Homework Answers
| a) | ||
| Units in beginning work in process inventory | 25,200 | |
| Add: Units started | 81,000 | |
| Less: Units in ending work in process inventory | -15,600 | |
| Units completed and transferred | 90,600 | |
| b) | Materials | Conversion |
| Units completed and transferred (90,600*100/100); (90,600*100/100) | 90,600 | 90,600 |
| Units in ending work in process inventory (15,600*100/100); (15,600*20/100) | 15,600 | 2,340 |
| Equivalent Units | 106,200 | 92,940 |
| c) | Materials | Conversion |
| Beginning work in process costs | $36,000 | $24,900 |
| Add: Costs added during the period | $123,000 | $246,000 |
| Total costs accounted for (a) | $159,000 | $270,900 |
| Equivalent units (b) | 106,200 | 92,940 |
| Cost per Equivalent Unit (a/b) | $1.4972 | $2.9148 |
| d) | ||
| Costs transferred to finished goods: | ||
| Direct materials (90,600 units * $$1.4972) | $135,644 | |
| Conversion (90,600 units * $2.9148) | $264,079 | |
| Total costs of units transferred to finished goods | $399,723 | |
| e) | ||
| Cost of Ending work in process: | ||
| Direct materials (15,600 units * $1.4972) | $23,356 | |
| Conversion (2,340 units * $2.9148) | $6,821 | |
| Cost of Ending work in process | $30,177 |
Add Answer to:
Sierra Co. has provided the following information: 25,200 units $ 36,000 $ 24,900 81,000 units Work...
Sierra Co. has provided the following information: 9 99 Work in Process: Feb 1 (100% complete...
Sierra Co. has provided the following information: 9 99 Work in Process: Feb 1 (100% complete for materials, 68% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $ 32,000 80,400 units $129,000 $236,000 15,400 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed and transferred 91,700...
Sierra Co. has provided the following information: 25,300 units $ 36,200 $ 32,200 80,800 units Work...
Sierra Co. has provided the following information: 25,300 units $ 36,200 $ 32,200 80,800 units Work in Process: Feb 1 (1008 complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $126,000 $ 251,000 16,600 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed...
Costs Units 40,000 $ 42,000 97,000 $ 139,000 66,000 Beginning work in process (26% complete) Direct...
Costs Units 40,000 $ 42,000 97,000 $ 139,000 66,000 Beginning work in process (26% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (52% complete) Current period costs Direct materials Conversion cost Total current period costs 88,000 $ 99,000 148,000 $ 247,000 Required: 1 & 2. Using the weighted average method of process costing, complete each of the following steps:...
Kramer Corp. began the current period with 4,100 units in process that were 100% complete as...
Kramer Corp. began the current period with 4,100 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,600 in direct materials and $4,840 in conversion costs were incurred in manufacturing those units in the previous period, Kramer ended the current period with 20700 units completed and 5,140 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $69,500 in...
Kramer Corp. began the current period with 4,090 units in process that were 100% complete as...
Kramer Corp. began the current period with 4,090 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,670 in direct materials and $4,770 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 21,200 units completed and 5,070 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,100 in...
USING FIFO Check my Alvis Construction Supply Company has a department that manufactures wood trusses (wood...
USING FIFO
Check my Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February Work-in-process inventory, February 1 Direct materials: ieex complete Conversion: 3e% complete Units started during February Units completed during February and transferred out Work-in-process inventory, February 29 Direct materials: les complete Conversion: 38% complete Costs incurred during February Direct materials Conversion 4,600 trusses $11,089...
Silver Company manufactures kites and has the following information available for the month of April: Work...
Silver Company manufactures kites and has the following
information available for the month of April:
Work in process, April 1
(100% complete for materials, 40% for conversion)
44,000
units
Direct materials
$
72,000
Conversion cost
$
102,000
Number of units started
150,000
units
April costs
Direct materials
$
218,000
Conversion cost
$
328,000
Work in process, April 30
(100% complete for materials, 20% for conversion)
76,000
units
Required:
Using the weighted-average method, complete each of the
following steps:
2. Calculate...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, L04-5] [The following information applies to the...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, L04-5] [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Work in Process-Mixing...
Legacy Company manufactures umbrellas and has the following information available for the month of May Work in process,...
Legacy Company manufactures umbrellas and has the following information available for the month of May Work in process, May 1 (100% complete for materials, 86% for conversion) Direct materials Conversion cost 78,000 units $131,000 $176,000 Number of units started 183,000 units May costs Direct materials Conversion cost $200,000 $377,000 Work in process, May 31 (100% complete for materials, 22% for conversion) 57,000 units Required: Using the weighted-average method of process costing, complete each the following steps: 1. Reconcile the number...
Required information [The following information applies to the questions displayed below.] Clopack Company manufactures one product...
Required information [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): Work in Process—Mixing Department June 1 balance 32,000 Completed and transferred to Finished Goods ?...
Sierra Co. has provided the following information: 9 99 Work in Process: Feb 1 (100% complete for materials, 68% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $ 32,000 80,400 units $129,000 $236,000 15,400 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed and transferred 91,700...
Sierra Co. has provided the following information: 25,300 units $ 36,200 $ 32,200 80,800 units Work in Process: Feb 1 (1008 complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) $126,000 $ 251,000 16,600 units Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods? Units completed...
Costs Units 40,000 $ 42,000 97,000 $ 139,000 66,000 Beginning work in process (26% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (52% complete) Current period costs Direct materials Conversion cost Total current period costs 88,000 $ 99,000 148,000 $ 247,000 Required: 1 & 2. Using the weighted average method of process costing, complete each of the following steps:...
Kramer Corp. began the current period with 4,100 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,600 in direct materials and $4,840 in conversion costs were incurred in manufacturing those units in the previous period, Kramer ended the current period with 20700 units completed and 5,140 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $69,500 in...
Kramer Corp. began the current period with 4,090 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,670 in direct materials and $4,770 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 21,200 units completed and 5,070 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,100 in...
USING FIFO
Check my Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February Work-in-process inventory, February 1 Direct materials: ieex complete Conversion: 3e% complete Units started during February Units completed during February and transferred out Work-in-process inventory, February 29 Direct materials: les complete Conversion: 38% complete Costs incurred during February Direct materials Conversion 4,600 trusses $11,089...
Silver Company manufactures kites and has the following
information available for the month of April:
Work in process, April 1
(100% complete for materials, 40% for conversion)
44,000
units
Direct materials
$
72,000
Conversion cost
$
102,000
Number of units started
150,000
units
April costs
Direct materials
$
218,000
Conversion cost
$
328,000
Work in process, April 30
(100% complete for materials, 20% for conversion)
76,000
units
Required:
Using the weighted-average method, complete each of the
following steps:
2. Calculate...
Required information The Foundational 15 (LO4-1, LO4-2, LO4-3, L04-4, L04-5] [The following information applies to the questions displayed below.] Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): June 1 balance Work in Process-Mixing...
Legacy Company manufactures umbrellas and has the following information available for the month of May Work in process, May 1 (100% complete for materials, 86% for conversion) Direct materials Conversion cost 78,000 units $131,000 $176,000 Number of units started 183,000 units May costs Direct materials Conversion cost $200,000 $377,000 Work in process, May 31 (100% complete for materials, 22% for conversion) 57,000 units Required: Using the weighted-average method of process costing, complete each the following steps: 1. Reconcile the number...
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