### Carla Vista Company Process and Cost InformationCarla Vista Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process.#### Production Data- **Units in beginning work in process:** 23,600- **Units started into production:** 193,520- **Units in ending work in process:** 28,320#### Percent Complete in Ending Work in Process- **Conversion costs:** 60%- **Materials:** 100%#### Cost DataCost of beginning work in process, plus costs incurred during the period:- **Direct materials:** $130,272- **Direct labor:** $194,464- **Overhead:** $217,120 (c)**Your answer is partially correct.**Show the assignment of costs to units completed and transferred out and to work in process at the end of the period.- **Completed and transferred out:** $490,880- **Ending work in process:** $67,968Explanation:In this section, we are looking at how costs are assigned to units that have been completed and transferred out versus those that are still in the work-in-process stage at the end of the period.1. **Completed and transferred out:** This represents the total cost for units that were fully completed during the period and have been moved out of the work-in-process category. The cost for these units is $490,880.2. **Ending work in process:** This is the total cost for units that are still in production at the end of the period. The cost for these units is $67,968.The given figures indicate where the costs are allocated between completed units and those still being processed.

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Description: ### Carla Vista Company Process and Cost InformationCarla Vista Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process.#### Producti

Equivalent Production is representing the production of a process in terms of completed units. In…

Business

Accounting

Vista Company has gathere following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials 23,600 193,520 28,320 60 % 100 %

Vista Company has gathere following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials 23,600 193,520 28,320 60 % 100 %

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 4CMA: A company is using process costing with the first-in, first-out (FIFO) method, and all costs are...

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Carla Vista Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Cost of beginning work in process, plus costs incurred during the period: Direct materials Direct labor Overhead 23,600 193,520 28,320 60 % 100 % $130,272 $194,464 $217,120
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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. Units Beginning work in process inventory Units started this period 67,000 Direct Materials Percent Complete 100% Conversion Percent Complete 80% 844,000 Units completed and transferred out Ending work in process inventory 715,000 196,000 100% 90% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 296,075 133,710 $ 429,785 1,981,425 2,540,490 4,521,915 $ 4,951,700 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Note: Round "Cost per EUP" to 2…
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. Units Beginning work in process inventory Units started this period 67,000 Direct Materials Percent Complete 100% Conversion Percent Complete 80% 844,000 Units completed and transferred out Ending work in process inventory 715,000 196,000 100% 90% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 296,075 133,710 $ 429,785 1,981,425 2,540,490 4,521,915 $ 4,951,700 Required: 1. Compute equivalent units of production for both direct materials and conversion. Equivalent Units of Production (EUP) - Weighted Average Method Total units…
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) A company is going to use process costing to calculate the cost of its products. The following information has been accumulated: Units Beginning work in process 2,000 Materials 0%, Conversion 20% Units completed and transferred out 10,000 Ending work in process Materials 90%, Conversion 60% 1,800 Beginning inventory cost consists of $2,000 for materials and $3,000 for conversion. The cost per equivalent unit of materials is $4.00 and the cost per equivalent units of conversion is $6.00.What is the amount of material costs that was added during the period using the weighted average method?