Question
In: Accounting
At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs...
At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include:
Beginning WIP direct materials $32,000
Beginning WIP conversion costs $25,250
Costs of materials added $393,100
Costs of conversion added $275,125
WIP beginning (50% for conversion) 21,200 units
Units started 128,500 units
Units completed and transferred out 105,700 units
WIP ending (60% for conversion) 44,000 units
What is the total cost of units remaining in ending WIP? (Round intermediate calculations to the nearest cent and the final answer to the nearest dollar.)
Solutions
ekkarill92 answered 1 year agoRelated Solutions
At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs...
At Hodgson Corporation, direct materials are added at the
beginning of the process and conversions costs are uniformly
applied. Other details include: Beginning WIP direct materials
$35,000 Beginning WIP conversion costs $29,250 Costs of materials
added $389,100 Costs of conversion added $275,125 WIP beginning
(50% for conversion) 21,200 units Units started 127,500 units
Units completed and transferred out 110,700 units WIP ending (60%
for conversion) 38,000 units What is the total cost of units
remaining in ending WIP?
At OxyCorp, direct materials are added at the beginning of the process and conversions costs are...
At OxyCorp, direct materials are added at the beginning of the
process and conversions costs are uniformly applied. Other details
include
WIP beginning (55% for conversion)
13,700 units
Units started
125,000 units
Units completed and transferred out
116,500 units
WIP ending (35% for conversion)
22,200 units
Beginning WIP transfer costs
$40,000
Beginning WIP direct materials
$50,300
Beginning WIP conversion costs
$22,500
Costs of transfer costs added
$360,000
Costs of materials added
$412,000
Costs of conversion added
$301,000
Please calculate using...
At OxyCorp, direct materials are added at the beginning of the process and conversions costs are...
At OxyCorp, direct materials are added at the beginning of the
process and conversions costs are uniformly applied. Other details
include:
WIP beginning (55% for conversion)
13,700 units
Units started
125,000 units
Units completed and transferred out
116,500 units
WIP ending (35% for conversion)
22,200 units
Beginning WIP transfer costs
$40,000
Beginning WIP direct materials
$50,300
Beginning WIP conversion costs
$22,500
Costs of transfer costs added
$360,000
Costs of materials added
$412,000
Costs of conversion added
$301,000
Calculate using the...
In the Mixing Dept., the direct materials are added at the beginning of the process and...
In the Mixing Dept., the direct materials are added at the
beginning of the process and the conversion costs are incurred
evenly throughout the process. Work in process of the mixing Dept.
on March 1, 2018 consisted of 900 batches of crayons that were 60%
of the way through the production process.
The beginning balance in WIP Inventory - Mixng was $30,700 which
consited of $11,500 in direct materias cost and $19,200 in
conversion costs.
During March, 4600 batches were...
Materials are added at the beginning of the process and conversion costs are added uniformly. Work...
Materials are added at the beginning of the process and
conversion costs are added uniformly.
Work in? process, beginning:
Number of units
15 comma 00015,000
Transferredminus?in
costs
?$94,000
Direct materials? (100%)
?$22,500
Conversion costs? (75%)
?$25,400
Units
transferredminus??in:
Number of units
52 comma 50052,500
Transferredminus?in
costs
?$640,500
Units completed
41 comma 00041,000
Costs during the? period:
Direct materials
?$155,475
Conversion costs
?$213,225
Work in? process, ending:
Number of units
26 comma 50026,500
?(100% complete for materials and? 35% complete for?...
Process Costing – Packaging Department Direct materials are added 90% at the beginning of the process...
Process Costing – Packaging Department
Direct materials are added 90% at the beginning of the process
and the remaining 10% are added when the cereal is 50% complete
with the packaging process. Direct labor and overhead are added
evenly throughout the process.
Table 8 – Unit and cost information
Cost
Physical Units
Transferred-in
Direct Materials
Direct Labor
Overhead
Beg WIP
4,000 (40% complete)
$14,300
$720
$347.48
$140
Transferred In
43,964
$170,361.40
End WIP
5,000 (30% complete)
Added during Qtr 1:...
Dolls manufactures dolls. Materials are added at the beginning of the process and conversion costs are...
Dolls manufactures dolls. Materials are added at the
beginning of the process and conversion
costs are incurred evenly throughout the process. Data for July
follows:
Production Data
Units Percent Complete
Units in process, July 1 120 75%
Units started into production 380
Units in process, July 31 100 50%
Cost Data
Work in process, July 1: Costs added during the
month:
Materials $1,000 Materials $4,000
Labour 500 Labour 300
Manufacturing overhead 750 Manufacturing overhead 2,500
Required:
Using the weighted average...
Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the...
Penny, Inc. employs a process costing system. Direct materials
are added at the beginning of the process. Information about July’s
activities is as follows:
On July 1:
Beginning inventories
850 units, 60% complete
Direct materials cost
$5,000
Conversion costs
$4,000
During July:
Number of units started
15,000
Direct materials added
$155,000
Conversion costs added
$83,520
On July 31:
Ending inventories
1,600 units, 40% complete
16. Using the FIFO method, the cost per equivalent unit for
materials used during...
Bruton Inc. manufactures snowhshoes using a two-department process. Direct materials are added at the beginning of...
Bruton Inc. manufactures snowhshoes using a two-department
process. Direct materials are added at the beginning of the process
in both the Assembly Department and the Finishing Department.
Conversion costs are applied uniformly during both processing
departments. The following has been reported for the Finishing
Department for the month of October: Units in beginning work in
process (65% complete) 21,700 Units in ending work in process (75%
complete) 18,600 Units transferred in from Assembly in October
54,100 Costs in beginning work...
Direct materials are added uniformly throughout a process. Direct materials cost, BWIP $25,000 Direct materials per...
Direct materials are added uniformly throughout a process.
Direct materials cost, BWIP
$25,000
Direct materials per equivalent unit
$3.97
Completed and transferred out units
25,950
7,500 units were 35% complete with respect to direct materials
in ending WIP.
Using the weighted average method, which of the following is
TRUE ?
Answers:
a.
Direct materials cost attributed to units completed and
transferred out: $128,021.50
Direct materials cost attributed to units in ending inventory:
$29,775.00
b.
Direct materials cost attributed to units...
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