Sigman Company's inventories in process were at the following stages of completion at April 30: Number of Units Percent Complete 260 90 210 80 360 10 Equivalent units of production in ending inventory amounted to

Sigman Company's inventories in process were at the following stages of completion at April 30: Number of Units Percent Complete 260 90 210 80 360 10 Equivalent units of production in ending inventory amounted to

Name: Sigman Company's inventories in process were at the following stages o
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Description: Sigman Company's inventories in process were at the following stages of completion at April 30:Number of UnitsPercent Complete260902108036010Equivalent units of production in ending inventory amounted to

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2EB: There were 2.000 units in beginning inventory that were 70% complete with regard to conversion....

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Number of Units	Percent Complete
260	90
210	80
360	10

Similar questions

There were 2.000 units in beginning inventory that were 70% complete with regard to conversion. During the month. 15.000 units were started, and 16,000 were transferred to finished goods. The ending work in process was 55% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method?
Using the weighted-average method, compute the equivalent units of production for a new company that started 85,000 units into production and transferred 67,000 to the second department. Assume that beginning inventory was 0. Conversion is considered to occur evenly throughout the process, while materials are added at the beginning of the process. The ending inventory for Equivalent Units: Conversion is 9,000 units.
Costs per equivalent unit: Total costs for July in Roasting Department Total equivalent units Cost per equivalent unit Costs charged to production: Inventory in process, July 1 Costs incurred in July Total costs accounted for by the Roasting Department Cost allocated to completed and partially completed units: Inventory in process, July 1 balance To complete inventory in process, July 1 Cost of completed July 1 work in process Started and completed in July Transferred to Packing Department in July Inventory in process, July 31 Total costs assigned by the Roasting Department Direct Materials Direct Materials ||| Conversion Conversion 000 $ Total
Please show working Part 1 of the question, see images Part 2 of the question, Assuming that the July 1 work in process inventory includes $256,410 of direct materials, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between June and July. If required, round your answers to two decimal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit $ Change in conversion cost per equivalent unit $
The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (39% completed) Completed units during June Ending inventory (56% complete) 5,300 units 55,300 units 3,700 units The number of conversion equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories, is Oa, 50.000 unita Ob. 2.072 unita Oc. S9.000 unita Od. 53,700 unita
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process. Beginning Quarter WIP Started 1 2 3 4 Transferred Conversion Out (%) 134,350 133,550 132,503 132,515 522 337 133,245 133,432 487 134,845 134,032 What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent. Quarter 1 Quarter 2 Quarter 3 Quarter 4 Units for material costs Units for conversion costs 25 24 20 23
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work process for conversion. Given that materials are added at the beginning of the process. Beginning Quarter WIP Transferred Conversion (%) 134,350 133,550 25 522 132,593 132,515 24 337 133,245 133,432 20 487 134,845 134,032 23 What are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent. Quarter 1 Quarter 2 Quarter 3 Quarter 4 1 2 3 4 - Started Out Units for material costs Units for conversion costs
The following production data were taken from the records of the finishing department for June: Inventory in process, June 1, 25% completed Transferred to finished goods during June Equivalent units of production during June Determine the number of equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs. x Oa. 320 units Ob. 480 units Oc. 400 units Od. 600 units 420 units. 4,500 units 4,795 units
The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (33% completed) 6,000 units Completed units during June 63,900 units Ending inventory (56% complete) 3,400 units The number of conversion equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories, is Oa. 61,300 units Ob. 57,900 units Oc. 1,904 units Od. 67,300 units
Problem 8-59 (Static) Prepare a Production Cost Report: Weighted-Average Method (LO 8-3, 4) Mercier Manufacturing produces a plastic part in three sequential departments: Extruding, Fabricating, and Packaging. Mercier uses the weighted-average process costing method to account for costs of production in all three departments. The following information was obtained for the Fabricating Department for the month of September. Work in process on September 1 had 15,000 units made up of the following: Direct materials Direct labor Prior department costs transferred in from the Extruding Department Costs added by the Fabricating Department Direct materials. Direct labor Manufacturing overhead. Work in process, September 1 During September, 75,000 units were transferred in from the Extruding Department at a cost of $356,250. The Fabricating Department added the following costs: Manufacturing overhead Total costs added $ 214, 200 64,800 33,480 $ 312,480 Direct materials Direct labor…
4 Running Company had the following information for the month of June Work in process beginning inventory, June 1 Units transferred in Work in process ending inventory, June 30 Beginning work-in-process inventory is 30 percent complete as to conversion. Ending work-in-process Inventory is 50 percent complete as to conversion. Materials are added at the end of the process. 2,900 18,700 4,900 units units units The equivalent units for materials under the weighted-average method are calculated to be: OA) 14.250 OB) 10,000 OC 16.700 OD 10,150 E21,150
The following data show the units in beginning work in process inventory, the number of snits started, the number of units transferred, and the penant completion of the beginning of the process. Beginning Transferred Conversion Quarter WIP Started Out (1) 134,200 133,400 132,591 132,490 25 24 20 133,245 133,464 480 134,843 134,132 22 What are the equivalent units for material and conversion costs for each quarter using the weighted average method Assume that the quarters are Quarter 2 Quarter 3 Quarter 4 2 3 524 339 Units for material costs Units for conversion costs Quarter 1