Provide answer please Q-1The following data were provided by Boze Co.BWIPUnits Percent complete conversion10075%Units started 10,000EWIP15040%Assuming the LIFO method is used, what was the EUP for conversion cost?a. 10,250b. 10,040c. 9,935d. 9,910Q-2Department for May, together with data concerning production, are as follows:May 1, work in process:Materials cost, 3,000 units$8,800Conversion costs, 3,000 units, 50% completed5,700Materials added during May, 10,000 units25,600Conversion costs during May31,900Goods finished during May, 11,500 units0May 31 work in process, 1,500 units, 50% completed 0All direct materials are placed in the process at the beginning, and the first-in, first-out method is used to cost inventories. Thematerials cost per equivalent unit for May is:a. $3.19b. $2.23c. $2.56d. $4.07

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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PROBLEM 24: Cost of Production Report (Continuous) RMG Corporation has the following information for the current month: Units started 175,000 35,000 units Beginning Work in Process: (65% to be done) Total spoilage Spoilage within tolerance level Ending Work in Process: (20% incomplete) units 14,875 units units 6,125 25,375 units Transferred out ? units
If 500 units were one-fourth completed at May 31, 5,500 units were completed during May, and the first-in, first-out method is used, what was the number of equivalent units of production with respect to conversion costs for May? a. 4,875 b. 4,500 c. 5,625 d. 5,500 2. What is the conversion cost per equivalent unit? a. $10 b. $25 c. $32 d. $15
The equivalent units of production for conversion costs for January is Select one: O a. 47450 O b. 46,200 O . None of the answers are correct O d. 53,200 O e. 52,000
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UrUCr quantny (EUQ). V C.S. 50 10% C in respect of which the following apply: Raw materials Minimum level Usage Order level Re-order Delivery period (weeks) Price per unit of product kg quantity per kg Re kg 1 to 3 3 to 5 2 to 4 8,000 4,750 10 10,000 0.10 4. 5.000 10.000 0.30 2,000 C. 0.15 the quantities of the following to be: (a) Minimum stock of A, (b) Maximum stock level of B, (c) Re-order level of C, and (d) Average stock level of A ? (B.Com., Madras; C.A. Inter
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1. Information for the month of January concerning Department A, the first stage of Angeles Company's production cycle, is as follows: Materials P 8,000 40,000 P 48,000 100,000 P0.48 Conversion BWIP Current Costs Total Costs P 6,000 32,000 P 38,000 95,000 P 0.40 EUP using weighted average method Average unit costs Goods completed -90,000 units 10,000 units --- EWIP ---- Materials are added at the beginning of the process. The ending WIP is 50% complete as to conversion costs. a. How would the total costs accounted for be distributed to GOODS COMPLETED, using the weighted average method? b. How woluld the total costs accounted for be distributed to ENDING WIP, using the weighted average method?
PROBLEM 2 Department A is the first stage of Mann Company's production cycle. The following information is available for conversion costs for the month of April 2011: UNITS Work in process, beginning (60% complete) Started in April Completed in April and transferred to Department B Work in process, ending (40% complete) 20, 000 340, 000 320, 000 40, 000 1. The equivalent units for the conversion cost calculation under FIFO method is 2. The equivalent units for the conversion cost calculation under average method is
Part B: Assuming Wildhorse uses the FIFO method of process costing, complete Step 4 to determine its cost per equivalent unit for both DM and conversion costs. (Round cost per equivalent unit answers to 2 decimal places, e.g. 15.25.) DM Conversion Costs Total equivalent units of work done this period (FIFO) 29,000 26,000 STEP 4 Calculate Cost Per Equivalent Unit DM Conversion Cost select an item Correct answer $enter a dollar amount Correct answer $enter a dollar amount Correct answer select an item Correct answer enter a number of unitsCorrect answer enter a number of unitsCorrect answer select a closing name Correct answer $enter a dollar amount rounded to 2 decimal places $enter a dollar amount rounded to 2…

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