Vaughan Company uses a process costing system to account for unit costs. The following information is available for May: DM% CC% 10,000 units Beginning WIP Inventory (cost DM = $26,550 CC = | 70% 50% $42,750) Units started in May 80,000 units Ending WIP 5,000 units 70% 10% Direct materials added during May were $238,950 and direct labor used in May was $149,625. Vaughan Company applies FOH based on 100% of DL$. Vaughan Company uses the weighted average method of accounting for equivalent units of production. 1. The number of units transferred to the next department in May are [ Select ] 2. The equivalent units of production for direct materials in May are: [Select] 3. The cost per unit of direct materials coming out of this department in May is [ Select ] 4. The total amount of dollars transferred from this department to the next department during May is [ Select] 5. The dollar amount of ending WIP in the department at the end of May is [ Select ]
Vaughan Company uses a process costing system to account for unit costs. The following information is available for May: DM% CC% 10,000 units Beginning WIP Inventory (cost DM = $26,550 CC = | 70% 50% $42,750) Units started in May 80,000 units Ending WIP 5,000 units 70% 10% Direct materials added during May were $238,950 and direct labor used in May was $149,625. Vaughan Company applies FOH based on 100% of DL$. Vaughan Company uses the weighted average method of accounting for equivalent units of production. 1. The number of units transferred to the next department in May are [ Select ] 2. The equivalent units of production for direct materials in May are: [Select] 3. The cost per unit of direct materials coming out of this department in May is [ Select ] 4. The total amount of dollars transferred from this department to the next department during May is [ Select] 5. The dollar amount of ending WIP in the department at the end of May is [ Select ]
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![**Vaughan Company Process Costing Information for May**
Vaughan Company uses a process costing system to account for unit costs. Here is the available information for May:
| | | |
|--------------------------|-------------|--------|
| **Beginning WIP Inventory** | 10,000 units | |
| (cost DM = $26,550 CC = $42,750) | | |
| **DM%** | 70% | |
| **CC%** | 50% | |
| **Units started in May** | 80,000 units | |
| **Ending WIP** | 5,000 units | |
| **DM%** | 70% | |
| **CC%** | 10% | |
- **Direct materials added during May:** $238,950
- **Direct labor used in May:** $149,625
- Vaughan Company applies FOH based on 100% of DL$.
- Vaughan Company uses the weighted average method of accounting for equivalent units of production.
### Questions for Analysis:
1. **The number of units transferred to the next department in May are:**
- [ Select ]
2. **The equivalent units of production for direct materials in May are:**
- [ Select ]
3. **The cost per unit of direct materials coming out of this department in May is:**
- [ Select ]
4. **The total amount of dollars transferred from this department to the next department during May is:**
- [ Select ]
5. **The dollar amount of ending WIP in the department at the end of May is:**
- [ Select ]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F65f58403-e688-4181-957b-d92cb2a7a651%2Fa1821fa3-a1d9-46fc-a31e-9c97f0bf934e%2Fixwmv2k_processed.png&w=3840&q=75)
Transcribed Image Text:**Vaughan Company Process Costing Information for May**
Vaughan Company uses a process costing system to account for unit costs. Here is the available information for May:
| | | |
|--------------------------|-------------|--------|
| **Beginning WIP Inventory** | 10,000 units | |
| (cost DM = $26,550 CC = $42,750) | | |
| **DM%** | 70% | |
| **CC%** | 50% | |
| **Units started in May** | 80,000 units | |
| **Ending WIP** | 5,000 units | |
| **DM%** | 70% | |
| **CC%** | 10% | |
- **Direct materials added during May:** $238,950
- **Direct labor used in May:** $149,625
- Vaughan Company applies FOH based on 100% of DL$.
- Vaughan Company uses the weighted average method of accounting for equivalent units of production.
### Questions for Analysis:
1. **The number of units transferred to the next department in May are:**
- [ Select ]
2. **The equivalent units of production for direct materials in May are:**
- [ Select ]
3. **The cost per unit of direct materials coming out of this department in May is:**
- [ Select ]
4. **The total amount of dollars transferred from this department to the next department during May is:**
- [ Select ]
5. **The dollar amount of ending WIP in the department at the end of May is:**
- [ Select ]
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education