2. Company B uses Process Costing System(FIFO Method). Data about Company B is given below. Data...
2. Company B uses Process Costing System(FIFO Method). Data about Company B is given below.
|
Data for April |
Shaping Department |
Insertion Department |
|
Units: |
||
|
Beginning Work in Process |
---------------------------------- |
10.000 units |
|
Production started |
40.000 units |
|
|
Transferred in from Previous Department |
---------------------------------- |
? |
|
Completed Goods Inventory |
35.000 units |
40.000 units |
|
Ending WIP Inventory |
5.000 units |
5.000 units |
|
Comp. as to Direct Material |
60 % |
100 % |
|
Comp. as to Convers. Work |
80 % |
40 % |
|
Costs: |
||
|
Beginning Work in Process |
------------------------------------ |
$60.000 |
|
Transferred in from Previous Department |
------------------------------------ |
? |
|
Direct Materials Added |
$114.000 |
$135.000 |
|
Conversion Costs Added |
$117.000 |
$126.000 |
Required:
Calculate WIP Inventory- Shaping, WIP Inventory- Insertion and Finished Goods Inventory.
Homework Answers
Add Answer to:
2. Company B uses Process Costing System(FIFO
Method). Data about Company B is given below.
Data...
Question 1: Company Cuses Process Costing system. Data about Company C is given below: ✓ Required:...
Question 1: Company Cuses Process Costing system. Data about Company C is given below: ✓ Required: Calculate Costs ofWIP Inventory-Shaping, WIP Inventory-Insertion and Finished Goods Inventory Data for May Shaping Department Insertion Department Units: Beginning Work in Process 10.000 units Production started 40.000 units Transferred in From Previous ? Department Completed Goods Inv. 30.000 units 35.000 units Ending WIP Iny 10.000 units 5.000 units Comp. as to Direct Material % 50 % 60 Comp. as to Convers. Work % 25...
1. Company ATS uses Process Costing system. Data about Company ATS is given below: Shaping Department...
1. Company ATS uses Process Costing system. Data about Company ATS is given below: Shaping Department . 200.000 units Assembly Department 20000 units - Required: Data for December Beginning Work in Process Production started Transferred in From Previous Department Completed Goods Inv Ending WIP Inv. Comp. as to Direct Material Comp. as to Convers. Work Costs: Beginning Work in Process Transferred in from Previous Department Direct Materials Added Conversion Costs Added 150.000 units 50.000 units % 70 % 80 130.000...
4. Company C uses Process Costing system. Data about Company C is given below: Data for...
4. Company C uses Process Costing system. Data about Company C is given below: Data for November Shaping Department Insertion Department Units: Beginning Work in Process 50.000 units Production started 120.000 units Transfer in From Previous ? Department Completed Goods Inv. 100.000 units 120.000 units Ending WIP Inv. 20.000 units 30.000 units Comp. as to Direct Material % 80 % 50 Comp. as to Convers. Work % 50 % 60 Costs: Beginning Work in Process $ 225.000 ? Transferred in...
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that...
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and...
Reutter, Inc. makes a single product and uses the FIFO method of process costing. The company’s...
Reutter, Inc. makes a single product and uses the FIFO method of
process costing. The company’s product goes through two processing
departments – Etching and Wiring – which completes the process.
This problem focuses on the Writing department which received the
‘etched’ products and then completes them by adding appropriate
writing. In Wiring, the direct materials are placed into production
when the process is 35% complete. Conversion costs are incurred
evenly throughout the process. The relevant information for April
is...
FIFO Muskoge Company FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures...
FIFO Muskoge Company
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the...
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that...
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and...
Assignment Problem 1: ABC Company uses the FIFO method in its process costing system. The partment...
Assignment Problem 1: ABC Company uses the FIFO method in its process costing system. The partment started the month with 6,000 units in its beginning work in process inventory that Were 20% complete with respect to conversion costs. An additional 74,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 8,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect...
Reutter, Inc. makes a single product and uses the FIFO method of process costing. The company’s...
Reutter, Inc. makes a single product and uses the FIFO method of process costing. The company’s product goes through two processing departments – Etching and Wiring – which completes the process. This problem focuses on the Writing department which received the ‘etched’ products and then completes them by adding appropriate writing. In Wiring, the direct materials are placed into production when the process is 35% complete. Conversion costs are incurred evenly throughout the process. The relevant information for April is...
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to...
Kansas Supplies is a manufacturer of plastic parts that uses the
weighted-average process costing method to account for costs of
production. It produces parts in three separate departments:
Molding, Assembling, and Packaging. The following information was
obtained for the Assembling Department for the month of April.
Work in process on April 1 had 103,000 units made up of the
following.
Amount
Degree of Completion
Prior department costs transferred in from the Molding
Department
$
135,960
100
%
Costs added by...
Question 1: Company Cuses Process Costing system. Data about Company C is given below: ✓ Required: Calculate Costs ofWIP Inventory-Shaping, WIP Inventory-Insertion and Finished Goods Inventory Data for May Shaping Department Insertion Department Units: Beginning Work in Process 10.000 units Production started 40.000 units Transferred in From Previous ? Department Completed Goods Inv. 30.000 units 35.000 units Ending WIP Iny 10.000 units 5.000 units Comp. as to Direct Material % 50 % 60 Comp. as to Convers. Work % 25...
1. Company ATS uses Process Costing system. Data about Company ATS is given below: Shaping Department . 200.000 units Assembly Department 20000 units - Required: Data for December Beginning Work in Process Production started Transferred in From Previous Department Completed Goods Inv Ending WIP Inv. Comp. as to Direct Material Comp. as to Convers. Work Costs: Beginning Work in Process Transferred in from Previous Department Direct Materials Added Conversion Costs Added 150.000 units 50.000 units % 70 % 80 130.000...
4. Company C uses Process Costing system. Data about Company C is given below: Data for November Shaping Department Insertion Department Units: Beginning Work in Process 50.000 units Production started 120.000 units Transfer in From Previous ? Department Completed Goods Inv. 100.000 units 120.000 units Ending WIP Inv. 20.000 units 30.000 units Comp. as to Direct Material % 80 % 50 Comp. as to Convers. Work % 50 % 60 Costs: Beginning Work in Process $ 225.000 ? Transferred in...
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the production activity and...
Reutter, Inc. makes a single product and uses the FIFO method of
process costing. The company’s product goes through two processing
departments – Etching and Wiring – which completes the process.
This problem focuses on the Writing department which received the
‘etched’ products and then completes them by adding appropriate
writing. In Wiring, the direct materials are placed into production
when the process is 35% complete. Conversion costs are incurred
evenly throughout the process. The relevant information for April
is...
FIFO Muskoge Company
FIFO Method, Two-Department Analysis Muskoge Company uses a process-costing system. The company manufactures a product that is processed in two departments: Molding and Assembly. In the Molding Department, direct materials are added at the beginning of the process; in the Assembly Department, additional direct materials are added at the end of the process. In both departments, conversion costs are incurred uniformly throughout the process. As work is completed, it is transferred out. The following table summarizes the...
Assignment Problem 1: ABC Company uses the FIFO method in its process costing system. The partment started the month with 6,000 units in its beginning work in process inventory that Were 20% complete with respect to conversion costs. An additional 74,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 8,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect...
Kansas Supplies is a manufacturer of plastic parts that uses the
weighted-average process costing method to account for costs of
production. It produces parts in three separate departments:
Molding, Assembling, and Packaging. The following information was
obtained for the Assembling Department for the month of April.
Work in process on April 1 had 103,000 units made up of the
following.
Amount
Degree of Completion
Prior department costs transferred in from the Molding
Department
$
135,960
100
%
Costs added by...
Most questions answered within 3 hours.
-
Long term loans from commercial banks are usually readily
available to small start up firms T/F
asked 48 minutes ago -
PHP coding (please use mysqli instead of mysql)
Create an Admin Control Panel page for your...
asked 36 minutes ago -
From the perspective of a bank, a deposit is a (or an) Select
one: a. part...
asked 52 minutes ago -
Each of the statements below attempts to explain why some
periodic property varies predictably among elements...
asked 1 hour ago -
Write balanced molecular, total ionic, and net ionic equations
for the reaction between aqueous solutions of...
asked 1 hour ago -
3. Parameters of an Example Wave Function
An electron that is not localized in space is...
asked 1 hour ago -
Ahmed is standing stationary on ice holding a 6.00 kg bowling
ball. When he throws the...
asked 1 hour ago -
On January 1, 2017, Waterway Corporation purchased 20% of the
common shares of Wildhorse Company for...
asked 1 hour ago -
Java code about writing two methods:
public static String randomStringone(int length)
public static String randomStringtwo(int length)...
asked 1 hour ago -
Which one of the following capacitances in series with a 100-Ω
resistor and 15-mH coil will...
asked 1 hour ago -
Sketch the circuit diagram for an inverting amplifier, and give
component values that will produce a...
asked 1 hour ago -
i need help with this c++ data structure question
Create a new implementation of Stack that...
asked 1 hour ago