Question
In: Accounting
Liz Electronics makes game consules in three processes: assembly, programming and packaging. Direct materials are added...
Liz Electronics makes game consules in three processes:
assembly, programming and packaging. Direct materials are added at
the beginning of the assembly process. Conversion costs are
incurred evenly throughout the process. The Assembly Department had
no work-in-process inventory on October 31.
Requirements:
1. prepare a production cost report for the assembly department for
november. the company uses the weighted-average method.
2. prepare a t-account for work-in-process inventory---assembly to
show its activity during november, including november 30
balance.
additional information: in mid-november, Liz electronics started
production to 115,000 game consules. of this number, 99,000 game
consules were assembled during november and transferred out to the
programming department. the november 30 work-in-process inventory
in the assembly department was 45% of the way through the assembly
process. Direct materials costing $345,000 were placed in
production in assembly during november, direct labor of $150,000
was assigned, and manufacturing overhead of $62,400 was allocated
to that department.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Dee Electronics makes game consoles in threww processes: assembly, programing, and pakcaging.Direct materials are added at...
Dee Electronics makes game consoles in threww processes:
assembly, programing, and pakcaging.Direct materials are added at
teh beginning of the assembly process. Conversion cost are incurred
evenly throughout the process. The assembly Department jad no
Work-in-Process Incentory on October 31st. In min-november, Dee
Electronics started producion on 100,000 game consoles. Of this
number, 90,000 game consoles were assembled during November and
transferred out to the Programming Department. The November 30
Work-in-Process Inventory in the Asswmbly Department was 35% of the...
Segado, Inc. mass-produces goods in three processes. In the second process, direct materials are added at...
Segado, Inc. mass-produces goods in three processes. In the
second process, direct materials are added at the beginning,
conversion costs are incurred evenly throughout the process, and
the normal spoilage rate is 5%. This period, the 90,000 units
transferred into the second process had costs of $450,000 attached
to them from the first process. The 20,000 units in beginning
work-in-process inventory (30% complete) were worth $280,000
($100,000 in transferred-in costs, $120,000 in conversion costs,
and $60,000 in direct materials costs)....
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:...
Process Costing – Packaging Department (Refer to Information 9) Direct materials are added 90% at the...
Process Costing – Packaging Department (Refer to
Information 9)
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 at the completion rate of the
cereals.
Table 8 – Unit and cost information (Do not attempt to complete
this table; it is for information only)
Cost
Physical Units
Transferred-in
Direct Materials
Direct Labor...
. Direct materials used in the Packaging Department . . . . . . . ....
.
Direct materials used in the Packaging Department . . . . . . .
. . . . . . . . . . . .
$38,000
2.
Costs assigned to units completed and transferred out of Mixing
. . . . . . . . .
231,000
3.
Direct labour incurred in the Mixing Department . . . . . . . .
. . . . . . . . . . . . . .
11,000...
Hamilton, Inc. manufactures units in two processes: Production and Finishing. All direct materials are added at...
Hamilton, Inc. manufactures units in two processes: Production
and Finishing. All direct materials are added at the beginning of
the Production process, while conversion costs are incurred evenly
throughout the period for both Production and Finishing. Hamilton
employs three inspectors: Kasey, Chad, and Lexi. Kasey inspects
direct materials before they are added to Production (two pieces of
direct materials per unit). Chad inspects units when the Production
process is finished, after which they are immediately transferred
to Finishing. Lexi inspects...
1. Department 2 is the second of three sequential processes. All materials are added at the...
1. Department 2 is the second of three sequential processes. All
materials are added at the beginning of processing in Department 2.
During October, Department 2 reported the following data:
Number of units
Conversion costs percentage complete
Units started
60,000
-
Completed and transferred
50,000
-
Work in process, October 1
26,000
60%
Work in process, October 31
36,000
20%
Costs for October
Transferred In
Materials
Conversion Costs
Work in process, October 1
$45,000
$25,000
$54,000
Added during the month...
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...
Dengo Co. makes a trail mix in two departments: roasting and blending. Direct materials are added...
Dengo Co. makes a trail mix in two departments: roasting and
blending. Direct materials are added at the beginning of each
process, and conversion costs are added evenly throughout each
process. The company uses the FIFO method of process costing.
During October, the roasting department completed and transferred
22,800 units to the blending department. Of the units completed,
3,300 were from beginning inventory and the remaining 19,500 were
started and completed during the month. Beginning work in process
was 100%...
Dengo Co. makes a trail mix in two departments: roasting and blending. Direct materials are added...
Dengo Co. makes a trail mix in two departments: roasting and
blending. Direct materials are added at the beginning of each
process, and conversion costs are added evenly throughout each
process. The company uses the FIFO method of process costing.
During October, the roasting department completed and transferred
23,000 units to the blending department. Of the units completed,
3,400 were from beginning inventory and the remaining 19,600 were
started and completed during the month. Beginning work in process
was 100%...
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