Question
In: Accounting
Laser Resources produces and sells laser components and accessories. All materials are added at the beginning...
Laser Resources produces and sells laser components and accessories. All materials are added at the beginning of the process. It has compiled the following information regarding its physical units for the month of November:
| Physical Units | |||
| Beginning work in process, 65% complete for conversion | 34,000 | ||
| Units started | 74,000 | ||
| Units transferred out | 67,000 | ||
| Ending work in process, 15% complete for conversion | |||
Required:
1. Using the weighted-average method, reconcile the number of physical units.
2. Using the weighted-average method, calculate equivalent units for materials and conversion cost.
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Humphrey Manufacturing produces automobile parts and batteries. All direct materials are added at the beginning of...
Humphrey Manufacturing produces automobile parts and batteries.
All direct materials are added at the beginning of production and
conversion costs are incurred evenly throughout production. The
following production information is for the month of April:
Units:
Work in process, March 31: 6,000 units (40% complete)
Units started in April 42,000
Units completed during April 40,000
Work in process, April 30 25% complete
Costs in Beginning WIP:
Direct Materials $7,500
Conversion Costs $2,125
Total $9,625
Costs Added this Period:
Direct Materials...
In the Assembly Department, all materials are added at the beginning of the process. Labor and...
In the Assembly Department, all materials are added at the
beginning of the process. Labor and overhead (conversion resources)
are added evenly throughout the process. The following information
pertains to the Assembly Department for the month of August.
Physical Units Materials Conversion
Beg work in process Inventory 1,000 units (90%) complete $4,600
$2,340
Units started in August 6,000 units
Ending work in process inventory 800 unit (30% complete)
Costs added in August $40,200 $49,800
a. How many units were...
Mountain Meadow Grains produces trail mix. Materials are added at the beginning of the process, and...
Mountain Meadow Grains produces trail mix. Materials are added
at the beginning of the process, and the company uses the FIFO
process costing method. Inspection takes place when the product is
100% complete. Normal spoilage is 4% of good units completed. Here
is the production information for the latest period.
Beginning WIP (75%
complete)
20,000 units
Good units completed and transferred
out 80,000 units
Ending WIP inventory (90%
complete)
24,000 units
Total
spoilage
4,800 units
FIFO cost per equivalent unit:...
Atlantic manufacturing company uses process costing. All materials are added at the beginning of the process....
Atlantic manufacturing company uses process costing. All
materials are added at the beginning of the process. The company
uses weighted average method in measuring unit costs. There are
100,000 units in the beginning work-in-process in the month of May
(The company started its production in late April and did not
finish producing any unit). The conversion work is 70%
complete.
The costs of beginning WIP are $1,250,000, including
$100,000 of input of materials ($1 per EU), and $140,000 for labor...
Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process....
Atlantic Manufacturing Company uses process costing. All materials
are added at the beginning of the process. The normal spoilage rate
is calculated as 10% of good units
completed.
The cost of the beginning work-in-process in the
month
of May is $3,000,000, including $1,600,000 of input of materials,
100,000 units, and $1,400,000 for conversion costs. The beginning
work-in-process is 70% complete.
During May, the input includes $7,400,000 for materials, 800,000
units started and $4,190,000 for conversion costs. There were
700,000 good...
Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process....
Atlantic Manufacturing Company uses process costing. All
materials are added at the beginning of the process. The normal
spoilage rate is calculated as 10% of good units completed. The
cost of the beginning work-in-process in the month of May is
$3,000,000, including $1,600,000 of input of materials, 100,000
units, and $1,400,000 for conversion costs. The beginning
work-in-process is 70% complete. During May, the input includes
$7,400,000 for materials, 800,000 units started and $4,190,000 for
conversion costs. There were 700,000 good...
Materials are added at the beginning of the process and conversion costs are added uniformly. Work...
Materials are added at the beginning of the process and
conversion costs are added uniformly.
Work in? process, beginning:
Number of units
15 comma 00015,000
Transferredminus?in
costs
?$94,000
Direct materials? (100%)
?$22,500
Conversion costs? (75%)
?$25,400
Units
transferredminus??in:
Number of units
52 comma 50052,500
Transferredminus?in
costs
?$640,500
Units completed
41 comma 00041,000
Costs during the? period:
Direct materials
?$155,475
Conversion costs
?$213,225
Work in? process, ending:
Number of units
26 comma 50026,500
?(100% complete for materials and? 35% complete for?...
Williams uses a weighted-average process-costing system. All materials are added at the beginning of the process;...
Williams uses a weighted-average process-costing system. All
materials are added at the beginning of the process; conversion
costs are incurred evenly throughout production. The company
finsihed 150,000 units during the period and has 80,000 units in
progress at year-end, the latter at the 40% stage of completion.
Total material costs amounted to $1,350,000; coversion costs were
$1,600,000.
The cost of the ending work-in process is?
Williams uses a weighted-average process-costing system. All materials are added at the beginning of the process;...
Williams uses a weighted-average process-costing system. All
materials are added at the beginning of the process; conversion
costs are incurred evently throughout poduction. The company
finished 150,000 units during the period and has 80,000 units in
progress at year, the latter at the 40% stage of completion. Total
materia costs amounted to $1,350,000; conversion costs were
$1,600,000.
The cost of the ending work-in-process is:
In the Mixing Dept., the direct materials are added at the beginning of the process and...
In the Mixing Dept., the direct materials are added at the
beginning of the process and the conversion costs are incurred
evenly throughout the process. Work in process of the mixing Dept.
on March 1, 2018 consisted of 900 batches of crayons that were 60%
of the way through the production process.
The beginning balance in WIP Inventory - Mixng was $30,700 which
consited of $11,500 in direct materias cost and $19,200 in
conversion costs.
During March, 4600 batches were...
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