Managerial Accounting
3rd Edition
ISBN: 9780077826482
Author: Stacey M Whitecotton Associate Professor, Robert Libby, Fred Phillips Associate Professor
Publisher: McGraw-Hill Education
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Question
Chapter 3, Problem 4MC
To determine
Concept introduction:
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.
To calculate:
The number of equivalent units
Expert Solution & Answer
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Check out a sample textbook solutionStudents have asked these similar questions
I need to know how to get the number of equivalent units of production.
a. 13000
b. 10000
c. 12,400
17. The total variable cost of manufacturing 2000 units of product A is OMR 4000. Calculate the total variable cost for manufacturing 5000 Units of Product A.
a.
OMR 7000
b.
OMR 10000
c.
OMR 8000
d.
OMR 9000
12. If equivalent units are 6,000 for conversion costs and units transferred out
equals 4,000, what stage of completion should the ending work in process be
for the 8,000 units remaining?
a) 75%
b) 25%
c) 10%
d) 20%
Chapter 3 Solutions
Managerial Accounting
Ch. 3 - Briefly describe the difference between job order...Ch. 3 - Prob. 2QCh. 3 - Explain the differences between Raw Materials...Ch. 3 - Explain the flow of costs in a process costing...Ch. 3 - Prob. 5QCh. 3 - Prob. 6QCh. 3 - Prob. 7QCh. 3 - Prob. 8QCh. 3 - Prob. 9QCh. 3 - Prob. 10Q
Ch. 3 - Prob. 11QCh. 3 - Prob. 12QCh. 3 - Prob. 13QCh. 3 - Prob. 14QCh. 3 - Prob. 15QCh. 3 - Prob. 16QCh. 3 - What triggers the cost of manufacturing to be...Ch. 3 - Prob. 1MCCh. 3 - Prob. 2MCCh. 3 - Prob. 3MCCh. 3 - Prob. 4MCCh. 3 - Prob. 5MCCh. 3 - Prob. 6MCCh. 3 - Prob. 7MCCh. 3 - The primary difference between FIFO and...Ch. 3 - Prob. 9MCCh. 3 - Prob. 10MCCh. 3 - Prob. 1MECh. 3 - Prob. 2MECh. 3 - Prob. 3MECh. 3 - Prob. 4MECh. 3 - Prob. 5MECh. 3 - Calculation Cost per Equivalent unit...Ch. 3 - Prob. 7MECh. 3 - Prob. 8MECh. 3 - Prob. 9MECh. 3 - Prob. 10MECh. 3 - Prob. 11MECh. 3 - Prob. 12MECh. 3 - Calculating Equivalent Units (FIFO) The Cuttilg...Ch. 3 - Compare Weighted-Average and FIFO Process Costing...Ch. 3 - Prob. 15MECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - Prob. 4ECh. 3 - Prob. 5ECh. 3 - Prob. 6ECh. 3 - Prob. 7ECh. 3 - Prob. 8ECh. 3 - Prob. 9ECh. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Prob. 13ECh. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Prob. 16ECh. 3 - Calculating Equivalent Units, Unit Costs, and Cost...Ch. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - Prob. 20ECh. 3 - Prob. 21ECh. 3 - Recording Manufacturing Costs in Process Costing...Ch. 3 - Prob. 1.1GAPCh. 3 - Prob. 1.2GAPCh. 3 - Prob. 2GAPCh. 3 - Preparing a Process Costing Production Report...Ch. 3 - Prob. 3.2GAPCh. 3 - Prob. 4GAPCh. 3 - Prob. 5.1GAPCh. 3 - Prob. 5.2GAPCh. 3 - Prob. 6GAPCh. 3 - Prob. 1.1GBPCh. 3 - Prob. 1.2GBPCh. 3 - Preparing a Process Costing Production Report...Ch. 3 - Preparing a Process Costing Production Report...Ch. 3 - Preparing a Process Costing Production Report...Ch. 3 - Prob. 4GBPCh. 3 - Prob. 5.1GBPCh. 3 - Prob. 5.2GBPCh. 3 - Prob. 6GBP
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- According to cost formula y= 55,200 + 33x, total cost at an activity level of 15,000 units would be a. 55,200b. 495,000c. 550,200d. 439,800arrow_forwardpossible Standard material cost per kg of raw material is $8.75. Standard material allowed per unit is 6 Kg. Actual material used per unit is 6.25 Kg. Actual cost per kg is $8.00. What is the standard cost per output unit? O A. $48.00 B. $52.50 C. $50.00 D. $54.69 A: S Nextarrow_forwardshould the units completed be 50,000 or 51,000?arrow_forward
- According to following information, which of the following is the total cost (OMR) and total cost equation in the form of Y = F+VX? Number of units produced is 10000. Fixed Total Costs Costs Material used in 2000 Production 44000 Labor used in Production 11400 21400 Production 2640 11140 Facilities costarrow_forwardCalculate the total cost per unit when the total cost is given as 80000 OMR and unit sold are 8000 units Select one: a. 10 OMR b. 80000 OMR c. 800 OMR d. 80 OMRarrow_forward12. If an overhead cost of operating a machine is $500,000 for 1000 hours, then the cost allocation rate will be a. $1500 per hour b. $250 per hour c. $500 per hour d. $1000 per hourarrow_forward
- If it takes 3 units of raw material to make one unit of a product and the cost per unit of raw material is $5, what is the standard raw material cost per unit of output? a. $1.67 b. $0.60 c. $15.00 d. $3.00arrow_forwardAssume the following information:VolumeTotal Cost100 units$1,30090 units1,500106 units1,750What is the variable cost per unit? (Round answer to three decimal places.)a. $28.125b. $15.625c. $20.178d. $13.175arrow_forwardQ.8 A company has a process that results in 31000 pounds of product A…arrow_forward
- Given the cost formula, Y = $16,000+ $3.40x, total cost for an activity level of 4,000 units would be: A. $13,600 OB. $3,600 C. $29,600 O D. $16,000arrow_forward46. Lorenzo corporation has provided the following data for one of its products. Process time = 3 days Queue time 4 days, Inspection time 0.7 days Move time 0.3 days Wait time 9 days The throughput time for this operation would be closest to Use the following information to answer 47 -50. Thomas Ito Manufacturing Corporation has the following information. Moving time 8 days, Inspection time 2 days, Processing time 10 days, storage time 30 days 47. The total amount of value added time would be: 48. The total amount of non-value added time would be 49. The product's cycle time would 50. The manufacturing cycle efficiency would bearrow_forwardFollowing are Costs for a month in which it produced 2000 units.: (All values in OMR) Fixed Variable Total Costs Costs Costs Material Costs 15000 55000 Labor Costs ? 65000 75000 Production 25000 10000 ? Facilities cost On the basis of above information, what will be the estimated cost for 4000 units from the following? Select one: O a. OMR 330000 O b. OMR 165000 O c. OMR 215000 O d. OMR 280000arrow_forward
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