Question
In: Accounting
Tript Corporation has a process costing system and uses the weighted-average method. The company had 3,000...
Tript Corporation has a process costing system and uses the
weighted-average method. The
company had 3,000 units in work in process on February 1 that were
60% complete with respect
to conversion costs. During the month, 10,000 units were completed.
At the end of the month,
4,000 units remained in work in process that were 40% complete with
respect to conversion
costs. Materials are added at the beginning of the process.
How many units were started into production during February?
Solutions
Expert Solution
Solution: 11,600
Working:
Equivalent Units
Physical units % of Completion
Material Conversion C
Units started 11,000 89%
11,000 9800
Beginning WIP 3,000 60%
3,000 1800
14,000 11,600
Equivalent Units
Physical units % of Completion
Material Conversion C
Units completed 10,000 100%
10,000 10,000
Beginning WIP 4,000 40%
4,000 1,600
Total units accounted for
14,000 11,600
ekkarill92 answered 2 years agoRelated Solutions
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only...
The Richmond Corporation uses the weighted-average method in its
process costing system. The company has only a single processing
department. The company's ending work in process inventory on
August 31 consisted of 21,400 units. The units in the ending work
in process inventory were 100% complete with respect to materials
and 60% complete with respect to labor and overhead. If the cost
per equivalent unit for August was $3.60 for materials and $5.10
for labor and overhead, the total cost...
Elite Company uses the weighted-average method in its process costing system. The company had 2,000 units...
Elite Company uses the weighted-average method in its process
costing system. The company had 2,000 units in work in process at
April 1, that were 60% complete with respect to conversion cost.
During April, 15,000 units were completed. At 30 April 5,000 units
remained in work in process and they were 40% complete with respect
to conversion cost. Direct materials are added at the beginning of
the process. How many units were started during April?
Select one:
a. 18000
b....
Fever Corporation uses the weighted average method of process costing. The company has the following information...
Fever Corporation uses the weighted average method of process
costing. The company has the following information for the
period:
Beginning Work in Process: 2000 units 100% complete for
materials, 75% complete for conversion costs
Units started during the period: 10,000
Ending work in process: 4,000 units 75% complete for materials,
50% complete for conversion costs
Costs for the period:
Beginning work in process: Materials: $1,100 Conversion Costs:
$2,000
Costs added during the period: Materials: $11,000 Conversion
Costs: $30,000
A)...
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process...
Walbin Corporation uses the weighted-average method in its
process costing system. The beginning work in process inventory in
a particular department consisted of 19,000 units, 100% complete
with respect to materials cost and 30% complete with respect to
conversion costs. The total cost in the beginning work in process
inventory was $25,600. A total of 55,000 units were transferred out
of the department during the month. The costs per equivalent unit
were computed to be $1.80 for materials and $3.50...
1. A company uses a process costing system and the weighted average method for inventory costs....
1. A company uses a process costing system and the weighted
average method for inventory costs. The following information is
available regarding direct labor for the current year:
Work in Process, January 1
5,500 units, 80% complete
Work in Process, December
31
8,800 units, 40% complete
Units completed and transferred
to finished goods
46,900 units
Direct labor costs during the
year
$266,300
(a) Calculate the equivalent units of production for direct labor
for the year.
(b) Calculate the average cost...
Scheney Company uses the weighted-average method in its process costing system. The company's work in process...
Scheney Company uses the weighted-average method in its process
costing system. The company's work in process inventory on March 31
consisted of 20,000 units. The units in the ending work in process
inventory were 100% complete with respect to materials and 70%
complete with respect to labor and overhead. If the cost per
equivalent unit for August was $2.50 for materials and $4.75 for
labor and overhead, the total cost in the March 31 work in process
inventory was: Select...
Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in...
Helix Corporation uses the weighted-average method in its
process costing system. It produces prefabricated flooring in a
series of steps carried out in production departments. All of the
material that is used in the first production department is added
at the beginning of processing in that department. Data for May for
the first production department follow:
Percent Complete
Units
Materials
Conversion
Work in process inventory, May 1
68,000
100
%
30
%
Work in process inventory, May 31
48,000
100...
Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in...
Helix Corporation uses the weighted-average method in its
process costing system. It produces prefabricated flooring in a
series of steps carried out in production departments. All of the
material that is used in the first production department is added
at the beginning of processing in that department. Data for May for
the first production department follow: Percent Complete Units
Materials Conversion Work in process inventory, May 1 60,000 100 %
50 % Work in process inventory, May 31 40,000 100...
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...
Helix Corporation uses the weighted average method in its process costing system. It procuces prefabricated flooring...
Helix Corporation uses the weighted average method in its
process costing system. It procuces prefabricated flooring in a
series of steps caried out in production departments. All of the
material that is used in the first production department is added
at the beginning of processin in that department. Data for May for
the first production department is added at the beginning of
production deparment follow:
Percent Complete
Units Materials Conversion
Work in Porcess inventory May 1 51,000 100% 50%...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Suppose a company is looking to hedge a risk in the derivatives market. What, fundamentally, is...
- Training and Development assignment. Describe the usage of Computer Based Training (CBT) in McDonald's Company training...
- PUT IN JAVA PROGRAMMING LANGUAGE The Rectangle class: Design a class named Rectangle to represent a...
- Journal article summary on inter-group conflict Peer Reviewed Journal article from past 3 years. Please include...
- "Ethical Considerations" Please respond to the following: Reflect upon the responsibilities placed on auditors by the...
- A Japanese company has a bond outstanding that sells for 93 percent of its ¥100,000 par...
- What is the difference among the principles of modularization, abstraction, encapsulation, and separation of interface and...
ADVERTISEMENT