Completed and in ProcessWork in Process-Assembly Departmentgether with information concerninge as follows. All direct materials are placedhe beginning of production.completedunits @ $2.1OetedWork in Process-Assembly Department14,340 To Finished Goods, 92,000 units197,400197,50076,840alent units of $2.10 for Direct MaterialsConversion Costs.he above data, determine the different.OW.ound your interim calculations to twoes.inning work in process inventory completedEs transferred to finished goods during theling work in process inventorynit of the completed beginning work in processunded to the nearest cent.)duction costs change from the precedinghat the direct materials cost per unit didm the preceding period, did thets per equivalent unit increase, decrease,same for the current period?0000 Cost of Units Completed and in ProcessThe charges to Work in Process-Assembly Departmentfor a period, together with information concerningproduction, are as follows. All direct materials are placedin process at the beginning of production.Work in Process-Assembly DepartmentBal., 4,000 units, 55% completedDirect materials, 94,000 units @ $2.1Direct laborFactory overheadBal., 2 units, 80% completed14,340 To Finished Goods, 92,000 units197,400197,50076,840Cost per equivalent units of $2.10 for Direct Materialsand $2.90 for Conversion Costs.a. Based on the above data, determine the differentcosts listed below.If required, round your interim calculations to twodecimal places.1. Cost of beginning work in process inventory completedthis period2. Cost of units transferred to finished goods during theperiod3. Cost of ending work in process inventory4. Cost per unit of the completed beginning work in procinventory (Rounded to the nearest cent.)b. Did the production costs change from the precedingperiod?c. Assuming that the direct materials cost per unit didnot change from the preceding period, did theconversion costs per equivalent unit increase, decrease,or remain the same for the current period?

Name: Completed and in ProcessWork in Process-Assembly Departmentgether wit
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Description: Completed and in ProcessWork in Process-Assembly Departmentgether with information concerninge as follows. All direct materials are placedhe beginning of production.completedunits @ $2.1OetedWork in Process-Assembly Department14,340 To Finished Good

Production report refers to the report under which details of the product manufactured, at what…

Business

Accounting

a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory complete this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in pro inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?

a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory complete this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in pro inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 16E: Cost of production report The debits to Work in ProcessRoasting Department for Morning Brew Coffee...

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The Converting Department of Tender Soft Tissue Company uses the weighted average method and had 1,900 units in work in process that were 60% complete at the beginning of the period. During the period, 15,800 units were completed and transferred to the Packing Department. There were 1,200 units in process that were 30% complete at the end of the period. a. Determine the number of whole units to be accounted for and to be assigned costs for the period. b. Determine the number of equivalent units of production for the period. Assume that direct materials are placed in process during production.
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Selected information from Hernandez Corporation shows the following: Prepare journal entries to record the following: raw material purchased direct labor incurred depreciation expense (hint: this is part of manufacturing overhead) raw materials used overhead applied on the basis of $0.50 per machine hour the transfer from department 1 to department 2
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Conte Chemical Co. uses the weighted average cost method. All materials are added at the start of the production process. Labor and overhead are added evenly at the same rate throughout the process. Contes records indicate the following data for May: Ending work in process, on May 31, is 75% completed as to labor and factory overhead. Make the following calculations: a. Equivalent units for direct materials b. Equivalent units for labor and overhead (Hint: first determine the ending units in work in process.)
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Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 80,000 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 17,000 units, 25 percent complete with respect to conversion costs. d. Started in process, 95,000 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method.
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