Homework Answers
Solution
| Equivalent units of production for direct material | 10,000 |
| Equivalent units of production for conversion cost are | 8,800 |
| Total direct material costs are | $ 35,000 |
| Total conversion costs are | $ 19,800 |
| Direct material cost per EUP are | $ 3.50 |
| Conversion cost per EUP are | $ 2.25 |
| Total cost of units per completed unit | $ 5.75 |
Working
| Reconciliation of Units | ||
| A | Beginning WIP | 3,000 |
| B | Introduced | 7,000 |
| C=A+B | TOTAL | 10,000 |
| D | Transferred out | 8,000 |
| E=C-D | Ending WIP | 2,000 |
.
| Statement of Equivalent Units(Weighted average) | |||||||
| Material | Conversion | ||||||
| Units | Complete % | Equivalent units | Complete % | Equivalent units | |||
| Transferred out | 8,000 | 100% | 8,000 | 100% | 8,000 | ||
| Ending WIP | 2,000 | 100% | 2,000 | 40% | 800 | ||
| Total | 10,000 | Total | 10,000 | Total | 8,800 | ||
.
| Cost per Equivalent Units (Weighted average) | ||||
| COST | Material | Conversion | TOTAL | |
| Beginning WIP Inventory Cost (A) | $ 5,000 | $ 2,200 | $ 7,200 | |
| Cost incurred during period (B) | $ 30,000 | $ 17,600 | $ 47,600 | |
| Total Cost to be accounted for (C=A+B) | $ 35,000 | $ 19,800 | $ 54,800 | |
| Total Equivalent Units(D) | 10,000 | 8,800 | ||
| Cost per Equivalent Units (E=C/D) | $ 3.50 | $ 2.25 | $ 5.75 | |
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The following partially completed process cost summary describes the July production activites of the Molding department...
The following partially completed process cost summary
describes the July production activites of the Molding department
at Ashad Company. Its production output is sent to the next
department. All direct materials are added to products when
processing begins. Beginning work in process inventory is 20%
complete with respect to conversion.
Required information [The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company....
The following partially completed process cost summary describes the July production activities of the Molding department...
The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion, Direct Conversion Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Materials 37,500 EUP 2,000 EUP 39,500 EUP 37,500 EUP 1,200 EUP...
The following partially completed process cost summary describes the July production activities of the Molding department...
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The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion. Equivalent Units of Production Units transferred out Units of ending work in process Equivalent units of production Direct Materials 39,500 EUP 4,000 EUP 43,500 EUP Conversion com 39,500 EUP 2,400...
The following partially completed process cost summary
describes the July production activites of the Molding department
at Ashad Company. Its production output is sent to the next
department. All direct materials are added to products when
processing begins. Beginning work in process inventory is 20%
complete with respect to conversion.
Required information [The following information applies to the questions displayed below.) The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company....
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account for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 700,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 180,000 units that are 30%
complete with respect to conversion. Beginning inventory had
$420,000 of direct materials and $139,000 of conversion cost. The
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