Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period. Requirement 1: Number of units transferred to completed goods.

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Answer 1

Question

Chapter 3, Problem 6PSA

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labour and other overhead costs at a particular percent to know the completed manufacturing during the period.

FIFO method- Itisasystem of stock evaluation is a cost flow statement that the first merchandise purchased isalso the initial good sold. In most corporates, this assumption directly matches the actual flow of goods and so is considered the most, in theory, correct stock valuation method.

Requirement 2:

To explain:

Computation of number of equivalent units with respect to directmaterial (DM) and conversion used in manufacturing department for May using FIFO method.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

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During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. 1. Compute the number of units transferred to finished goods.2. Compute the number of equivalent units with respect to both materials used and conversion used in the production department for April using the weighted-average method.

During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 52,000 were in process in the production department at the beginning of April, and 210,000 were started and completed in April. April's beginning inventory units were 40% complete with respect to materials and 60% complete with respect to labor. At the end of April, 58,000 additional units were in process in the production department and were 70% complete with respect to materials and 50% complete with respect to labor. Compute the number of units transferred to finished goods.

During April, the first production department of a process manufacturing system completed its work on 300,000 units of a product and transferred them to the next department. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April’s beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion. Compute the number of equivalent units with respect to both materials used and conversion used in the first production department for April using the weighted-average method.

Answer 2

Question

Chapter 3, Problem 6PSA

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labour and other overhead costs at a particular percent to know the completed manufacturing during the period.

FIFO method- Itisasystem of stock evaluation is a cost flow statement that the first merchandise purchased isalso the initial good sold. In most corporates, this assumption directly matches the actual flow of goods and so is considered the most, in theory, correct stock valuation method.

Requirement 2:

To explain:

Computation of number of equivalent units with respect to directmaterial (DM) and conversion used in manufacturing department for May using FIFO method.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 3, Problem 6PSA

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labour and other overhead costs at a particular percent to know the completed manufacturing during the period.

FIFO method- Itisasystem of stock evaluation is a cost flow statement that the first merchandise purchased isalso the initial good sold. In most corporates, this assumption directly matches the actual flow of goods and so is considered the most, in theory, correct stock valuation method.

Requirement 2:

To explain:

Computation of number of equivalent units with respect to directmaterial (DM) and conversion used in manufacturing department for May using FIFO method.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 3, Problem 6PSA

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labour and other overhead costs at a particular percent to know the completed manufacturing during the period.

FIFO method- Itisasystem of stock evaluation is a cost flow statement that the first merchandise purchased isalso the initial good sold. In most corporates, this assumption directly matches the actual flow of goods and so is considered the most, in theory, correct stock valuation method.

Requirement 2:

To explain:

Computation of number of equivalent units with respect to directmaterial (DM) and conversion used in manufacturing department for May using FIFO method.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Expert Solution & Answer

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See solution

Answer 5

Chapter 3, Problem 6PSA

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labour and other overhead costs at a particular percent to know the completed manufacturing during the period.

FIFO method- Itisasystem of stock evaluation is a cost flow statement that the first merchandise purchased isalso the initial good sold. In most corporates, this assumption directly matches the actual flow of goods and so is considered the most, in theory, correct stock valuation method.

Requirement 2:

To explain:

Computation of number of equivalent units with respect to directmaterial (DM) and conversion used in manufacturing department for May using FIFO method.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Answer 6

Chapter 3, Problem 6PSA

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

Answer 7

Chapter 3, Problem 6PSA

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

Answer 8

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labour and other overhead costs at a particular percent to know the completed manufacturing during the period.

FIFO method- Itisasystem of stock evaluation is a cost flow statement that the first merchandise purchased isalso the initial good sold. In most corporates, this assumption directly matches the actual flow of goods and so is considered the most, in theory, correct stock valuation method.

Requirement 2:

To explain:

Computation of number of equivalent units with respect to directmaterial (DM) and conversion used in manufacturing department for May using FIFO method.

Answer 9

To determine

Concept introduction:

Equivalent units are those units which are finished from direct materials, labour and other overhead costs at a particular percent to know the completed manufacturing during the period.

FIFO method- Itisasystem of stock evaluation is a cost flow statement that the first merchandise purchased isalso the initial good sold. In most corporates, this assumption directly matches the actual flow of goods and so is considered the most, in theory, correct stock valuation method.

Requirement 2:

To explain:

Computation of number of equivalent units with respect to directmaterial (DM) and conversion used in manufacturing department for May using FIFO method.

Answer 10

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

Answer 11

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

Answer 12

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Answer 13

To determine

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 3 - Prob. 1MCQ Ch. 3 - Prob. 2MCQ Ch. 3 - Prob. 3MCQ Ch. 3 - Prob. 4MCQ Ch. 3 - Prob. 5MCQ Ch. 3 - What is the main factor for a company in closing...Ch. 3 - Prob. 2DQ Ch. 3 - Prob. 3DQ Ch. 3 - Prob. 4DQ Ch. 3 - Prob. 5DQ

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period. Requirement 1: Number of units transferred to completed goods.

Solution Summary: The author explains that equivalent units are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Concept explainers

Videos

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Want to see the full answer?

Chapter 3 Solutions

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period. Requirement 1: Number of units transferred to completed goods.

Solution Summary: The author explains that equivalent units are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Concept explainers

Videos

Concept introduction: Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period. Requirement 1: Number of units transferred to completed goods.

Concept introduction: Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit. Requirement 3: Computation of cost per equivalent unit for the department in respect to direct material and conversion.

Concept introduction: Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit. Requirement 4: Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.

Want to see the full answer?

Chapter 3 Solutions

Concept introduction:

Equivalent units are those units which are finished from direct materials, labor and other overhead costs at a particular percent to know the completed manufacturing during the period.

Requirement 1:

Number of units transferred to completed goods.

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 3:

Computation of cost per equivalent unit for the department in respect to direct material and conversion.

Concept introduction:

Per unit cost of production is represented by cost per equivalent production. It is determined by dividing total cost with equivalent production unit.

Requirement 4:

Assigning May’s cost to the units transferred to completed goods and to closing work in process stock.