Question
In: Accounting
Problem 16-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 [The...
Problem 16-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3
[The following information applies to the questions
displayed below.]
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 740,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 191,000 units that are 70%
complete with respect to conversion. Beginning inventory had
$544,635 of direct materials and $218,425 of conversion cost. The
direct material cost added in November is $3,644,865, and the
conversion cost added is $4,150,075. Beginning work in process
consisted of 70,000 units that were 100% complete with respect to
direct materials and 80% complete with respect to conversion. Of
the units completed, 70,000 were from beginning work in process and
670,000 units were started and completed during the period.
Problem 16-2A Part 3
3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.)
EUP Cost per EUP Total cost
Cost of units transferred out:
Direct materials
Conversion
Total costs transferred out
Cost of ending work in process
Direct materials
Conversion
Total cost of ending work in process
Total costs accounted for
Solutions
Expert Solution
The answer has been presented in the supporting sheets. All the parts has been solved with detailed explanation and format .For detailed answers refer to the supporting sheets.
ekkarill92 answered 10 months agoRelated Solutions
Problem 20-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 [The...
Problem 20-2A Weighted average: Cost per equivalent unit; costs
assigned to products LO C2, C3
[The following information applies to the questions
displayed below.]
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 730,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 183,000 units...
Problem 16-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 Fast Co. produces...
Problem 16-3A Weighted Average: Process cost summary; equivalent
units LO C2, C3, P4
Fast Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and conversion costs are added evenly throughout the process. The
company uses monthly reporting periods for its weighted-average
process costing system. The Work in Process Inventory account has a
balance of $95,300 as of October 1, which consists of $20,400 of
direct materials and $74,900 of conversion costs....
Problem 16-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 Fast Co. produces...
Problem 16-3A Weighted Average: Process cost summary; equivalent
units LO C2, C3, P4
Fast Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and conversion costs are added evenly throughout the process. The
company uses monthly reporting periods for its weighted-average
process costing system. The Work in Process Inventory account has a
balance of $104,300 as of October 1, which consists of $23,100 of
direct materials and $81,200 of conversion costs....
Problem 20-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4 [The...
Problem 20-4A Weighted average: Process cost summary, equivalent
units, cost estimates LO C2, C3, P4
[The following information applies to the questions
displayed below.]
Tamar Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Conversion costs are added evenly throughout the process.
During May, the company completed and transferred 23,200 units of
product to finished goods inventory. Its 3,200 units of beginning
work in process consisted of $20,000 of...
Problem 20-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4 Tamar...
Problem 20-4A Weighted average: Process cost summary, equivalent
units, cost estimates LO C2, C3, P4
Tamar Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Conversion costs are added evenly throughout the process.
During May, the company completed and transferred 29,200 units of
product to finished goods inventory. Its 4,400 units of beginning
work in process consisted of $21,200 of direct materials and
$284,940 of conversion costs. It has...
Required information Problem 3-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3,...
Required information
Problem 3-4A Weighted average: Process cost summary, equivalent
units, cost estimates LO C2, C3, P4
[The following information applies to the questions
displayed below.]
Tamar Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Conversion costs are added evenly throughout the process.
During May, the company completed and transferred 22,700 units of
product to finished goods inventory. Its 3,100 units of beginning
work in process consisted of...
Problem 20-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 Fast Co. produces...
Problem 20-3A Weighted Average: Process cost summary; equivalent
units LO C2, C3, P4
Fast Co. produces its product through a single processing
department. Direct materials are added at the start of production,
and conversion costs are added evenly throughout the process. The
company uses monthly reporting periods for its weighted-average
process costing system. The Work in Process Inventory account has a
balance of $98,100 as of October 1, which consists of $21,000 of
direct materials and $77,100 of conversion costs....
Problem 16-7AA FIFO: Process cost summary, equivalent units, cost estimates LO C2, C3, C4, P4 [The...
Problem 16-7AA FIFO: Process cost summary, equivalent units,
cost estimates LO C2, C3, C4, P4
[The following information applies to the questions
displayed below.]
Dengo Co. makes a trail mix in two departments: roasting and
blending. Direct materials are added at the beginning of each
process, and conversion costs are added evenly throughout each
process. The company uses the FIFO method of process costing.
During October, the roasting department completed and transferred
23,000 units to the blending department. Of the...
Problem 16-7AA FIFO: Process cost summary, equivalent units, cost estimates LO C2, C3, C4, P4 [The...
Problem 16-7AA FIFO: Process cost summary, equivalent units,
cost estimates LO C2, C3, C4, P4
[The following information applies to the questions
displayed below.]
Dengo Co. makes a trail mix in two departments: roasting and
blending. Direct materials are added at the beginning of each
process, and conversion costs are added evenly throughout each
process. The company uses the FIFO method of process costing.
During October, the roasting department completed and transferred
26,000 units to the blending department. Of the...
Problem 20-7AA FIFO: Process cost summary, equivalent units, cost estimates LO C2, C3, C4, P4 [The...
Problem 20-7AA FIFO: Process cost summary, equivalent units,
cost estimates LO C2, C3, C4, P4
[The following information applies to the questions
displayed below.]
Dengo Co. makes a trail mix in two departments: roasting and
blending. Direct materials are added at the beginning of each
process, and conversion costs are added evenly throughout each
process. The company uses the FIFO method of process costing.
During October, the roasting department completed and transferred
25,800 units to the blending department. Of the...
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