Question

In: Accounting

The following information pertains to the Moline Facility for the month of May (all materials are...

The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process):

Units Material Costs
Beginning work in process 90,000 $ 38,000
Started in May 270,000 104,000
Units completed 250,000
Ending work in process 110,000

Required:

Compute the cost per equivalent unit for materials using the weighted-average method. (Round "Cost per equivalent unit" answer to 2 decimal places.)

Solutions

Expert Solution

Answer is $ 0.39 per EUP
UNITS TO ACCOUNT FOR:
Beginning Work in Process units 90,000
Add: Units Started in Process 2,70,000
Total Units to account for: 3,60,000
UNITS TO BE ACCOUNTED FOR:
Units completed 250000
Ending Work in Process 1,10,000
Total Units to be accounted for: 3,60,000
Equivalent Units:
UNITS Material Cost
% Completion Units
Units completed 2,50,000 100% 2,50,000
Ending Work in Process 1,10,000 100% 1,10,000
Total Equivalent units 3,60,000 3,60,000
TOTAL COST TO ACCOUNT FOR:
Material
Beginning cost of WIP 38,000
Cost added 1,04,000
Total Cost to account for: 1,42,000
Equivalent Units 3,60,000
Cost per Equivalent unit 0.39

Related Solutions

The following information pertains to the Moline Facility for the month of May (all materials are...
The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): Units Material Costs Beginning work in process 110,000 $ 31,000 Started in May 260,000 108,200 Units completed 235,000 Ending work in process 135,000 Required: Compute the cost per equivalent unit for materials using the weighted-average method. 1. Total costs to be accounted for?______ 2. Cost per equilavent unit?______
The following information is for Douglas Manufacturing Company for the month of May. All materials are...
The following information is for Douglas Manufacturing Company for the month of May. All materials are added at the beginning of the production process. Beginning Inventory 2,350 units, 40% complete Direct Materials          $7,200 Conversion                  $1,100 Current Month’s Data 10,120 units started Direct Materials          $51,612 Conversion                  $53,904 Ending Inventory 1,000 units, 70% complete Compute equivalent units of production. Compute unit costs.             c.         Compute the cost of transferred production. d.         Compute the cost of ending work in process being sure to...
The following information pertains to Amigo Corporation:       Month                        Sales &
The following information pertains to Amigo Corporation:       Month                        Sales         Purchases       July                         $30,000             $10,000       August                      34,000               12,000       September                 38,000               14,000       October                     42,000               16,000       November                 48,000               18,000       December                  60,000               20,000 ?           Cash is collected from customers in the following manner:             Month of sale (2% cash discount)     30%             Month following sale                       50%             Two months following sale              15%             Amount uncollectible                        5% ?     40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Required: a.   Prepare a summary of cash collections for the 4th quarter. b.   Prepare a summary of cash disbursements for the 4th quarter.
Vista Vacuum Company has the following production information for the month of March. All materials are...
Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units Beginning inventory of 4,400 units that are 100 percent complete for materials and 25 percent complete for conversion. 15,800 units started during the period. Ending inventory of 3,400 units that are 15 percent complete for conversion. Manufacturing Costs Beginning inventory was $21,300 ($10,100 materials and $11,200 conversion costs). Costs added during the month were $28,600...
The following information concerns production in the Baking Department for May. All direct materials are placed...
The following information concerns production in the Baking Department for May. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit May. 1 Bal., 4,200 units, 4/5 completed 7,308 31 Direct materials, 75,600 units 98,280 105,588 31 Direct labor 29,100 134,688 31 Factory overhead 16,368 151,056 31 Goods finished, 76,500 units 145,182 5,874 31 Bal. ? units, 4/5 completed 5,874 a. Based on the...
The following information concerns production in the Baking Department for May. All direct materials are placed...
The following information concerns production in the Baking Department for May. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit May. 1 Bal., 5,400 units, 3/5 completed 10,746 31 Direct materials, 97,200 units 155,520 166,266 31 Direct labor 44,140 210,406 31 Factory overhead 24,824 235,230 31 Goods finished, 98,400 units 226,158 9,072 31 Bal. ? units, 4/5 completed 9,072 a. Based on the...
The following information concerns production in the Baking Department for May. All direct materials are placed...
The following information concerns production in the Baking Department for May. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit May. 1 Bal., 5,700 units, 4/5 completed 4,104 31 Direct materials, 102,600 units 184,680 188,784 31 Direct labor 52,250 241,034 31 Factory overhead 29,398 270,432 31 Goods finished, 104,100 units 260,856 9,576 31 Bal. ? units, 3/5 completed 9,576 a. Determine the number...
The following information concerns production in the Baking Department for May. All direct materials are placed...
The following information concerns production in the Baking Department for May. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit May. 1 Bal., 7,200 units, 1/3 completed 12,360 31 Direct materials, 129,600 units 194,400 206,760 31 Direct labor 59,730 266,490 31 Factory overhead 33,594 300,084 31 Goods finished, 131,400 units 288,960 11,124 31 Bal. ? units, 4/5 completed 11,124 a. Based on the...
Landry Co. had the following information for the month of December. All direct materials were one...
Landry Co. had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $15,700. Work in Process Inventory Beginning balance @ 12/1: 320 units, 10% completed $ 19,000 Completed 980 units and transferred them to finished goods inventory $ 171,321 Direct materials 64,000 Direct labor 40,000 Overhead Property taxes 9,000 Depreciation 40,000 Utilities 24,000 Indirect labor 7,000 Ending balance @ 12/31: 370 units, 20% completed $ 31,679 Cost per equivalent...
1) The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods...
1) The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period: Beginning Finished Goods Inventory $ 22,500 Ending Finished Goods Inventory 21,000 Cost of Goods Manufactured 129,800 Multiple Choice $128,300. $131,300. $173,300. $129,800. $152,300. 2) Cameroon Corp. manufactures and sells electric staplers for $15.00 each. If 10,000 units were sold in December, and management forecasts 5% growth in sales each month, the dollar amount of electric stapler sales budgeted for February...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT