**Use this Information for the Next Few Questions:**We find the following information for the Welding Department WIP Account of BNSF line. After the Welding Department, the costs will flow into the next WIP department, which is Track Installation. All materials are placed in process at the beginning of the production cycle.**Work In Process – Welding**| Description | Amount ||------------------------------------------|----------|| Beg. Bal: 9,000 Units, 40% complete | $72,360 || Direct Materials: 40,000 units @ $6.80 | $272,000 || Direct Labor | $80,000 || Factory Overhead | $40,450 || Bal. ?? Units, 30% Complete | $??? || To Track WIP Department, 41,500 Units | $?? |**16:** Calculate the Whole Units (Step 1 as we learned it).[Blank space for student response.]**17:** Calculate the Equivalent Units with respect to Material and Conversion Costs.- **Materials:** - **Conversion:**[Blank spaces for student responses.]**18:** Calculate the Cost Per Equivalent Unit for Materials and for Conversion.- **Materials:** - **Conversion:**[Blank spaces for student responses.]

We find the following information for the Welding Department WIP Account of BNSF line. After the Welding Department, the costs will flow into the next WIP department which is Track Installation. All materials are placed in process at the beginning of the production cycle. Work In Process – Welding Beg. Bal: 9,000 Units, 40% complete Direct Materials: 40,000 units @ S6.80 Direct Labor Factory Overhead Bal. ?? Units, 30% Complete S72.360 $272,000 $80,000 $40,450 S??? To Track WIP Department, 41,500 Units S?? 16: Calculate the Whole Units (Step 1 as we learned it). 17: Calculate the Equivalent Units with respect to Material and Conversion Costs Materials: Conversion: 18: Calculate the Cost Per Equivalent Unit for Materials and for Conversion

We find the following information for the Welding Department WIP Account of BNSF line. After the Welding Department, the costs will flow into the next WIP department which is Track Installation. All materials are placed in process at the beginning of the production cycle. Work In Process – Welding Beg. Bal: 9,000 Units, 40% complete Direct Materials: 40,000 units @ S6.80 Direct Labor Factory Overhead Bal. ?? Units, 30% Complete S72.360 $272,000 $80,000 $40,450 S??? To Track WIP Department, 41,500 Units S?? 16: Calculate the Whole Units (Step 1 as we learned it). 17: Calculate the Equivalent Units with respect to Material and Conversion Costs Materials: Conversion: 18: Calculate the Cost Per Equivalent Unit for Materials and for Conversion

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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Sunland Furniture Company manufactures living room furniture through two departments: Framing and Upholstering. The company uses the weighted-average method. Materials are entered at the beginning of each process. For May, the following cost data are obtained from the two work in process accounts. Work in process, May 1 Materials Conversion costs Costs transferred in Costs transferred out Work in process, May 31 (a) Framing 407,000 Save for Later $0 168.000 Answer the following questions. 320,000 0 114,000 Unit cost of materials for May Upholstering $ $? ? 320,000 320,000 If 3,700 sofas were started into production on May 1 and 2,000 sofas were transferred to Upholstering, what was the unit cost of materials for May in the Framing Department? ? ? Attempts: 0 of 1 used Submit Answer
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a.) The cost of Work in process End in Finishing Dept. is?
In using FIFO method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For December 2021, Cruz Company presented the following costs on three processes: What is the equivalent units of production (EUP) on Materials in Department 1? 15,000 15,100 16,000 14,200 What is the equivalent units of production (EUP) on Materials in Department 2? 15,100 15,000 15,150 14,800