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V. The Welding Department of Nagano Manufacturing Company has the following production and manufacturing cost data for August 2021. All materials are added at the beginning of the process (e.g 100 % complete as the DM) Beginning work in process Materials $ 18,000 Conversion costs 14,175 Materials Labor Overhead Manufacturing Costs QUANTITIES Units to be accounted for Work-in-process, Aug 1 (100% materials, 10% conversion costs) Started into production Total units Units accounted for Transferred out Work-in-process, Aug 31 (100% materials, 20% conversion costs) Total units COSTS Units costs Cost in August Equivalent units Unit costs Cost to be accounted for Work-in-process, August 1 Started into production Total costs Cost Reconciliation Table Cost accounted for Total costs Transferred out Work-in-process, August 31 Materials Conversion costs $ 32,175 180,000 35,100 69,965 NAGANO MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended August 31 Physical Units ? ? Beginning work in process Units transferred out Units started Ending work in process Production Data Equivalent Units Materials ? ? Materials $198,000 I Conversion Costs ? ? | Conversion Costs $119,240 15,000 units 1/10 complete 49,000 60,000 26,000 1/5 complete. Total $317,240 $? $ 32,175 285,065 317,240 $? H₂

V. The Welding Department of Nagano Manufacturing Company has the following production and manufacturing cost data for August 2021. All materials are added at the beginning of the process (e.g 100 % complete as the DM) Beginning work in process Materials $ 18,000 Conversion costs 14,175 Materials Labor Overhead Manufacturing Costs QUANTITIES Units to be accounted for Work-in-process, Aug 1 (100% materials, 10% conversion costs) Started into production Total units Units accounted for Transferred out Work-in-process, Aug 31 (100% materials, 20% conversion costs) Total units COSTS Units costs Cost in August Equivalent units Unit costs Cost to be accounted for Work-in-process, August 1 Started into production Total costs Cost Reconciliation Table Cost accounted for Total costs Transferred out Work-in-process, August 31 Materials Conversion costs $ 32,175 180,000 35,100 69,965 NAGANO MANUFACTURING COMPANY Welding Department Production Cost Report For the Month Ended August 31 Physical Units ? ? Beginning work in process Units transferred out Units started Ending work in process Production Data Equivalent Units Materials ? ? Materials $198,000 I Conversion Costs ? ? | Conversion Costs $119,240 15,000 units 1/10 complete 49,000 60,000 26,000 1/5 complete. Total $317,240 $? $ 32,175 285,065 317,240 $? H₂

Cornerstones of Cost Management (Cornerstones Series)
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...
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V. The Welding Department of Nagano Manufacturing Company has the following production and manufacturing cost data for August 2021. All materials are added at the beginning of the process (e.g 100% complete as the DM) Beginning work in process Materials Conversion costs Materials Labor Overhead Manufacturing Costs QUANTITIES Units to be accounted for Work-in-process, Aug 1 (100% materials, 10% conversion costs) Started into production Total units Units accounted for Transferred out Work-in-process, Aug 31 COSTS Units costs $ 18,000 14,175 (100% materials, 20% conversion costs) Total units Cost in August Equivalent units Unit costs Cost to be accounted for Work-in-process, August 1 Started into production Total costs Cost Reconciliation Table Cost accounted for Transferred out Total costs Work-in-process, August 31 Materials Conversion costs $ 32,175 180,000 35,100 69,965 NAGANO MANUFACTURING COMPANY Physical Units Welding Department Production Cost Report For the Month Ended August 31 ? Beginning work in process ? Units transferred out Units started Ending work in process Equivalent Units Materials ? ? ? Production Data Materials $198,000 ? ? + Conversion Costs ? ? ? Conversion Costs $119,240 ? 15,000 units 1/10 complete 49,000 60,000 26,000 1/5 complete Total $317,240 S? $ 32,175 285,065 317,240 S?
Transcribed Image Text:V. The Welding Department of Nagano Manufacturing Company has the following production and manufacturing cost data for August 2021. All materials are added at the beginning of the process (e.g 100% complete as the DM) Beginning work in process Materials Conversion costs Materials Labor Overhead Manufacturing Costs QUANTITIES Units to be accounted for Work-in-process, Aug 1 (100% materials, 10% conversion costs) Started into production Total units Units accounted for Transferred out Work-in-process, Aug 31 COSTS Units costs $ 18,000 14,175 (100% materials, 20% conversion costs) Total units Cost in August Equivalent units Unit costs Cost to be accounted for Work-in-process, August 1 Started into production Total costs Cost Reconciliation Table Cost accounted for Transferred out Total costs Work-in-process, August 31 Materials Conversion costs $ 32,175 180,000 35,100 69,965 NAGANO MANUFACTURING COMPANY Physical Units Welding Department Production Cost Report For the Month Ended August 31 ? Beginning work in process ? Units transferred out Units started Ending work in process Equivalent Units Materials ? ? ? Production Data Materials $198,000 ? ? + Conversion Costs ? ? ? Conversion Costs $119,240 ? 15,000 units 1/10 complete 49,000 60,000 26,000 1/5 complete Total $317,240 S? $ 32,175 285,065 317,240 S?
Instructions: 1. Compute the physical flow of units 2. Compute the equivalent units of production for materials and conversion costs for the month of September 3. Compute the unit costs for materials and conversion costs for the month 4. Determine the costs to be assigned to the units transferred out and in process. Note: Substitute all your answers to the Production Cost Report/Form above
Transcribed Image Text:Instructions: 1. Compute the physical flow of units 2. Compute the equivalent units of production for materials and conversion costs for the month of September 3. Compute the unit costs for materials and conversion costs for the month 4. Determine the costs to be assigned to the units transferred out and in process. Note: Substitute all your answers to the Production Cost Report/Form above
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