Managerial Accounting
7th Edition
ISBN: 9781260247886
Author: Wild
Publisher: MCG
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Chapter 3, Problem 4PSB
Problem 16-4B Weighted average: Process cost summary; equivalent units; costs estimates C2 C3 P4
Switch Co. manufactures a single product in one department. Direct labor
Required
- Prepare the company’s process cost summary for January using the weighted-average method. Check (1) EUP for conversion, 232.000
- Prepare the
Journal entry dated January 31 to transfer the cost completed units to finished goods inventory.
(2) Cost transferred out to finished goods, $741,400
Analysis Component
- Identify two major estimates that affect the cost per equivalent unit.
- In what direction might you anticipate a bias from management for each estimate in part 3a (assume that management compensation is based on maintaining low inventory amounts)? Explain your answer.
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One question multiple parts
Question 18
Jublot Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory 600
Materials costs $ 7,300
Conversion costs $ 2,300
Percent complete with respect to materials 50 %
Percent complete with respect to conversion 10 %
Units started into production during the month 9,400
Units transferred to the next department during the month 8,600
Materials costs added during the month $ 196,300
Conversion costs added during the month $ 315,800
Ending work in process inventory:
Units in ending work in process inventory 1,400
Percent complete with respect to materials 70 %
Percent complete with respect to conversion 40 %
The cost per equivalent unit for materials for the month in the first processing department is closest to:
$14.48
$15.88…
PROBLEM 15: The following quarterly cost data have been accumulated for NewDDDManufacturing, Inc.:
Raw materials, 1/1/2022 10,000 units at P6.00
Purchases of raw materials 8,500 units at P7.00
11,000 units at P7.50
Raw materials transferred to
work in process 21,500 units
Work in process, 1/1/2022 5,600 units at P13.50
Direct labor P 250,000
Manufacturing overhead 325,000
Work in process, 3/31/2022 4,200 units at P13.75
If New Delhi uses the FIFO method for valuing raw materials inventories, compute for thecost of goods manufactured for the quarter ended March 31, 2022.
Chapter 3 Solutions
Managerial Accounting
Ch. 3 - Prob. 1MCQCh. 3 - Prob. 2MCQCh. 3 - Prob. 3MCQCh. 3 - 4. A company’s beginning work in process in...Ch. 3 - Prob. 5MCQCh. 3 - What is the main factor for a company in closing...Ch. 3 - Prob. 2DQCh. 3 - Prob. 3DQCh. 3 - Prob. 4DQCh. 3 - Prob. 5DQ
Ch. 3 - Prob. 6DQCh. 3 - Prob. 7DQCh. 3 - Prob. 8DQCh. 3 - Direct labor costs Flow through what accounts in a...Ch. 3 - Prob. 10DQCh. 3 - Prob. 11DQCh. 3 - Prob. 12DQCh. 3 - 13. List the four steps in accounting for...Ch. 3 -
14. APPLE Companies such as Apple commonly...Ch. 3 - 15. GOOGLE Are there situations where Google can...Ch. 3 - Prob. 16DQCh. 3 - Prob. 17DQCh. 3 - Prob. 18DQCh. 3 - Prob. 19DQCh. 3 - Process vs. job order operations C1 For each of...Ch. 3 - Prob. 2QSCh. 3 - Prob. 3QSCh. 3 - Physical flow reconciliation C2 The following...Ch. 3 - Prob. 5QSCh. 3 - Prob. 6QSCh. 3 - Prob. 7QSCh. 3 - Prob. 8QSCh. 3 - Prob. 9QSCh. 3 - Prob. 10QSCh. 3 - Prob. 11QSCh. 3 - Prob. 12QSCh. 3 - Prob. 13QSCh. 3 - Prob. 14QSCh. 3 - Prob. 15QSCh. 3 - Prob. 16QSCh. 3 - Prob. 17QSCh. 3 - Prob. 18QSCh. 3 - Prob. 19QSCh. 3 - Prob. 20QSCh. 3 - Prob. 21QSCh. 3 - Prob. 22QSCh. 3 - Prob. 23QSCh. 3 - Prob. 24QSCh. 3 - Prob. 25QSCh. 3 - Prob. 26QSCh. 3 - Prob. 1ECh. 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 - Exercise 16-13AFIFO: Completing a process cost...Ch. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Exercise 16-16 Weighted average: Process cost...Ch. 3 - Prob. 17ECh. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - Prob. 20ECh. 3 - Prob. 21ECh. 3 - Prob. 22ECh. 3 - Prob. 23ECh. 3 - Prob. 24ECh. 3 - Prob. 25ECh. 3 - Prob. 26ECh. 3 - Prob. 1PSACh. 3 - Prob. 2PSACh. 3 - Prob. 3PSACh. 3 - Prob. 4PSACh. 3 -
Problem 16-5AA FIFO: Process cost summary;...Ch. 3 - Prob. 6PSACh. 3 - Prob. 7PSACh. 3 - Prob. 1PSBCh. 3 - Prob. 2PSBCh. 3 - Prob. 3PSBCh. 3 - Problem 16-4B Weighted average: Process cost...Ch. 3 - Problem 16-5BA FIFO: Process cost summary;...Ch. 3 - Prob. 6PSBCh. 3 - Prob. 7PSBCh. 3 - Prob. 3SPCh. 3 - Prob. 3CPCh. 3 - Prob. 1GLPCh. 3 - Prob. 1AACh. 3 - Prob. 2AACh. 3 - Prob. 3AACh. 3 - Prob. 1BTNCh. 3 - Prob. 2BTNCh. 3 - Prob. 3BTNCh. 3 - Prob. 4BTNCh. 3 - Prob. 5BTNCh. 3 - Prob. 6BTN
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