Using the weighted average method, you are provided the following information:Beginning WIP 500 needing 25% yet to completeUnits started and completed and moved to the next process- 1000 unitsEnding WIP of 500 units that are 50% complete.What is your equivalent units of production for the period?137517501625

Beginning Work in Process (WIP):In this scenario, we start with 500 units in beginning WIP.These…

Answered: Using the weighted average method, you…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 28E: Assume that the inspection activity has an expected cost of 120,000. Expected direct labor hours are...

See similar textbooks

Similar questions

Assume that a company has the following data for one of its manufacturing cells: Theoretical velocity – 40 units per hour; Productive minutes available (per year) – 1,200,000; Annual conversion costs - $4,800,000; and Actual velocity – 30 units per hour. choose the correct letter of answer Calculate the actual conversion cost per unit using actual cycle time and the standard cost per minute.a.$6b.$8c.$7d.$3 calculate the ideal conversion cost per unit using theoretical cycle time and the standard cost per minute.a.$6b.$8c.$7d.$3
Consider the below diagram showing production process of Company XYZ: Process A 1.25/hour Process B 2.75/hour Process C Process D 0.5/ minute 3.25/ hour What will be the rate of the production for the company? a) 1.25 per hour b) 3.25 per hour c) 7.75 per hour d) 30 per hour
Craig, Inc., has provided the following information for one of its products for each hour of production: Actual velocity: 100 units (per hour) Move time: 20 minutes Inspection time: 18 minutes Rework time: 12 minutes Required: Calculate MCE. Comment on its significance.
Fill in the Blank Question E A manufacturing company has a production where one-half of the materials are added at the beginning of Process 1. Conversion costs are 20% in Process 1. If 600 units are started, the EUP with respect to materials are O
s
A time standard was set as 0.20 hour per unit based on the 20th unit produced. Assume the task has a 60 percent learning curve. What would be the expected time of the 40th, 80th, and 160th units? Use the table below to answer the question.
Beginning work in process includes 400 units that are 20% complete with respectto conversion and 30% complete with respect to materials. Ending work in process includes 200 units that are 40% complete with respect to conversion and 50%complete with respect to materials. If 2,000 units were started during the period,what are the equivalent units of production for the period according to the weightedaverage method?a. Conversion equivalent units 2,280 units; Material equivalent units 2,100 unitsb. Conversion equivalent units 1,980 units; Material equivalent units 2,080 unitsc. Conversion equivalent units 2,480 units; Material equivalent units 1,980 unitsd. Conversion equivalent units 2,280 units; Material equivalent units 2,300 units
To make a batch of 1,000 units of a certain item, it is estimated that 120 direct labor hours are required at a cost of $10/hour. Direct material costs are estimated at $1,500 per batch. The overhead costs are calculated based on an overhead rate of $7.50 per direct labor hour. The item can be readily purchased from a local vendor for $4 per unit. a. Should the item be made or purchased? b. Over what range of overhead rate is your answer in part a valid?
Delores Enterprises uses weighted-average process-costing to value production. At the end of the most recent period, Delores had 7,000 units in production. These units were 60% complete. Material X is introduced at the beginning of the process; material Y is introduced at the end of the process; and conversion costs are incurred evenly throughout production. Equivalent-unit production costs follow.Material X: $12.50Material Y: $2.00Conversion cost: $6.60The cost of the Delores' work-in-process inventory at the end of the period is: Select one: a. $88,620. b. $115,220. c. $123,620. d. $147,700. e. None of the answers is correct.
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation.Production: 7,100 units finished and transferred out; 3,000 units started that are 100% complete as to materials and 20% complete as to conversion costs.Manufacturing costs: Materials $40,400; labor $20,600; overhead $39,460.Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to 0 decimal places, e.g. 125.)
Sunland Company uses the FIFO method to compute equivalent units. It has 4500 units in beginning work in process, 20% complete as to conversion costs and 50% complete as to materials costs, 65500 units started, and 5900 units in ending work in process, 30% complete as to conversion costs, and 80% complete as to materials cost. How much are the equivalent units for materials under the FIFO method? 65500 70000 O66570 O68650
Data obtained from Antanian Manufacturing Inc. for July 2020 are as follows:Assembly DepartmentBeginning WIP- 100% RM, 60% CC 2.000 unitEnding WIP- 90% RM, 25% CC 1.400 unitsUnit put in process 6.000 unitsLost units (end of process) 100 unitsSpoiled units (abnormal) 200 unitsCost of Beginning WIP:- RM $ 450,000- CC 550,000Current Manufacturing Costs:- RM $ 750,000- CC 1,150,000 Required: Prepare cost of production (COGM) report for Assembly Department by using weighted averagemethod of process costing!

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS