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
ekkarill92 answered 2 years agoRelated Solutions
Transferred-in costs, weighted-average method.
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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
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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%...
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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%...
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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%...
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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%...
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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%...
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