YVCFAP992 Corporation's percentage (%) of completion of the ending inventory in work-in-process with respect to conversion cost is (&#):
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YVCFAP992 Corporation uses the weighted-average method in its
Additional information for YVCFA992 Corporation for April is:
(ID#18983)
Beginning Inventory 230 units 40% complete
Started 1,345 units
Completed and transferred out 775 units (&#)
YVCFAP992 Corporation's percentage (%) of completion of the ending inventory in work-in-process with respect to conversion cost is (&#):
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- Lights Incorporated calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) Conversion (50% completed) $ 122,400 76,800 Balance in work in process inventory, July 1 $ 199, 200 Units started during July 90,000 Units completed and transferred Work-in-process inventory, July 31: Direct materials (100% completed) Conversion (50% completed) Cost incurred during July: 102,ө00 24, 000 Direct materials $ 180,000 Conversion costs 288,000 Total equivalent units for materials under the weighted-average method are calculated to be:[The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 71,000 Percent Complete 65% Percent Complete 35% Units started this period 377,000 Completed and transferred out 355,000 Ending work in process inventory 93,000 90% 40% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Completed and transferred out Ending work in process Total Equivalent units of production: Weighted average method Direct Materials Conversion Units Percent Complete EUP Percent Complete EUP 355,000 93,000 448,000Lights Incorporated calculates cost for an equivalent unit of production using the welghted-average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) $ 122,400 Conversion (5e% completed) 76,800 Balance in work in process inventory, July 1 $ 199, 200 Units started during July Units completed and transferred Work-in-process inventory, July 31: 90,000 102,000 Direct materials (180% completed) Conversion (50% completed) Cost incurred during July: 24,000 Direct materials $ 180,000 Conversion costs 288, 000 Cost per equlvalent unit for materials under the welghted-average method is calculated to be: Multiple Choice $3.10. O $3.20. O $2.00. O $240. $3.00.
- Saved Brody Corp. uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred unformly throughout the process. Beglnning Inventory for January consisted of 1,250 units that were 75% completed. 10,000 units were started into the process during January. On January 31, the inventory consisted of 400 units that were 50% completed. What would be the equivalent units for direct materlals cost using the welghted average method? Multiple Cholce 11,250 10,600 10,300 10,000The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day. Beginning WIP inventory Direct materials $ 980 Conversion costs 557 Current period costs Direct materials 27,220 Conversion costs 16,803 Quantity information is obtained from the manufacturing records and includes the following. Beginning inventory 800 units (65% complete as to materials,56% complete as to conversion) Current period units started 5,900 units Ending inventory 1,500 units (45% complete as to materials,15% complete as to conversion) Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and conversion costs.Compute the total cost of the units transferred to finished goods Inventory. JKL FABRICATORS Ic., manufactures frames to bieycles. Each frame passes through three processes: CUTTING, WELDING & PAINTING. In July, the PAINTING Department reported the following data. Beginning WIP consisted of 40,500 units, 95% complete with respect to direct labor and overhead. Costs in the beginning inventory included prime cost, P15,000; applied overhead P12,110 and transferred-in, P31,500. Costs added to production during the month were direct materials, P72,900; direct labor P64,880; transferred-in, P102,060. Overhead was assigned using the following information: Activity Inspection Maintenance Actual Driver Usage 3,000 inspection hours 1,200 maintenance hours 1,000 receiving orders Rate P7.50 per inspection hour P12 per maintenance hour P10 per receiving order Receiving At the end of the month, 121,500 units were transferred out to the Finished Goods Inventory, leaving 13,500 units in the ending…
- Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,500 units that are 100 percent complete for materials and 23 percent complete for conversion. • 15,400 units started during the period. • Ending inventory of 3,400 units that are 14 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,200 ($8,900 materials and $11,300 conversion costs). • Costs added during the month were $29,600 for materials and $54,300 for conversion ($28,200 labor and $26,100 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question…Acer Corporation. has the following information for June All material is added at the start of the process and all finished products are transferred out. Beginning Work in Process Inventory (70% complete as to conversion) 6,000 units started 24,000 Ending Work in Process Inventory (10% complete as to conversion) 8,500 Beginning Work in Process Inventory Cost: Material P23,400 conversion 50,607 Current Period Cost: Material P31,500 Conversion 76,956 1. How many units were transferred out in June? 2. Assume that weighted average process costing is used. What is the cost per equivalent unit for material? 3. Assume that FIFO process costing is used. What is the cost per equivalent unit for conversion?Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 75% Conversion Percent Complete 25% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 63,000 337,000 315,000 85,000 80% 30% Exercise 16-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1 The production department had the cost information below. Beginning work in process inventory Direct materials $ 131,555 24,120 Conversion $ 155,675 Costs added this period Direct materials 825,945 707,955 1,533,900 $ 1,689,575 Conversion Total costs to account for a. Compute cost per equivalent unit for both direct materials and conversion. (Round "Cost per EUP" to 2 decimal places.) b. Using the weighted average method, assign…
- Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct materials $ 27,553 Conversion costs 8,905 Current period costs Direct materials 166,592 Conversion costs 86,000 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 6,000 units (40% complete as to materials, 15% complete as to conversion) Current period units started 45,400 units Ending inventory 25,000 units (75% complete as to materials, 35% complete as to conversion) Compute the cost of goods transferred out and the ending inventory for February using the weighted-average method. Note: Do not round intermediate calculations.The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials co Conversion cost Total ● $ 56,000 35,400 $ 91,400 Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 40,000 partially complete gallons, 25 percent complete with respect to conversion costs. Units started in July, 80,000 gallons. Units transferred out in July, 90,000 gallons. Ending inventory, 30,000 gallons, 40 percent complete with respect to conversion costs. $ 124,000 372, 600 $ 496,600 X Answer is complete but not entirely correct. Cost of goods transferred out $ 371,400 X Ending inventory $ 95,100 Required: Compute the cost of goods transferred out and the ending inventory for July using the FIFO method.Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units Beginning inventory of 3,000 units that are 100 percent complete for materials and 25 percent complete for conversion. 14,700 units started during the period. Ending inventory of 3,400 units that are 13 percent complete for conversion. Manufacturing Costs Beginning inventory was $19,800 ($9,700 materials and $10,100 conversion costs). Costs added during the month were $28,900 for materials and $48,900 for conversion ($27,600 labor and $21,300 applied overhead). I need help determining the costs to be assigned to the units transferred out and the units still in process.
