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 |
ekkarill92 answered 2 years agoRelated 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...
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