Using the following terms and following the format in the textbook, prepare the worksheet to show the calculation to answer the question: Units completed and Cost per material Cost per conversion transferred out Equivalent units conversion Beginning inventory Units started in production Total units to account for Total work in process Ending inventory Units transferred in Cost per unit conversion Costs to account for Question: How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 units were started, and 57,000 units were completed and transferred out? PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Term Units

Using the following terms and following the format in the textbook, prepare the worksheet to show the calculation to answer the question: Units completed and Cost per material Cost per conversion transferred out Equivalent units conversion Beginning inventory Units started in production Total units to account for Total work in process Ending inventory Units transferred in Cost per unit conversion Costs to account for Question: How many units must be in ending inventory if beginning inventory was 15,000 units, 55,000 units were started, and 57,000 units were completed and transferred out? PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Term Units

Name: Using the following terms and following the format in the textbook, p
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Using the following terms and following the format in the textbook, prepare the worksheet to show the calculation to answer thequestion:Units completed andCost per materialCost per conversiontransferred outEquivalent units conversionBeginning invent

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

A process manufacturer that uses the weighted-average method reports the following. Beginning work in process inventory Units completed and transferred out Ending work in process inventory Equivalent units of production for conversion are: Multiple Choice O 125,200. Units 38,000 108,000 43,000 Conversion Percent Complete 80% 40%
Assume that 6,000 units were in beginning WIP inventory, 36,000 were started, 32,000 were completed, and 10,000 were in ending WIP inventory. Direct materials are added at the beginning of the process. What are the total equivalent units for direct materials?
How to find: * Cost of beginning work in process inventory completed this period. *Cost of units transferred to finished goods during the period. * Cost of ending work in process inventory. * Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 18,540 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $2.1 296,100 Direct labor 192,900 Factory overhead 75,000 Bal. ? units, 70% completed ?
I need to finish with these three questions and need help please. Journalize the entries for costs transferred from Milling to Sifting and the costs transferred from Sifting to Packaging. 2. Determine the increase or decrease in the cost per equivalent unit from June to July for direct materials and conversion costs. 3.Discuss the uses of the cost of production report and the results of part (c).
Baron Corporation has two sequential processing departments: Assembly and Shaping. The Shaping Department reports the following information Conversion costs are applied evenly throughout the process. Beginning WIP Inventory Transferred-in costs in beginning WIP Inventory Direct materials cost in beginning WIP Inventory Conversion costs in beginning WIP Inventory Units transferred-in Transferred-in costs Units completed Costs added: direct materials Costs added: conversion costs Ending WIP Inventory (40% complete for materials and 30% complete for conversion) The total cost of units in ending WIP Inventory-Shaping would be closest to A. $54,720. OB. $341,400. OC. $54,728. to $235,000 9,000 units $113,200 $29.500 $22,750 56,000 units $541,300 47,000 $171,120 $249,570 18,000 units
Solve it
Provide Correct answer
Units in beginning WIP Inventory completed this period Units Started and completed this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period Costs in beginning WIP Inventory (from last period) Costs added to WIP Inventory this period Total costs to account for Total cost of units completed $ Step 3: Account for costs Total number of units completed Physical Units What is The Skysong Company's total cost units completed? Actual unit cost for units completed $ 1,500 15,100 How many total units did the company complete this period? Total cost per equivalent unit this period $ The actual cost for the units completed this period is 500 17,100 Total Costs The Skysong Company uses the FIFO method of process costing. $1,155 26,895 $28,050 % Added This Period DM 100% 100% $755 0% 8.580 $9,335 DM Equivalent Units Equiv. Units 15,100 500 15,600 Conversion Costs $400 What was the actual per-unit cost for those units completed? (Round answer…
Provide Answer with calculation
Requirement 2. Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Blending Department ending Work-in-Process Inventory. Complete the Production Cost Report that you began in Requirement 1 by calculating the costs per equivalent unit in this step, and then by calculating the the total cost of units completed and transferred out and of units in ending inventory in the following step. (Complete all input fields. Enter a "0" for any zero balances. Round the cost per equivalent unit amounts to the nearest cent and all other amounts to the nearest dollar. Abbreviation used: EUP = equivalent units of production.) COSTS Costs to account for: Step-by-Step Painting Production Cost Report - Blending Department (Partial) Month Ended May 31 Total costs to account for Cost per equivalent unit Direct Materials Conversion Costs Total Costs
6. Using the following terms, prepare the worksheet to show the calculation to answer the question: Units completed and transferred out Cost per material Cost per conversion Equivalent units conversion Beginning inventory Units started in production Total units to account for Total work in process Ending inventory Units transferred in Total units accounted for Costs to account for Question: Using the weighted-average method, compute the equivalent units of production for a new company that started 85,000 units into production and transferred 67,000 to the second department. Assume that beginning inventory was 0. Conversion is considered to occur evenly throughout the process, while materials are added at the beginning of the process. The ending inventory for Equivalent Units: Conversion is 9,000 units. PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Units to Account For: Units Units Accounted For: Total Units Material Units…