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1. Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning...

1. Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred.

The physical units in beginning inventory are 30% complete with respect to conversion costs and the ending inventory is 70% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 180 units

Units transferred out 290 units

Units in ending inv. 150 units

Conversion costs $241,000

Cost of direct materials $205,000

Beginning work-in-process costs: Materials $123,000 Conversion $121,000

Using the weighted average method, what is the cost per eu for conversion costs?

2.  

Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred.

The physical units in beginning inventory are 80% complete with respect to conversion costs and the ending inventory is 50% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 190 units

Units transferred out 240 units

Units in ending inv. 180 units

Conversion costs $209,000

Cost of direct materials $239,000

Beginning work-in-process costs: Materials $138,000 Conversion $140,000

Using the FIFO method, what is the cost per eu for conversion costs?

2.  

Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 40% complete with respect to conversion costs and the ending inventory is 60% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 170 units

Units transferred out 280 units

Units in ending inv. 140 units

Beginning work-in-process costs: Materials $137,000   Conversion $102,000

The DM cost/eu was determined to be $900. The CC cost/eu was determined to be $960.

Using the weighted average method, how much conversion cost is assigned to units transferred out?

4.

Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 40% complete with respect to conversion costs and the ending inventory is 80% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 170 units

Units transferred out 270 units

Units in ending inv. 190 units

Beginning work-in-process costs: Materials $139,000   Conversion $135,000

The DM cost/eu was determined to be $820. The CC cost/eu was determined to be $930.

Using FIFO, how much conversion cost is assigned to units transferred out?

5.

Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 70% complete with respect to conversion costs and the ending inventory is 30% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 190 units

Units transferred out 260 units

Units in ending inv. 170 units

Beginning work-in-process costs: Materials $148,000 Conversion $126,000

The DM cost/eu was determined to be $860 The CC cost/eu was determined to be $940.

How much conversion cost is assigned to ending inventory using the weighted average method?

6.

Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 30% complete with respect to conversion costs and the ending inventory is 20% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 210 units

Units transferred out 250 units

Units in ending inv. 140 units

Beginning work-in-process costs: Materials $128,000   Conversion $137,000

The DM cost/eu was determined to be $810. The CC cost/eu was determined to be $950.

How much conversion cost is assigned to ending inventory using FIFO?

7.

Four Seasons Company makes snow blowers. No materials are added to the process, but the transferred in units are treated as a direct material that is added the beginning of the process. This means that beginning and ending inventories are 100% complete. The conversion costs are uniformly incurred. The physical units in beginning inventory are 20% complete with respect to conversion costs and the ending inventory is 30% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 180 units

Units transferred out 270 units

Units in ending inv. 160 units

Added conversion costs $218,000

Added Transferred in costs $203,000

Beginning work-in-process costs: Transferred in cost $134,000 Conversion $139,000

Using the weighted average method, what is the transferred-in cost per eu ?

8.

Four Seasons Company makes snow blowers. No materials are added to the process, but the transferred in units are treated as a direct material that is added the beginning of the process. This means that beginning and ending inventories are 100% complete. The conversion costs are uniformly incurred. The physical units in beginning inventory are 50% complete with respect to conversion costs and the ending inventory is 30% complete with respect to conversion costs.

Other data for the month include:

Beginning WIP inventory 220 units

Units transferred out 250 units

Units in ending inv. 160 units

Added conversion costs $237,000

Added Transferred in costs $219,000

Beginning work-in-process costs: Transferred in cost $128,000 Conversion $142,000

Using FIFO, what is the transferred in cost per eu?

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Answer #1

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Question is of process costing for Four Seasons Company - FIFO and Weighted Average.

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. Question 1 A1. uantities Equivalent Units Whole Units Materials Conversion Cost Units to be account for Work in Process, Beginning add:Started into production Total Units 180 260 440 100%, 30% 440-180 Units accounted for Transferred out Work in Process, Endin Equivalent Units-Weig 290 150 440 290 150 440 290 105 100% and 70% 395 100%, 70% 100% 70% Average Cost Materials S 123,000 $ $ 205,000 $ Convsersion Cost Total Work in Process, Beginning add Started into production Total Cost to account for Equivalent Units Unit Cost 121,000 244,000 241,000 446,000 362,000 690,000 328,000 $ 440 395 Total Cost/Equivalent Units $745.45 916.46 1,661.91 Cost per EU for Conversion Cost S916.46 Question 2 A1. Equivalent Units Whole Units Materials Conversion Cost Complete Units to be account for Work in Process, Beginning Units Started and Completed Work in Process, Ending Equivalent Units-Weighted Average 100%, 80% 240-190 100%, 50% 190 50 180 420 0 50 180 230 100% 100% 100% 80% 100% 50% 50 90 80% and 30% 178 A2. Cost Materials Convsersion Cost Total 239,000 $ $239,000$ $1,039.13 $ Cost added during Period Total Cost to account for Equivalent Units Unit Cost 209,000 448,000 209,000 448,000 1,174.16 2,213.29 230 178 Total Cost/Equivalent Units Cost per EU for Conversion Cost $ 1,174.16Question 3 uantities Equivalent Units Whole Units Materials Conversion Cost Units to be account for Work in Process, Beginning add:Started into production Total Units 170 250 420 100%, 40% 440-180 Units accounted for Transferred out Work in Process, Endin Equivalent Units-Weighted Average 280 140 420 280 140 420 280 100%, 60% 84 100% and 60% 364 100% Material Conversion Total Unit Completed and transferred out Equivalent Units Cost per Equivalent Unit Total Cost Accounted For Given in Que 960 $ 252,0o0 $ 268,800 $ 520,800 Conversion Cost assigned to Units transferred out $ 268,800 Question 4 uantities Equivalent Units Whole Units Materials Conversion Cost Complete Units to be account for Work in Process, Beginning Units Started and Completed Work in Process, Endin Equivalent Units-Weighted Average 100%, 40% 170-170 100%, 80% 170 100 190 460 100% 100% 100% 0 100 100 152 366 100% 290 Cost of Units Transferred out Cost in Beginning WIP Cost of Complete Beginning WIP Equivalent Units-Beginning Cost per Equivalent Unit Cost to Complete Beginning WIP Cost of Units Started and Completed Units Started and Completed Cost per Equivalent Unit -Cost of units started and Completed Cost of Units Transferred out: 139000 135000 274000 0 930 -$ 106,020 106,020 100 100 $82,000$93,000$ 175,000 555,020 A+B+C Conversion Cost assigned to Units transferred out $555,020

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