Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of13,000 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in processinventory was $23,200. A total of 43,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.60 formaterials and $3.40 for conversion costs. The total cost of the units completed and transferred out of the department was:Multiple Choice$185,760$241,920$215,000$221,120

Given, Cost per equivalent unit - Materials = $1.60 Cost per equivalent unit - Conversion = $3.40

Answered: Walbin Corporation uses the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory 0 Units started in production 23,200 Units finished during the period 17,500 Units in process at the end of the period(complete as to materials, ¼ complete as to labor and overhead) 5,700 Cost of materials used $ 55,080 Labor and overhead costs $ 57,075 Total cost of the 17,500 units finished is:
Kronk, Incorporated provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). Started this month, 74,500 units. Transferred out, 71,500 units. Ending inventory, 35,750 units (materials are 100 percent complete; conversion costs are 60 percent complete). Required: Compute the equivalent units for materials using FIFO. Compute the equivalent units for conversion costs using FIFO.
The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 15,000 units. The ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. Costs per equivalent unit for the period are $3.10 for materials and $2.20 for labor and overhead. What is the balance of the ending work in process inventory account: a) $69,600 b) $46,000 c) $61,100 d) $79,500
Parks Company uses the weighted-average method in its process costing system. At the start of the year, the company had 5,000 units in process in Department A that were 60% complete with respect to conversion costs. At the end of the year, 6,500 units were in process, 40% complete with respect to conversion costs. During the year, 30,000 units were completed and transferred on to the next department. The equivalent units for conversion costs would be: Select one: O a. 32,600 units O b. 29,600 units O c. 33,000 units O d. 30,000 units
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 12,000 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $39,400. A total of 42,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $2.40 for materials and $4.50 for conversion costs. The total cost of the units completed and transferred out of the department was: a. b. C. d. $250,200 $289,800 $250,400 $189,000
Clonex Labs, Incorporated, uses the weighted - average method of process costing. The following data are available for one department for October: Units Percent Completed Materials Conversion Work in process, October 1 51, 000 95% 65% Work in process, October 31 38,000 66% 47% The department started 397,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October.
ABC Company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately. The production quantity schedule for April is reproduced below: Work in process on April 1 (60% complete as to conversion costs) 1,000 Units started during April 5,000 Total units to account for 6,000 Units completed and transferred out 4,000 Work in process on April 30 (20% complete as to conversion costs) 2,000 Total units accounted for 6,000 Costs pertaining to the month of April are as follows: Beginning inventory costs: (DM, $54,600; Conversion, $35,560) $90,160 Costs incurred during April (DM, $468,000; Conversion $574,060) $1,042,060 Question #1: Using the weighted average method, the equivalent unit materials cost for April is? Question #2: Using the weighted average method, the 4,000 units completed during April will be transferred out at an EUP unit cost of?
Silva Coporation uses the weighted average process costing method. The Mixing Department at Silva had 17,000 units in beginning inventory. These units contained $70,000 in direct materials, $80,000 in direct labor, and $60,000 in overhead. During the period, the department incurred costs of $320,000 in direct materials, $400,000 in direct labor and $200,000 in overhead and started 80,000 units. Ending inventory consisted of 6,000 units which were 100% complete with respect to direct materials and 50% complete with respect to direct labor and overhead. What is the cost per equivalent unit for direct labor (rounded to the nearest cent)? O $5.28 O $5.11 O $4.94 $0.86
Amazon Industries utilizes a process costing system with just one processing department. The beginning work in process Inventory in Department A consisted of 11,500 units, 100% complete with respect to materials cost and 40 % complete with respect to conversion costs. The total cost in the beginning work in process Inventory for Department A was $22,600. A total of 40,000 units were transferred out of Department A during the month. The costs per equivalent unit were computed to be $1.30 for materials and $3.10 for conversion costs. What is the total cost of the units completed and transferred out of Amazon's Department A this period?
In the month of March, a department had 7500 units in beginning Work in Process Inventory that were 80% complete. During March, 30300 units were transferred into production from another department. At the end of March there were 2500 units in ending Work in Process Inventory that were 80% complete. Direct materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. The weighted-average method is used. How much are equivalent units of production for direct materials for March? O 37300 equivalent units of production O 28300 equivalent units of production 37800 equivalent units of production 40300 equivalent units of production

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