Uring Co. operates free departments With the following pr ses: Cutting-This department adds 60% of the materials at the start of the process, 40% when the proces is 4/5 completed, and applies labor and overhead uniformly to production. Grinding - This department adds all the materials at the end of processing, applying conversion cost evenly throughout the process. Mixing This department adds 30% of the materials at the beginning of processing, 30% when processing is completed, and 40% at the end of the process. It applies conversion costs evenly throughout the process. Production data for the month of March of the current year follows: Quantity data: Cutting Grinding Mixing WIP, beg 10,000 8,000 6,000 Stage of Completion 3/4 4/5 1/3 Transferred to next Dep't. 42,000 44,000 46,000 WIP, end 8,000 6,000 4,000 Stage of Completion 2/5 2/3 3/4 Cost data: WIP, beg P116,100 P166,800 P223,800 Factory costs: Materials 244,800 132,000 419,400 Direct labor 226,200 249,600 282,000 FOH 113,100 124,800 141,000 Required: Prepare the cost of production report for each of the three departments.

Uring Co. operates free departments With the following pr ses: Cutting-This department adds 60% of the materials at the start of the process, 40% when the proces is 4/5 completed, and applies labor and overhead uniformly to production. Grinding - This department adds all the materials at the end of processing, applying conversion cost evenly throughout the process. Mixing This department adds 30% of the materials at the beginning of processing, 30% when processing is completed, and 40% at the end of the process. It applies conversion costs evenly throughout the process. Production data for the month of March of the current year follows: Quantity data: Cutting Grinding Mixing WIP, beg 10,000 8,000 6,000 Stage of Completion 3/4 4/5 1/3 Transferred to next Dep't. 42,000 44,000 46,000 WIP, end 8,000 6,000 4,000 Stage of Completion 2/5 2/3 3/4 Cost data: WIP, beg P116,100 P166,800 P223,800 Factory costs: Materials 244,800 132,000 419,400 Direct labor 226,200 249,600 282,000 FOH 113,100 124,800 141,000 Required: Prepare the cost of production report for each of the three departments.

Name: Mahaba Manufacturing Co. operates three departments with the followin
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: Mahaba Manufacturing Co. operates three departments with the following processes:Cutting - This department adds 60% of the materials at the start of the process, 40% when the processis 4/5 completed, and applies labor and overhead uniformly to produ

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

In the Shaping Department of Rollins Company the unit materials cost is $5.00 and the unit conversions cost is $3.00. The department transferred out 12,000 units and had 1,500 units in ending work in process 20% complete. If all materials are added at the beginning of the process, the total cost to be assigned to the ending work in process is 2,400 7,500 8,400 12,000.I need a help please.
Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two service departments, Repair and Quality Control. Direct costs for each department and the proportion of service costs used by the various departments for the month of March follow: Department Fabricating Finishing Repair Quality Control Proportion of Services Us by Quality Direct Costs Repair $ 130,600 90, 200 38,400 71, 600 0 0.8 Control Fabricating Finishing 0.2 0 Required: Use the step method to allocate the service costs, using the following: 0.5 0.1 a. The order of allocation starts with Repair. b. The allocations are made in the reverse order (starting with Quality Control). 0.3 0.1
Lovell Variety Seeds mass produces wildflower seed packs. Relevant information used for the process costing system is provided below: Beginning physical units 2,300 Physical units started 22,600 Units in ending WIP 9,500, 40% complete Beginning costs $3,100 Added direct materials costs $12,000 Added direct labor costs $19,500 Added manufacturing overhead costs $8,600 What is the costs completed and transferred out? Please round your answer to the nearest whole dollar.
The Converting Department of Soft Touch Towel and Tissue Company had 840 units in work in process at the beginning of the period, which were 60% complete. During the period, 17,600 units were completed and transferred to the Packing Department. There were 960 units in process at the end of the period, which were 75% complete. Direct materials are placed into the process at the beginning of production. Soft Touch Towel and Tissue Company Number of Equivalent Units of Production Whole Units Direct Materials Conversion Equivalent Equivalent Units Units Inventory in process, Beginning Started and Completed Transferred to Packing Department Inventory in process ending Tatal
Moon Company produces baseball bats and cricket paddles. It has two departments that process all products – Cutting Department and Finishing Department. In Finishing Department, direct materials (DM) are added at the start of the process and conversion costs (CC) are added evenly during the process. Company is using Weighted Average method for the Finishing Department. During July, beginning work in process in the Finishing Department was 80% complete as to conversion. Beginning inventories included $30,800 for transferred-in costs, $13,200 for direct materials, and $27,500 for conversion costs. Ending inventory was 30% complete as to CC. Additional information about the Finishing Department follows: Finishing Beginning work-in-process units 26,400 Units transferred in this period 74,800 Units completed & transferred out 79,200 Ending work-in-process units 22,000 Material costs added $37,400 Conversion costs $75,460…
Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 6,000 100% 40% Units started this period 43,200 Units completed and transferred out 44,400 Ending work in process inventory 4,800 100% 80% Beginning work in process inventory Direct materials $ 39,600 Conversion 443,880 $ 483,480 Costs added this period Direct materials 993,600 Conversion 4,331,880 5,325,480 Total costs to account for $ 5,808,960 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200.Required:1. Prepare the Forming department’s production cost report for May using FIFO.2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly.
McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete. Conversion costs are added evenly during the assembly department's process. McKnight uses the weighted-average method of process costing. Consider the following data for the assembly department in April: (Click the icon to view the data.) Required Work in process, ending Accounted for Equivalent units of work done to date Now summarize the total costs to account for. Work in process, beginning Costs added in current period Total costs to account for Completed and transferred out Work in process, ending IZU 570 Total costs accounted…
INTEGRITY Company uses process costing. The materials are added when the process in 50% complete and conversion costs are added uniformly throughout the process. The following are the information during the period: Physical Units: Work in Process, beginning (60% complete) Started during the period Work in Process, ending (45% complete) Costs: Work in Process, beginning Materials Conversion Costs Cost added during the period: Materials Conversion Costs Determine the following: 6. How much is the total costs to account for? 30,000 200,000 50,000 67,800 29,300 579,000 248,900 7. Using WAVE, what is the EUP for materials? 8. Using WAVE, how much is the cost of completed and transferred? 9. Using FIFO, what is the EUP for conversion cost? 10. Using FIFO, how much is the cost of work in process, ending?
The Mixing Department of Yummy FoodsYummy Foods had 60,000equivalent units of materials for October.Of the 60,000 units, 20,000 units were completed and transferred to the next department, and 40,000 units were 50% complete. Yummy Foods'sYummy Foods's costs per equivalent unit of production are $ 0.70 for direct materials and $0.45 for conversion costs. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the process and the company uses the weighted-average method. Calculate the cost of the 20,000 units completed and transferred out and the 40,000 units, 50% complete, in the ending Work-in-Process Inventory.
Eagles Ltd. uses process costing in its Fabricating Department. At the beginning of October, it had 12,000 units in beginning work-in-process that were 40% complete with respect to conversion. During October, it put 87,000 units into production and completed 89,000 good units. On October 31, there were 3,000 units in ending work- in-process that were 70% complete with respect to conversion. Direct materials are added at the beginning of the process. Inspection occurs at the end of the process, and normal spoilage is 6% of good output. Costs related to the beginning inventory were $36,800 for direct materials and $28,600 for conversion costs. During the month, the company issued $280,000 of direct materials and incurred $599,400 of conversion costs. Assuming Eagles uses the weighted average method of process costing, the cost per equivalent unit for direct materials and conversion costs, respectively, are O a. $3.20; $6.40 b. $3.44; $6.89
Haas Company manufactures microchips on a highly automated assembly line. Haas's costing system uses two cost categories, direct materials, and conversion costs. Direct Materials are added at the beginning of the production process. Conversion costs are added evenly throughout the production. Cost Beginning WIP 20,000 Units Direct Materials $126,600 $77,150 Conversion (35% Complete) Started 72,000 Units $604,800 $385,090 Direct Materials Conversion Ending WIP 14,000 Units (60% Complete) Calculate Haas's physical flow of units, equivalent units, cost plequivalent unit and assign costs to Finished Goods and Ending Work-in-Process Inventories using the Weighted Average method of processing costing.
JYD Company uses two departments to produce a detergent. It uses the weighted average process costing and has just completed the production for the month of April. Relevant data for its two departments follow: Mixing Department Finishing Department Quantity units: Work in process, beginning 1,000 900 Stage of completion 50% 50% Started in process 3,000 0 Transferred to next department 3,500 3,500 Work in process, ending 500 600 Stage of completion 20% 50% Costs data: In process, beginning Cost from preceding department - $1,130 Materials $800 1,800 Labor 1,200 3,200 Overhead 1,000 2,000 Current costs Cost from preceding department - $? Materials $2,800 $5,580 Labor 4,200 5,000 Manufacturing Overhead 3,320 2,100 Required: a. The cost of beginning Work in process in Mixing Department is b. The cost of…