Cranford Company completed and transferred out 2,900 units in May 2020. There were 200 units in...

Cranford Company completed and transferred out 2,900 units in May 2020. There were 200 units in the Work-in-Process Inventory on May 31, 2020, 30% complete as to conversion costs and 100% complete as to materials. The month's charges for conversion costs and material costs were $13,320 and $9,610, respectively. There was no beginning inventory on May 1, 2020. What is the cost of the work transferred-out during May, assuming that Cranford uses weighted-average process costing?

Expert Solution

Answer

Cost of the work transferred-out = $ 22,040

Calculations:

Particulars	Units	% Material	EUP- Material	% Coversion	EUP - Conversion

Started and completed	2,900	100%	2,900	100%	2,900
Ending Inventory	200	100%	200	30%	60
Total	3,100		3,100		2,960

Costs:
Opening		$ -	$ -
Current period		$ 9,610	$ 13,320
Total		$ 9,610	$ 13,320

Cost per unit		$ 3.10	$ 4.50

Value of Started and completed
Material (2900*3.1)	$ 8,990.00
Conversion cost (2900*4.1)	$ 13,050.00
Total	$ 22,040.00

ekkarill92 answered 1 year ago

During the period, the mixing department completed 500 units and transferred then out to the baking...

During the period, the mixing department completed 500 units and transferred then out to the baking department. at the end of the period there were 4000.00 units that are 40% complete as to direct material in the mixing department. the equivalent units of production for direct materials equal

In a process with 900 units of beginning Work in Process, the company completed and transferred...

In a process with 900 units of beginning Work in Process, the company completed and transferred out 10200 units during a period. There were 4600 units in the ending Work in Process that were 50% complete as to conversion costs. Materials are added 75% at the beginning of the process and 15% when the units are 85% complete. How much is equivalent units of production for the period for material costs if the weighted-average method is used?

Summarize total Assembly Department costs for April 2009, and assign total costs to units completed (and transferred out) and to units in ending work in process.

Weighted-average method. Porter Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the Assembly Department and the Finishing Department This problem focuses on the Assembly Department. The process-costing system at Porter has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added when the Assembly Department process is 10% complete. Conversion costs are added evenly during the Assembly Department’s process. Porter uses the weighted-average method of...

Timing Technology, Inc. manufactures timing devices. During 20x1, 1,300,000 units were completed and transferred to finished-goods...

Timing Technology, Inc. manufactures timing devices. During 20x1, 1,300,000 units were completed and transferred to finished-goods inventory. On December 31, 20x1, there were 310,000 units in work in process. These units were 47 percent complete as to conversion and 100 percent complete as to direct material. Finished-goods inventory consisted of 364,000 units. Materials are added to production at the beginning of the manufacturing process, and overhead is applied to each product at the rate of 100 percent of direct-labor costs....

a. a. For May 2020, the cost of Direct Materials transferred into the Filling Dept. of...

a. a. For May 2020, the cost of Direct Materials transferred into the Filling Dept. of a liquid soap company is $20,200. Direct Labor cost incurred for the same department is unknown, and Factory Overhead cost applied to production is 80% of Direct Labor cost. The total cost of finished goods transferred out of the Filling Dept. is $85,600. The cost of beginning work in process (WIP) inventory in the Filling Dept. on May 1 was $12,000 and the ending...

If 181100 units are transferred out of a department, there was no beginning work in process,...

If 181100 units are transferred out of a department, there was no beginning work in process, and there are 29300 units still in process at the end of a period, the number of units that were started into production during the period is 151800. 29300. 181100. 210400.

15. If 179800 units are transferred out of a department, there was no beginning work in...

15. If 179800 units are transferred out of a department, there was no beginning work in process, and there are 30800 units still in process at the end of a period, the number of units that were started into production during the period is 30800. 210600. 179800. 1. The Assembly Department shows the following information: Units Beginning Work in Process 20800 Ending Work in Process 65300 Units Transferred Out 30200 How many total units are to be accounted for by...

Zuniga, Inc. uses a process costing system. During May, 1,200 units were transferred into Department 2...

Zuniga, Inc. uses a process costing system. During May, 1,200 units were transferred into Department 2 at a cost of $38,040. Direct materials are added at the beginning of the process. Additionally: On May 1:Beginning inventories = 250 units, 40% complete Direct materials costs = $1,250 Conversion costs = $1,356 Transferred-in costs = $2,560 During May:Direct materials costs incurred = $6,000 Conversion costs incurred = $17,013 On May 31: Ending Inventories = 350 units, 20% complete Using the weighted average...

If equivalent units are 5500 for conversion costs and units transferred out equals 3100, what stage...

If equivalent units are 5500 for conversion costs and units transferred out equals 3100, what stage of completion should the ending Work in Process be for the 8000 units remaining? 69% 30% 15% 25%

A production department's output for the most recent month consisted of 8,300 units completed and transferred...

A production department's output for the most recent month consisted of 8,300 units completed and transferred to the next stage of production and 5,300 units in ending Work in Process inventory. The units in ending Work in Process inventory were 50% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method. Multiple Choice 10,950 units. 13,600 units. 5,650 units. 6,800 units. 9,450 units.

Question