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In: Accounting
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Cost per equivalent unit of materials is: Multiple Choice $2.20. $2.07. $1.85. $1.76.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing
system. The following data are available:
Beginning inventory
-0-
Units started in production
21,600
Units finished during the
period
16,700
Units in process at the end of
the period (complete as to materials, ¼ complete as to labor and
overhead)
4,900
Cost of materials used
$
44,720
Labor and overhead costs
$
46,865
Total cost of the 16,700 units finished is: (Round
intermediate calculations to two decimal places and round your
final...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company
uses a weighted-average process costing system. The following data
are available:
Beginning
inventory
-0-
Units started in
production
22,200
Units finished
during the period
17,000
Units in process
at the end of the period
(complete as to materials,
¼ complete as to labor and overhead)
5,200
Cost of
materials used
$
48,530
Labor and
overhead costs
$
50,600
Total cost of the
17,000 units finished is:
Multiple Choice
$90,604.
$99,164.
$84,168.
$88,534.
The Poolside Company uses a FIFO process costing system. The following data are available: Beginning inventory...
The Poolside Company uses a FIFO process costing system. The
following data are available: Beginning inventory 1,000 units (100%
complete as to materials and 50% complete as to labor and
overhead); Units started in production 19,000; Units finished
during the period 16,000; Units in process at the end of the period
(100% complete as to materials and 25% complete as to labor and
overhead) 4,000; Costs in beginning inventory were materials of
$1,500 and Labor and overhead costs $1,000; Cost...
A firm that uses weighted average process costing has the following data: Beginning Inventory (2,000 physical...
A firm that uses weighted average process costing has the
following data:
Beginning Inventory (2,000 physical
units):
Direct
Materials: $2,500 100%
complete
Conversion: $4,000 80%
complete
Ending Inventory (8,000 physical
units):
Direct
Materials: 100%
complete
Conversion: 0%
complete
Current Costs:
Direct
Materials: $45,500
Conversion: $76,000
Units started during the
period 46,000
Units completed and transferred to
finished goods 40,000
Required: Calculate the cost per unit
for direct materials and conversion costs.
DIRECT MATERIALS(5
pts.): ___________________
CONVERSION COSTS(5
pts): ___________________
The Nameless Co. uses process costing
and has the following information:...
Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Gunes Corporation uses the weighted-average method in its
process costing system. This month, the beginning inventory in the
first processing department consisted of 1,500 units. The costs and
percentage completion of these units in beginning inventory
were:
Cost
Percent
Complete
Materials costs
$
11,300
65%
Conversion
costs
$
13,500
30%
A total of 9,200 units were started and 8,100 units were
transferred to the second processing department during the month.
The following costs were incurred in the first processing
department...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Domingo Corporation uses the weighted-average method in its
process costing system. This month, the beginning inventory in the
first processing department consisted of 400 units. The costs and
percentage completion of these units in beginning inventory
were:
Cost Percent Complete
Materials costs $ 5,500 50%
Conversion costs $ 1,700 20%
A total of 6,800 units were started and 6,100 units were
transferred to the second processing department during the month.
The following costs were incurred in the first processing...
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Domingo Corporation uses the weighted-average method in its
process costing system. This month, the beginning inventory in the
first processing department consisted of 1,100 units. The costs and
percentage completion of these units in beginning inventory
were:
Cost
Percent
Complete
Materials costs
$
6,200
50%
Conversion costs
$
2,400
20%
A total of 7,500 units were started and 6,800 units were
transferred to the second processing department during the month.
The following costs were incurred in the first processing
department...
Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Gunes Corporation uses the weighted-average method in its
process costing system. This month, the beginning inventory in the
first processing department consisted of 800 units. The costs and
percentage completion of these units in beginning inventory
were:
Cost
Percent
Complete
Materials costs
$
10,600
65%
Conversion costs
$
12,800
30%
A total of 8,500 units were started and 7,400 units were
transferred to the second processing department during the month.
The following costs were incurred in the first processing
department...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Annenbaum Corporation uses the weighted-average method in its
process costing system. This month, the beginning inventory in the
first processing department consisted of 400 units. The costs and
percentage completion of these units in beginning inventory
were:
Cost
Percent
Complete
Materials costs
$
5,700
65%
Conversion
costs
$
6,800
45%
A total of 6,500 units were started and 5,900 units were
transferred to the second processing department during the month.
The following costs were incurred in the first processing
department...
Atwich Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory...
Atwich Corporation uses the weighted-average method in its
process costing system. This month, the beginning inventory in the
first processing department consisted of 600 units. The costs and
percentage completion of these units in beginning inventory
were:
Cost percent complete
Material Cost $10,700 70%
Conversion Cost $13,900 50%
A total of 5,100 units were started and 4,400 units were
transferred to the second processing department during the month.
The following costs were incurred in the first processing
department during the...
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