Total cost of units transferred-out is: Bryan Company employs process costing system. A unit of product passes through two departments: Assembly and finishing before it is complete. Information regarding Assembly Department follow: Work-in-process, Feb 1 Spoiled units Started in Production 4,000 units 3,000 26,000 24,000 Transferred out Raw materials are added at the beginning of processing in the Assembly department without changing the number of units being processed. Work in Process on February 1 was 90% complete as to conversion while 4/5 converted on February 28. In the Assembly Department, inspection takes place when the units are 3/4 converted. The company usually experienced a 5% loss based on the completed units. Čost data for the month of February follow:

Total cost of units transferred-out is: Bryan Company employs process costing system. A unit of product passes through two departments: Assembly and finishing before it is complete. Information regarding Assembly Department follow: Work-in-process, Feb 1 Spoiled units Started in Production 4,000 units 3,000 26,000 24,000 Transferred out Raw materials are added at the beginning of processing in the Assembly department without changing the number of units being processed. Work in Process on February 1 was 90% complete as to conversion while 4/5 converted on February 28. In the Assembly Department, inspection takes place when the units are 3/4 converted. The company usually experienced a 5% loss based on the completed units. Čost data for the month of February follow:

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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Similar questions

When materials costs differ significantly among products in a value stream, the valuestream product cost is calculated by which of the following?a. Unit Materials Cost + Value-Stream Costs/Units Shippedb. Unit Materials Cost + Value-Stream Conversion Costs/Units Shippedc. Value-Stream Costs/Units Producedd. Value-Stream Costs/Units Shipped
Which of the following is not a method of cost absorption? (a) Percentage of direct material cost (b) Machine hour rate (c) Labour hour rate (d) Repeated distribution method
Direct labour cost is an element of_________ a. All of the given options b. Prime cost c. Conversion cost d. Factory overhead
Which of the following quantities is an example of an activity cost driver in activity-based costing? O A. number of direct labour hours O B. number of labour transactions O C. number of machine hours O D. all of the above
Explain the calculation of equivalent units of production.
The direct costs are: a. allocated to products b. traced to products c. absorbed by products d. apportioned to products/centres
Explain need for calculating more than one equivalent units of production.
Use the cost per equivalent unit to assign costs to the work completed during the period.
Prime cost is: * a. Combination of direct materials and direct labor b. Combination of direct materials and overhead c. Combination of direct labor and overhead d. Combination of indirect labor and overhead
A direct material standard cost is? The cost of direct materials that should be incurred to produce one unit of output or product. The cost of all materials and supplies used to produce one unit of output or product. The price that should be spent to purchase each unit of direct material for production. The amount of direct materials that should be used to produce one unit of output or product.
what is The weighted average method when it comes to allocating joint costs