Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process. Equivalent units : Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit. Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately. Requirement-1: To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

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Answer 1

Question

Chapter 20, Problem 4E

To determine

Introduction:

Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process.

Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.

Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately.

Requirement-1:

To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

To determine

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

To determine

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

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Wilson Tech Systems uses machine hours in its predetermined overhead rate. At the beginning of the year, the estimated machine hours were 12,500 hours and the total estimated manufacturing overhead was $362,500. At the end of the year, actual machine hours used were 13,420 hours and the actual manufacturing overhead incurred was $338,000. Overhead at the end of the year was _.

Answer 2

Question

Chapter 20, Problem 4E

To determine

Introduction:

Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process.

Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.

Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately.

Requirement-1:

To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

To determine

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

To determine

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Expert Solution & Answer

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Answer 3

Question

Chapter 20, Problem 4E

To determine

Introduction:

Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process.

Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.

Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately.

Requirement-1:

To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

To determine

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

To determine

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Expert Solution & Answer

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Answer 4

Question

Chapter 20, Problem 4E

To determine

Introduction:

Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process.

Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.

Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately.

Requirement-1:

To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

To determine

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

To determine

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Expert Solution & Answer

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Answer 5

Chapter 20, Problem 4E

To determine

Introduction:

Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process.

Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.

Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately.

Requirement-1:

To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

To determine

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

To determine

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Answer 6

Chapter 20, Problem 4E

To determine

Introduction:

Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process.

Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.

Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately.

Requirement-1:

To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

Answer 7

Chapter 20, Problem 4E

To determine

Introduction:

Process costing system: Process costing systems is a system to assign the costs where the production goes through different processes. A product may take several processes to complete and when these processes are separable, the process costing system is applied to ascertain the cost of each process.

Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.

Weighted average method: Weighted average method is one of the methods of process costing, under this method the cost of beginning work in process is mixed with the current period cost and weighted cost and equivalent units are calculated. In other words, the weighted average method does not teat the beginning work in process cost separately.

Requirement-1:

To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material are added to the products in the beginning:

Answer 8

To determine

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Answer 9

To determine

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Answer 10

To determine

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Answer 11

To determine

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 20 - Prob. 1DQ Ch. 20 - Prob. 2DQ Ch. 20 - Prob. 3DQ Ch. 20 - Prob. 4DQ Ch. 20 - Prob. 5DQ Ch. 20 - Prob. 6DQ Ch. 20 - Prob. 7DQ Ch. 20 - Prob. 8DQ Ch. 20 - Prob. 9DQ Ch. 20 - Prob. 10DQ

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Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

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Chapter 20 Solutions

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Requirement-2: To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Requirement-3: To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

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Chapter 20 Solutions

Requirement-2:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given:

Requirement-3:

To Calculate: The equivalent units of production with respect to material using weighted average method when percentages of completion are given: