b. Equivalent units of production for direct materials and conversion. If an amount is zero ora blank, enter in "0".Work in Process-Assembly DepartmentEquivalent Units of Production for Direct Materials and Conversion CostsEquivalent Units Equivalent UnitsWhole UnitsDirect MaterialsConversionInventory in process, beginningStarted and completedTransferred to finished goodsInventory in process, endingTotal unitsc. Costs per equivalent unit for direct materials and conversion. If required, round youranswers to the nearest cent.Costs Per EquivalentUnitDirect$4MaterialsConversiond. Cost of the units started and completed during the period.$4 Equivalent Units of Production and Related CostsThe charges to Work in Process-Assembly Department for a period, together with informationconcerning production, are as follows. All direct materials are placed in process at thebeginning of production.Work in Process-Assembly DepartmentBal., 2,000 units, 75% completed9,100To Finished Goods, 46,000Direct materials, 47,000 units @ $1.779,900Direct labor134,500Factory overhead52,255Bal. ? units, 35% completedDetermine the following:a. The number of units in work in process inventory at the end of the period.units

The equivalent units are calculated on the basis of percentage of the work completed during the…

Answered: Work in Process-Assembly Department…

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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Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Blackrock Steel Company is $625,500 from the Casting Department. The conversion cost for the period in the Rolling Department is $157,680 ($94,600 factory overhead applied and $63,080 direct labor). The total cost transferred to Finished Goods for the period was $724,000. The Rolling Department had a beginning inventory of $38,020. a1. Journalize the cost of transferred-in materials. If an amount box does not require an entry, leave it blank. Work in Process-Rolling Work in Process-Casting a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. Work in Process-Rolling Factory Overhead-Rolling Wages Payable a3. Journalize the costs transferred out to Finished Goods. If an amount box does not require an entry, leave it blank. Finished Goods…
Department G had 1,920 units 25% completed at the beginning of the period, 13,800 units were completed during the period, 1,600 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $29,200 Costs added during period: Direct materials (13,480 units at $8) 107,840 Direct labor Factory overhead 73,200 24,400 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 1,920 units of beginning inventory which were completed during the period is (do not round unit cost calculations) O $39,504 O $29,200 $37,443 $41,104
Ocess The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials placed in process at the beginning of production. Work In Process-Assembly Department Bal., 2,000 units, 25% completed 5,100 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.7 79,900 Direct labor 126,400 Factory overhead 49,165 Bal., 2 units, 65% completed Cost per equivalent units of $1.70 for Direct Materials and $3.70 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 24 1. Cost of beginning work in process inventory completed this period %24 2. Cost of units transferred to finished goods during the period %24 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest $ cent.)
Department G had 2,280 units 25% completed at the beginning of the period, 12,600 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $32,500 Costs added during period: Direct materials (12,220 units at $8) 97,760 Direct labor 73,800 Factory overhead 24,600 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of the departmental work in process inventory at the end of the period (round unit cost calculations to four decimal places and round your final answer to the nearest dollar)? a.$17,460 b.$23,677 c.$18,213 d.$15,200
Department G had 1,920 units 25% completed at the beginning of the period, 13,600 units were completed during the period, 1,600 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period: Work in process, beginning of period Costs added during period: Direct materials (13,280 units at $9) Direct labor Factory overhead $27,200 119,520 76,200 25,400 All direct materials are placed in process at the beginning of production, and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (do not round unit cost calculation)? a. $175,756 b. $211,074 c. $105,120 d. $193,415
Department G had 2,280 units 25% completed at the beginning of the period, 12,700 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $33,800 Costs added during period: Direct materials (12,320 units at $8) 98,560 Direct labor 81,600 Factory overhead 27,200 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 2,280 units of beginning inventory which were completed during the period is (do not round unit cost calculations) $33,800 $50,572 $45,698 $48,672
Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Keystone Steel Company is $542,500 from the Casting Department. The conversion cost for the period in the Rolling Department is $110,600 ($68,200 factory overhead applied and $42,400 direct labor). The total cost transferred to Finished Goods for the period was $632,100. The Rolling Department had a beginning inventory of $29,100. a1. Journalize the cost of transferred-in materials. a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. a3. Journalize the costs transferred out to Finished Goods b. Determine the balance of Work in Process-Rolling at the end of the period.

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Work in Process-Assembly Department al., 2,000 units, 75% completed To Finished Goods, 46,000 9,100 79,900 134,500 rect materials, 47,000 units @ $1.7 rect labor ctory overhead 52,255 al. ? units, 35% completed etermine the following: