Question

In: Accounting

Transferred-In Cost Energetics Inc. produces a protein drink and uses the weighted-average method. The product is...

Transferred-In Cost Energetics Inc. produces a protein drink and uses the weighted-average method.

The product is sold by the liter. The company has two departments: Mixing and Bottling.

For July, the bottling department had 56,400 liters in beginning inventory (with transferred-in costs of $213,000) and completed 208,000 liters during the month.

Further, the mixing department completed and transferred out 297,000 liters at a cost of $658,000 in July.

Required: 1. Prepare a physical flow schedule for the bottling department.

Energetics Inc. Physical Flow Schedule For the Month of July Physical flow schedule: Units in beginning work in process units started during the period Total units to account for Units completed and transferred out:

Units started and completed

Units completed from beginning work in process

Units in ending work in process

Total units accounted for 2.

Calculate equivalent units for the transferred-in category.

If required, round your answer to the nearest unit. equivalent units 3.

Calculate the unit cost for the transferred-in category. If required, round your answer to the nearest cent.

$ per unit

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Transferred-in costs, weighted-average method.
Transferred-in costs, weighted-average method. Publish, Inc. has two departments: Printing and Binding. Each department has one direct-cost category (direct materials) and one indirect-cost category (conversion costs). This problem focuses on the Binding Department Books that have undergone the printing process are immediately transferred to the Binding Department Direct material is added when the binding process is 80% complete. Conversion costs are added evenly during binding operations. When those operations are done, the books are immediately transferred to Finished Goods. Publish...
25. Assigning Costs to Products: Weighted Average Method. Sydney, Inc., uses the weighted average method for...
25. Assigning Costs to Products: Weighted Average Method. Sydney, Inc., uses the weighted average method for its process costing system. The Assembly department at Sydney, Inc., began April with 6,000 units in work-in-process inventory, all of which were completed and transferred out during April. An additional 8,000 units were started during the month, 3,000 of which were completed and transferred out during April. A total of 5,000 units remained in workin- process inventory at the end of April and were...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 65,000 $ 54,200 $ 21,800 $ 32,300 Units started in process 619,000 Units transferred out 640,000 Work in process inventory, ending 44,000 Cost added during the month $ 717,220 $ 269,480 $ 398,000 The beginning work in process inventory was 90%...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 65,000 $ 54,200 $ 21,800 $ 32,300 Units started in process 619,000 Units transferred out 640,000 Work in process inventory, ending 44,000 Cost added during the month $ 717,220 $ 269,480 $ 398,000 The beginning work in process inventory was 90%...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 79,000 $ 99,000 $ 34,200 $ 46,700 Units started in process 749,000 Units transferred out 770,000 Work in process inventory, ending 58,000 Cost added during the month $ 1,297,800 $ 523,355 $ 598,120 The beginning work in process inventory was 80%...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 61,000 $ 49,700 $ 10,600 $ 24,300 Units started in process 579,000 Units transferred out 600,000 Work in process inventory, ending 40,000 Cost added during the month $ 894,815 $ 289,225 $ 347,070 The beginning work in process inventory was 70%...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 91,000 $ 92,400 $ 47,900 $ 62,400 Units started in process 869,000 Units transferred out 890,000 Work in process inventory, ending 70,000 Cost added during the month $ 1,222,200 $ 590,350 $ 770,100 The beginning work in process inventory was 90%...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 97,000 $ 101,200 $ 54,300 $ 69,600 Units started in process 918,000 Units transferred out 940,000 Work in process inventory, ending 75,000 Cost added during the month $ 1,337,925 $ 669,050 $ 859,025 The beginning work in process inventory was 90%...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 63,000 $ 54,400 $ 22,100 $ 26,900 Units started in process 599,000 Units transferred out 620,000 Work in process inventory, ending 42,000 Cost added during the month $ 802,980 $ 360,030 $ 420,035 The beginning work in process inventory was 80%...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 5,000 $ 4,320 $ 1,040 $ 1,790 Units started in process 45,000 Units transferred out 42,000 Work in process inventory, ending 8,000 Cost added during the month $ 52,800 $ 21,500 $ 32,250 The beginning work in process inventory was 80%...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT