Use the following information for the Quick Study below. (Algo) Skip to question [The following information applies to the questions displayed below.] BOGO Incorporated has two sequential processing departments, Roasting and Mixing. BOGO uses the FIFO method. Production unit information for the Roasting department follows. Roasting—Direct Materials Units Percent Complete Beginning work in process inventory 2,240 75% Units started and completed 15,400 Ending work in process inventory 3,400 85% Production cost information for the Roasting department for the same period follows. Beginning work in process inventory (direct materials) $ 2,770 Direct materials added this period 31,900 QS 16-21A (Algo) FIFO: Computing equivalent units and cost per EUP LO C2 Compute the Roasting department’s (a) equivalent units of production for direct materials and (b) cost per equivalent unit of production for direct materials.

Use the following information for the Quick Study below. (Algo) Skip to question [The following information applies to the questions displayed below.] BOGO Incorporated has two sequential processing departments, Roasting and Mixing. BOGO uses the FIFO method. Production unit information for the Roasting department follows. Roasting—Direct Materials Units Percent Complete Beginning work in process inventory 2,240 75% Units started and completed 15,400 Ending work in process inventory 3,400 85% Production cost information for the Roasting department for the same period follows. Beginning work in process inventory (direct materials) $ 2,770 Direct materials added this period 31,900 QS 16-21A (Algo) FIFO: Computing equivalent units and cost per EUP LO C2 Compute the Roasting department’s (a) equivalent units of production for direct materials and (b) cost per equivalent unit of production for direct materials.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...

See similar textbooks

Use the following information for the Quick Study below. (Algo)

Skip to question

[The following information applies to the questions displayed below.]

BOGO Incorporated has two sequential processing departments, Roasting and Mixing. BOGO uses the FIFO method. Production unit information for the Roasting department follows.

Roasting—Direct Materials	Units	Percent Complete
Beginning work in process inventory	2,240	75%
Units started and completed	15,400
Ending work in process inventory	3,400	85%

Production cost information for the Roasting department for the same period follows.

Beginning work in process inventory (direct materials)	$ 2,770
Direct materials added this period	31,900

QS 16-21A (Algo) FIFO: Computing equivalent units and cost per EUP LO C2

Compute the Roasting department’s

(a) equivalent units of production for direct materials and
(b) cost per equivalent unit of production for direct materials.

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 by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates: Other data for the Plate Cutting Department are as follows: Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for: a. Direct materials b. Conversion costs 3. Calculate unit costs for: a. Direct materials b. Conversion costs c. Total manufacturing 4. Provide the following information: a. The total cost of units transferred out b. The journal entry for transferring costs from Plate Cutting to Welding c. The cost assigned to units in ending inventory
Reducir, Inc., produces two different types of hydraulic cylinders. Reducir produces a major subassembly for the cylinders in the Cutting and Welding Department. Other parts and the subassembly are then assembled in the Assembly Department. The activities, expected costs, and drivers associated with these two manufacturing processes are given below. Note: In the assembly process, the materials-handling activity is a function of product characteristics rather than batch activity. Other overhead activities, their costs, and drivers are listed below. Other production information concerning the two hydraulic cylinders is also provided: Required: 1. Using a plantwide rate based on machine hours, calculate the total overhead cost assigned to each product and the unit overhead cost. 2. Using activity rates, calculate the total overhead cost assigned to each product and the unit overhead cost. Comment on the accuracy of the plantwide rate. 3. Calculate the global consumption ratios. 4. Calculate the consumption ratios for welding and materials handling (Assembly) and show that two drivers, welding hours and number of parts, can be used to achieve the same ABC product costs calculated in Requirement 2. Explain the value of this simplification. 5. Calculate the consumption ratios for inspection and engineering, and show that the drivers for these two activities also duplicate the ABC product costs calculated in Requirement 2.
Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Direct MaterialsConversion Percent Percent Complete Complete 40% Units 5,700 100% 41,040 42,180 4,560 100% $ 37,620 421,686 $ 459,306 943,920 4,115,286 5,059,206 5,518,512 olem 3-4A (Algo) FIFO: Production cost report LO C2, P4 $ 80% me that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200. ired: Prepare the Forming department's production cost report for May using FIFO. Prepare…
Use the following information for the Problems below. (Algo) Skip to question [The following information applies to the questions displayed below.] 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 4,650 100 % 40% Units started this period 33,480 Units completed and transferred out 34,410 Ending work in process inventory 3, 720 100 % 80% Beginning work in process inventory Direct materials $ 30,690 Conversion 344,007 S 374, 697 Costs added this period Direct materials 770,040 Conversion 3,357, 207 4,127,247 Total costs to account for $ 4,501, 944 Problem 16-3A (Algo) Weighted average: Production cost report LO P2, P4 Required: Prepare the Forming department's production cost report for May using the weighted average method. Prepare the May 31 journal entry to transfer the cost of units from…
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method and it reports the following unit data for the Forming department. Units completed in the forming department are transferred to the painting department. Direct Materials Percent Complete 60% Conversion Percent Complete 40% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 30,000 400,000 390,000 40,000 85% 35% Production cost information for the forming department follows. Beginning work in process Direct materials $ 50,800 19,300 Conversion $ 70,100 Costs added this period Direct materials 1,539,200 1,047,260 2,586,460 $ 2,656,560 Conversion Total costs to account for Exercise 16-6 (Algo) Weighted average: Cost per EUP and costs assigned to output LO P1 a.…
Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method and it reports the following unit data for the Forming department. Units completed in the forming department are transferred to the painting department. Direct Materials Percent Complete 60% Conversion Percent Complete 40% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 30,000 400,000 390,000 40,000 85% 35% Production cost information for the forming department follows. Beginning work in process Direct materials $ 50,800 19,300 $ 70,100 Conversion Costs added this period Direct materials 1,539,200 1,047,260 2,586,460 $ 2,656,560 Conversion Total costs to account for Exercise 16-6 (Algo) Weighted average: Cost per EUP and costs assigned to…
Use the following information for the Quick Study below. (Algo) [The following Information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 11,300 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Units Total costs accounted for 3,000 11,300 10,000 4,300 Percent Complete for Direct Materials 70% CARLBERG COMPANY $ 1,533 761 11,907 21,819 80% QS 16-12 (Algo) Weighted average: Assigning costs to output LO P1 Assign costs to the Assembly…
Please help. Thank you!
Meman
Please refer to the pictures for parts A and B. Part C is below: Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $0.00 0.00 Conversion $0.00 0.00 Total costs accounted for Fields Company
Daffy Corporation has two processing departments-Mixing and Cooking. Daffy uses the FIFO method. The following information relates to the Mixing Department: Mixing Department Beginning work in process inventory Units started into production during the period Units transferred out during the period Ending work in process inventory Units 200 3,000 2,600 600 2,640 2,720 O 2,750 2,840 Percentage Complete Materials 55% 25% Knowledge Check 01 What is the number of equivalent units of production with respect to materials during the period? Conversion 60% 40%
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Total units Units 67,000 886,000 755,000 198,000 Units $ 433,615 111,700 2,901,885 2,122,300 Direct Materials Percent Complete 100% 100% Percent Complete Required: 1. Compute equivalent units of production for both direct materials and conversion. Conversion Percent Complete 80% $ 545,315 5,024, 185 $ 5,569,500 Equivalent Units of Production (EUP) - Weighted…