The Couch Company produces a standard couch. During March, the firm's Stuffing Area started production of...

The Couch Company produces a standard couch. During March, the firm's Stuffing Area started production of 73,900 couches. During March, they finished 78,400 couches, and transferred them to the Upholstery Area. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Couch.

Physical Units Dir Mtls
Conversion Costs
Beg WIP (a)
15,700
$24,400
$35,900

Started during March
73,900

Completed during March
78,400

End WIP (b)
11,200

Total cost added this month: Materials $169,000 Conversion Costs $278,600
(a)Degree of completion: Dir Mtls 100% Conversion Costs 25%
(b) Degree of completion: Dir Mtls 100% Conversion Costs 70%

What were the equivalent units for conversion costs during March?
Group of answer choices

82,315

85,675

86,240

74,465

What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of March?
(Round intermediary calculations to the nearest cent.)
Group of answer choices

$29,344

$25,648

$28,800

$21,760

What is the cost of the goods transferred out during March?
(Round intermediary calculations to the nearest cent.)
Group of answer choices

$395308.50

$455,608.50

$507,900.00

$429,194.09

Solutions

Expert Solution

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Sleepy chairs company manufacturers a standard recliner. During October, the firm's Assembly Department started production of...

Sleepy chairs company manufacturers a standard recliner. During October, the firm's Assembly Department started production of 85,000 chairs. During the month, the firm completed 95,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,000 chairs in ending inventory. There were 20,000 chairs in beginning inventory. The number of chairs started and completed in October is 75,000 chairs. True False

Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of...

Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 73,000 chairs. During the month, the firm completed 78,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,000 chairs in ending inventory. There were 15,000 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing...

XYZ chair company manufactures a standard recliner. During February, the firm's Assembly Department started production of...

XYZ chair company manufactures a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 80,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,000 chairs in ending inventory. There were 15,000 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing...

Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of...

Comfort chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 72,000 chairs. During the month, the firm completed 77,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 11,000 chairs in ending inventory. There were 16,000 chairs in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing...

The Rest-A-Lot chair company manufactures a standard recliner. During February, the firm's Assembly Department started production...

The Rest-A-Lot chair company manufactures a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 80,000 chairs. The firm ended the monh with 10,000 chairs in ending inventory. There were 15,000 chairs in beginning inventory. All directy material costs are added at the beg. of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Rest-a-Lot. Beginning work...

the rest-a-lot chair company manufacturing a standard recliner. during februare the firm's assembly department started production...

the rest-a-lot chair company manufacturing a standard recliner. during februare the firm's assembly department started production of 75,000 chairs. during the month, the firm completed 85,000 chairs and transferred them to the finishing department. the firm ended the month with 15,000 chairs in ending inventory. all direct materials costs are added at the begining of the production cycle. weighted-average costing is uesd by rest-a-lot. what were the equivalent units for materialsfor february? A 95?000 chairs B 75?000 chairs C 80?000...

. The Tochigi Company manufacturers a standard bookshelf. During February, the firm's Assembly Department has the...

. The Tochigi Company manufacturers a standard bookshelf. During February, the firm's Assembly Department has the beginning inventory of 60,000 bookshelves. During the month, the firm completed 120,000 bookshelves, and transferred them to the Finishing Department. The firm ended the month with 30,000 bookshelves in the ending inventory. All direct materials costs are added at the beginning of the production cycle. Conversion costs are added uniformly throughout the production process. The beginning work in process was 60% completed with respect to...

Maria Company started its operations on March 1, 2018. The following transactions took place during the...

Maria Company started its operations on March 1, 2018. The following transactions took place during the first month of operations: March 1: Maria invests $1,840,000 cash to start the business. March 4: Purchased furniture for $240,000, paying $100,000 in cash and sign a note for the remaining balance. March 9: Purchased supplies for $12,200 on credit. March 15: Paid $18,000 cash for March rent. March 18: Paid $4,200 cash for office supplies purchased on March 9. March 21: Services...

A Rest a lot chair company manufactures a standard recliner. During february, the firm's assembly department...

A Rest a lot chair company manufactures a standard recliner. During february, the firm's assembly department started a standard production of 75,000 chairs. During the month the firms completed 80,000 chairs and transfered them to the Finishing Department. The firm ended the month with 10,000 chairs in ending inventory. There were 15,000 chairs in beginning inventory. All direct materials cost are added at the beginning of the production process. The FIFO method of process costing is used by Rest a...

London Ceramics makes custom ceramic tiles. During March, the company started and finished Job #266. Job...

London Ceramics makes custom ceramic tiles. During March, the company started and finished Job #266. Job #266 consists of 3,200 tiles; each tile sells for $15. The company's records show the following direct materials were requisitioned for Job #266. Basic terra cotta tiles: 3,200 units at $6 per unit Specialty paint: 13 quarts at $ 7 per quart High gloss glaze: 8 quarts at $17 per quart Labor time records show the following employees worked on Job #266: Alice Cooper:...

Subjects