UnitsBeginning inventoryStarted during the month20,00075,000Total units to account for?Completed and transferred outEnding work in process70,000Total units accounted forWork in process completion %100%25%Material UnitsConversion UnitsTotalCompleted and transferred outEnding work in process70,00070,00070,000??Total units accounted for?Costs to account forMaterialsConversionTotal$ 3,500$19,500Beginning work in processTransferred in$16,000Incurred during the period$25,000$45,000$70,000Total costs to account for?Equivalent unitsCost per equivalent unit for department??Transferred-out costsEnd work in process: materialsEnd work in process: conversionEnd work in process: total??Total costs accounted for?

Name: UnitsBeginning inventoryStarted during the month20,00075,000Total uni
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: UnitsBeginning inventoryStarted during the month20,00075,000Total units to account for?Completed and transferred outEnding work in process70,000Total units accounted forWork in process completion %100%25%Material UnitsConversion UnitsTotalCompleted

Business

Accounting

Units Beginning inventory Started during the month Total units to account for Completed and transferred out Ending work in process 20,000 75,000 70,000 ? Total units accounted for ? Work in process completion % 100% 25% Material Units Conversion Units Total Completed and transferred out Ending work in process 70,000 70,000 70,000 ? ? ? Total units accounted for ? Costs to account for Beginning work in process Transferred in ncurred during the period Materials Conversion Total $ 3,500 $16,000 $19,500 $25,000 $45,000 $70,000 Total costs to account for ? ? ? Equivalent units Cost per equivalent unit for department ? ? Transferred-out costs End work in process: materials End work in process: conversion End work in process: total Total costs accounted for ? ? ? ? ?

Units Beginning inventory Started during the month Total units to account for Completed and transferred out Ending work in process 20,000 75,000 70,000 ? Total units accounted for ? Work in process completion % 100% 25% Material Units Conversion Units Total Completed and transferred out Ending work in process 70,000 70,000 70,000 ? ? ? Total units accounted for ? Costs to account for Beginning work in process Transferred in ncurred during the period Materials Conversion Total $ 3,500 $16,000 $19,500 $25,000 $45,000 $70,000 Total costs to account for ? ? ? Equivalent units Cost per equivalent unit for department ? ? Transferred-out costs End work in process: materials End work in process: conversion End work in process: total Total costs accounted for ? ? ? ? ?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Current Attempt in Progress Blossom Company has the following production data for January. Beginning Work in Process 0 Units Started into Production 8,670 Compute the physical units for January. Beginning Work in Process Inventory Started into production Total units to be accounted for Ending Work in Process % Complete as to Conversion Cost Units 1,180 30%
GROUPER COMPANY Molding Department Production Cost Report For the Month Ended May 31, 2022 Equivalent Units of Production Physical QUANTITIES Units Materials Units to be accounted for Work in process, May 1 7,360 Started into production 29,440 Total units to be accounted for 36,800 Units accounted for Completed and transferred out 32,200 Work in process, May 31 4,600 Total units accounted for 36,800 COSTS Unit costs Costs in May Materials $128,800 Conversion Costs Conversion Costs $148,580 Total $277,380
Cost of materials purchases on account Cost of materials requisitioned (includes $4,600 of indirect) $68,800 $51,800 Direct labor costs incurred $77,400 $97,600 $223,400 $151,800 Manufacturing overhead costs incurred, including indirect materials Cost of goods manufactured Cost of goods sold Beginning raw materials inventory Beginning work in process inventory Beginning finished goods inventory $15,100 $30,600 $33,700 Predetermined manufacturing overhead rate (as % of direct labor cost) 140% What is the balance in work in process inventory at the end of the year? A. $50,800 B. $19,540 C. $24,500 D. $40,160
Data Section: Work in process, beginning Units started during the month Work in process, ending Costs to account for. Beginning work in process Materials added Conversion costs incurred Total costs to be accounted for Beg. Work in process Started & Completed Ending Work in process Total Whole Units $ $ $ S Units 50,000 220,000 30,000 Total 100,000 176,000 597,600 873,600 Direct Mat. % Added During the Month Cost per equivalent unit Percent Conversion 30% 80% Direct Mat. Equiv. Units Direct Mat. Conversion% Added During the Month HINT: To find started and completed: Completed units - beginning inventory Started during the month - ending inventory Conversion Equiv. Units Conversion Beginning Inventory Cost assignment Direct Materials Conversion Total Amount reported on the balance sheet as Finished goods inventory Work in Process inventory
takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse Calculator A company started the month with 8,333 units in work in process inventory. It started 23,146 units and had an ending inventory of 9,322. The units were 100% complete to materials and 67% complete with conversion. How many units were transferred out during the period? Units transferred out Previous Next Email Instructor Submit Test for Grading All work saved. 5:18 PM 10/2/2020 arch O
svita
2
Provide answer
ces Beginning work in process inventory Units started this period Beginning work in process Direct materials Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Conversion Costs added this period Direct materials Conversion Total costs to account for Required A Required B Required C Units Costs of beginning work in process Costs added this period Total costs Equivalent units of production (from part a) Cost per equivalent unit of production 320,000 312,000 35,000 $ $ $ 40,000 16,100 Complete this question by entering your answers in the tabs below. 1,660,000 929,300 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming departm c. Using the weighted average method, assign costs to the forming department's output-specifically, its units…