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Do It! Review 16-4 In March, Kelly Company had the following unit production costs: materials $10...
Do It! Review 16-4 In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had no work in process. During March, Kelly transferred out 22,000 units. As of March 31, 4,000 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process. Your answer is correct. Compute the total units to be accounted for. Total units Show Solution Show Answer Link to Text Your answer is incorrect. Try again. Compute the equivalent units of production. Materials Conversion costs The equivalent units of production Link to Text Your answer is incorrect. Try again. Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process. Cost Reconciliation Schedule Costs accounted for Transferred out $ Work in process, March 31 Materials $ Conversion costs Total costs $
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ekkarill92 answered 2 years agoRelated Solutions
Question 1 In March, Kelly Company had the following unit production costs: materials $12 and conversion...
Question 1 In March, Kelly Company had the following unit
production costs: materials $12 and conversion costs $7. On March
1, it had no work in process. During March, Kelly transferred out
26,000 units. As of March 31, 3,000 units that were 41% complete as
to conversion costs and 100% complete as to materials were in
ending work in process.
Compute the total units to be accounted for. Total units =
Compute the equivalent units of production.
The equivalent units...
In March, Oriole Company had the following unit production costs: materials $10 and conversion costs $8....
In March, Oriole Company had the following unit production
costs: materials $10 and conversion costs $8. On March 1, it had no
work in process. During March, Oriole transferred out 28,000 units.
As of March 31, 3,800 units that were 31% complete as to conversion
costs and 100% complete as to materials were in ending work in
process.
a) Compute the total units to be accounted
for:
Total Units:
b) Compute the equivalent units of
production:
The equivalent units of...
In March, Lasso Manufacturing had the following unit production costs: materials $14 and conversion costs $10....
In March, Lasso Manufacturing had the following unit production
costs: materials $14 and conversion costs $10. On March 1, it had
zero work in process. During March, Lasso transferred out 24,750
units. As at March 31, 2,250 units that were 60% complete as to
conversion costs and 100% complete as to materials were in ending
work in process. Calculate the cost per equivalent units for
Materials (round your answer to 2 decimals) Please ignore $
sign.
The company sells its...
1.) AB Company has the following production information available for March: Total materials costs
1.) AB Company has the following production information
available for March:
Total materials costs
$147,000
Equivalent number of complete units of materials
15,000
Total conversion costs
$ 75,000
Equivalent number of complete units of conversion costs
12,000
The total manufacturing cost per unit (rounded to nearest cent)
is closest to:
A. $6.25
B. $9.80
C. $16.05
D. $8.22
2.) ABD Company, materials purchases and uses during the first
quarter are as follows:
Jan. 11, purchased 500...
Problem 4 Cliffhangers Company had the following product information for March 2019: Selling Price Direct Materials...
Problem 4 Cliffhangers Company had the following product
information for March 2019: Selling Price Direct Materials Direct
Labor Variable Manufacturing Overhead Variable Selling Fixed
Manufacturing Overhead Fixed Selling Production Sales (units) $149
per unit $35 per unit $29 per unit $13 per unit $6 per unit
$129,000 $164,000 5,800 units 4,400 units REQUIRED: A. What is the
product cost per unit under absorption costing? B. What is the
product cost per unit under variable costing? C. Prepare an income
statement...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
Costs per Equivalent Unit
The following information concerns production in the Baking
Department for March. All direct materials are placed in process at
the beginning of production.
ACCOUNT Work in Process—Baking
Department
ACCOUNT NO.
Date
Item
Debit
Credit
Balance
Debit
Credit
Mar.
1
Bal., 7,800 units, 2/5 completed
17,160
31
Direct materials, 140,400 units
266,760
283,920
31
Direct labor
72,440
356,360
31
Factory overhead
40,744
397,104
31
Goods finished, 142,200 units
383,784
13,320
31
Bal. ? units, 2/5 completed
13,320...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
Costs per Equivalent Unit The following information concerns
production in the Baking Department for March. All direct materials
are placed in process at the beginning of production.
ACCOUNT Work in Process—Baking Department ACCOUNT NO.
Date Item Debit Credit Balance Debit Credit
Mar. 1 Bal., 9,000 units, 2/5 completed 16,740
31 Direct materials, 162,000 units 259,200 275,940
31 Direct labor 73,140 349,080
31 Factory overhead 41,142 390,222
31 Goods finished, 164,100 units 377,250 12,972
31 Bal. ? units, 2/5 completed 12,972...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
Costs per Equivalent Unit
The following information concerns production in the Baking
Department for March. All direct materials are placed in process at
the beginning of production.
ACCOUNT Work in Process—Baking
Department
ACCOUNT NO.
Date
Item
Debit
Credit
Balance
Debit
Credit
Mar.
1
Bal., 4,500 units, 3/5 completed
11,295
31
Direct materials, 81,000 units
162,000
173,295
31
Direct labor
46,930
220,225
31
Factory overhead
26,402
246,627
31
Goods finished, 82,200 units
238,245
8,382
31
Bal. ? units, 3/5 completed
8,382...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
Costs per Equivalent Unit
The following information concerns production in the Baking
Department for March. All direct materials are placed in process at
the beginning of production.
ACCOUNT Work in Process—Baking
Department
ACCOUNT NO.
Date
Item
Debit
Credit
Balance
Debit
Credit
Mar.
1
Bal., 5,100 units, 3/5 completed
11,475
31
Direct materials, 91,800 units
165,240
176,715
31
Direct labor
46,850
223,565
31
Factory overhead
26,350
249,915
31
Goods finished, 93,000 units
241,647
8,268
31
Bal. ? units, 2/5 completed
8,268...
1. Costs per Equivalent Unit The following information concerns production in the Baking Department for March....
1.
Costs per Equivalent Unit
The following information concerns production in the Baking
Department for March. All direct materials are placed in process at
the beginning of production.
ACCOUNT Work in Process—Baking
Department
ACCOUNT NO.
Date
Item
Debit
Credit
Balance
Debit
Credit
Mar.
1
Bal., 9,000 units, 4/5 completed
21,600
31
Direct materials, 162,000 units
291,600
313,200
31
Direct labor
81,750
394,950
31
Factory overhead
45,978
440,928
31
Goods finished, 164,100 units
426,300
14,628
31
Bal. ? units, 2/5 completed...
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