 Materials are introduced at the beginning of the process in the 2nd of three departments. There were 4,000 units (40% complete as to conversion costs) in process at the end of the month while 20,000 units were transferred to the next department. How much is the total cost to be accounted for?

The unit cost per EUP computed under weighted average were as follows: Materials - P7 Conversion costs - P21 Transferred - in - P35 Materials are introduced at the beginning of the process in the 2nd of three departments. There were 4,000 units (40% complete as to conversion costs) in process at the end of the month while 20,000 units were transferred to the next department. How much is the total cost to be accounted for?

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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Department W had 2,580 units, one-third completed at the beginning of the period; 12,000 units were transferred to Department X from Department W during the period; and 1,050 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. The total number of units to be assigned cost on the cost of production report for Department W is Oa. 13,530 units Ob. 13,050 units Oc. 12,000 units Od. 14,580 units
2. Department A had 16,000 units in the beginning work in process that is 45% with respect to material and 80% completed with respect to conversion costs. 12,000 units were added during the period; 20,000 units were completed and transferred and the remaining units in ending work-in-process were 65% completed with respect to materials and 35% completed with respect to conversion cost. The following additional information relate to the cost incurred: Work in Process (Material is $750,000; Conversion $1,250,000) Cost Added this period (Material is $2,000,000; Conversion $1,000,000) Required: Given the quantity schedule that has been prepared for you below, a. What is the cost of units completed and transferred? b. What is the cost of the units in ending work-in-process? Quantity Schedule (Weighted Average Process Costing Method) WIP beginning Units added this period Units to be accounted for Completed and Transferred Ending WIP Material 65%; Conversion 35% Total units accounted for Total…
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Use this information about Department G to answer the question that follows. Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period, 3,000 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period $40,000 Costs added during period: Direct materials (10,400 units at $8) 83,200 Direct labor 63,000 Factory overhead 25,000 All direct materials are added at the beginning of the process, and the first-in, first-out cost flow method is used. Determine the total cost of the inventory in process at the end of the period. Round the unit cost computation to the nearest cent. a. $21,432 b. $16,163 c. $28,932 d. $35,670
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