Production Cost report under Process Costing : The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process. Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost. The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory. Requirement1: The preparation of Statement of Equivalent production unit for blending department.

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Answer 1

Question

Chapter 20, Problem E20.19E

To determine

Production Cost report under Process Costing:

The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process.

Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost.

The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory.

Requirement1:

The preparation of Statement of Equivalent production unit for blending department.

To determine

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

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Answer 2

Question

Chapter 20, Problem E20.19E

To determine

Production Cost report under Process Costing:

The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process.

Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost.

The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory.

Requirement1:

The preparation of Statement of Equivalent production unit for blending department.

To determine

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Chapter 20, Problem E20.19E

To determine

Production Cost report under Process Costing:

The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process.

Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost.

The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory.

Requirement1:

The preparation of Statement of Equivalent production unit for blending department.

To determine

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

Expert Solution & Answer

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Answer 4

Question

Chapter 20, Problem E20.19E

To determine

Production Cost report under Process Costing:

The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process.

Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost.

The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory.

Requirement1:

The preparation of Statement of Equivalent production unit for blending department.

To determine

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

Expert Solution & Answer

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Answer 5

Chapter 20, Problem E20.19E

To determine

Production Cost report under Process Costing:

The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process.

Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost.

The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory.

Requirement1:

The preparation of Statement of Equivalent production unit for blending department.

To determine

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

Answer 6

Chapter 20, Problem E20.19E

To determine

Production Cost report under Process Costing:

The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process.

Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost.

The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory.

Requirement1:

The preparation of Statement of Equivalent production unit for blending department.

Answer 7

Chapter 20, Problem E20.19E

To determine

Production Cost report under Process Costing:

The Production cost report is prepared with a view that some of the units started in the process might not have completed at the end of the period. This will result in the difficulty in cost allocation among the units completed and units in process at the end of process.

Therefore, for such purposes the units incomplete shall be converted in to equivalent units of units completed as if whole of the units have been completed. This will help in computing the cost per equivalent unit for each element of cost.

The last step is to compute the cost of units completed and transferred out to the next process and the cost of ending work in process inventory.

Requirement1:

The preparation of Statement of Equivalent production unit for blending department.

Answer 8

To determine

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

Answer 9

To determine

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

Answer 10

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Answer 11

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Answer 12

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Answer 13

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

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Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

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Chapter 20 Solutions

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Requirement2: The computation of total cost of units completed and transferred out and cost of ending work in process inventory.

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Chapter 20 Solutions

Requirement2:

The computation of total cost of units completed and transferred out and cost of ending work in process inventory.