MANAGERIAL ACCOUNTING-W/ACCESS >C<
22nd Edition
ISBN: 9781307839302
Author: Garrison
Publisher: MCG/CREATE
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Chapter 4.A, Problem 10P
PROBLEM 4A-10 Equivalent Units of Production; Assigning Costs; Cost Reconciliation Report-FIFO Method LO4-6, LO4-7, LO4-8, LO4-9
Selzik Company makes super-premium cake mixes that to through two processing departments-Blending and Packaging. The following activity was recorded in the Blending Department during July:
Production data:
All materials are added at the beginning of work in the Blending Department. The company uses the FIFO method in its
Required:
- Calculate the Blending Department's equivalent units of production for materials and conversion for July.
- Calculate the Blending Department's cost per equivalent unit for materials and conversion for July.
- Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for July.
- Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for July.
- Prepare a cost reconciliation report for the Blending Department for July
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Exercise 1: Process costingSelzik Company makes super-premium cake mixes that go through two processing departments, Blending and Packaging. The following activity was recordedin the Blending Department during July:Production data:TotalUnits in process, July 1(materials 100% complete; conversion 30% complete)10,000Units started into Production170,000Units complete and transferred to Packaging?Units in process, July 31 (materials 100% complete; conversion 40% complete)20,000Cost data:Work in process inventory, July 1:Materials cost$ 8,500Conversion cost4,900$13,400Cost added during the month:Materials cost$139,400Conversion cost244,200383,600Total Cost$397,000All materials are added at the beginning of work in the Blending Department. Required:Prepare a production report in weighted average method and FIFO method for the Blending Department for July. Use the following 3 steps as a guide in preparing your report:1.Prepare a quantity schedule and compute the equivalents units2.Compute the…
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Chapter 4 Solutions
MANAGERIAL ACCOUNTING-W/ACCESS >C<
Ch. 4.A - EXERCISE 4A-1 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-2 Cost per Equivalent Unit-FIFO Method...Ch. 4.A - EXERCISE 4A-3 Assigning Costs to Units-FIFO Method...Ch. 4.A - EXERCISE 4A-4 Cost Reconciliation Report-EIFO...Ch. 4.A - EXERCISE 4A-5 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-6 Equivalent Units of Production-FIFO...Ch. 4.A - EXERCISE 4A-7 Equivalent Units of Production and...Ch. 4.A -
EXERCISE 4A-8 Equivalent Units of Production—FIFO...Ch. 4.A - EXERCISE 4A-9 Equivalent Units; Equivalent Units...Ch. 4.A - PROBLEM 4A-10 Equivalent Units of Production;...
Ch. 4.A - Prob. 11PCh. 4.A - Prob. 12CCh. 4.B - Prob. 1ECh. 4.B - EXERCISE 4B-2 Step-Down Method LO4-11 Madison Park...Ch. 4.B - Prob. 3ECh. 4.B - EXERCISE 4B-4 Direct Method LO4-10 Refer to the...Ch. 4.B - PROBLEM 4B-5 Step-Down Method L04-11 Woodbury...Ch. 4.B - Prob. 6CCh. 4 - Prob. 1QCh. 4 - In what ways are job-order and process costing...Ch. 4 - Why is cost accumulation simpler in a process...Ch. 4 - How many Work in Process accounts are maintained...Ch. 4 - Prob. 5QCh. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 1AECh. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Prob. 10F15Ch. 4 - Prob. 11F15Ch. 4 - Prob. 12F15Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Prob. 14F15Ch. 4 - Prob. 15F15Ch. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - EXERCISE 4-4 Assigning Costs to...Ch. 4 - EXERCISE 4-5 Cost Reconciliation...Ch. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 -
EXERCISE 4-9 Equivalent Units and Cost per...Ch. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - PROBLEM 4-16 Comprehensive...Ch. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19CCh. 4 - (
CASE 4-20 Ethics and the Manager, Understanding...
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