Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Units Percent Completed Conversion 60% 45% 47,000 32,000 Materials Work in process, October 1 Work in process, October 31 The department started 391,000 units into production during the month and transferred 406,000 completed units to the next department. 85% 66% Required: Compute the equivalent units of production for October.

Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October: Units Percent Completed Conversion 60% 45% 47,000 32,000 Materials Work in process, October 1 Work in process, October 31 The department started 391,000 units into production during the month and transferred 406,000 completed units to the next department. 85% 66% Required: Compute the equivalent units of production for October.

Name: Exercise 4-2 (Algo) Equivalent Units of Production-Weighted-Average M
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Description: Exercise 4-2 (Algo) Equivalent Units of Production-Weighted-Average Method [LO 4-2]Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for onedepartment for October:UnitsEquival

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 2CMA: Jones Corporation uses a first-in, first-out (FIFO) process cost system. Jones has the following...

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Cost per equivalent unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of 9,000 of direct materials. A. Determine the number of units transferred to the next department. B. Determine the costs per equivalent unit of direct materials and conversion. C. Determine the cost of units started and completed in November.
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Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during October: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 13,000 units finished and transferred to stockroom Work in process, end of period, 2,000 units one-half completed Required: Prepare a cost of production summary for October.
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Jones Corporation uses a first-in, first-out (FIFO) process cost system. Jones has the following unit information for the month of August: The equivalent units of production for conversion costs for the month of August were: a. 87,300 units. b. 88,000 units. c. 92,300 units. d. 92,700 units.
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Basic Cost Flows Linsenmeyer Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for September: During September, 18,000 components were completed. There is no beginning or ending WIP in any department. Required: 1. Prepare a schedule showing, for each department, the cost of direct materials, direct labor, applied overhead, product transferred in from a prior department, and total manufacturing cost. 2. Calculate the unit cost. (Note: Round the unit cost to two decimal places.)
The standard cost summary for the most popular product of Phenom Products Co. is shown as follows, together with production and cost data for the period. One gallon each of liquid lead and varnish are added at the start of processing. The balance of the materials is added when the process is two-thirds complete. Labor and overhead are added evenly throughout the process. There were no units in process at the beginning of the month. Required: Calculate equivalent production for materials, labor, and overhead. (Be sure to refer to the standard cost summary to help determine the percentage of materials in ending work in process.) Calculate materials and labor variances and indicate whether they are favorable or unfavorable, using the diagram format shown in Figure 8-4. Determine the cost of materials and labor in the work in process account at the end of the month.
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