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In: Accounting
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 product for $24 per unit and variable costs are $14 per unit. Its fixed costs are $166,400. Calculate the required sales in units to achieve its target operating income of 12% of total costs. (Round answer to 0 decimal places, e.g. 125.)
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ekkarill92 answered 1 year agoRelated Solutions
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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
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Answer...
Last month, Vern’s Assembly Department had a unit materials cost of $4.00 and a unit conversion...
Last month, Vern’s Assembly Department had a unit materials cost
of $4.00 and a unit conversion cost of $5.00. The department
transferred out 68,000 units during the month and had 12,000 units
in ending work in process inventory that were 40% complete with
respect to conversion at the end of the month. If all materials are
added at the beginning of the process and conversion costs are
added uniformly throughout the process, what is the total cost of
the department’s...
The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve...
The costs per equivalent unit of direct materials and conversion
in the Filling Department of Eve Cosmetics Company are $2.40 and
$2.65, respectively. The equivalent units to be assigned costs are
as follows:
Equivalent Units
Direct Materials
Conversion
Inventory in process, beginning of period
0
3,400
Started and completed during the period
49,000
49,000
Transferred out of Filling (completed)
49,000
52,400
Inventory in process, end of period
4,000
2,000
Total units to be assigned costs
53,000
54,400
The beginning work...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak...
The costs per equivalent unit of direct materials and conversion
in the Rolling Department of Oak Ridge Steel Company are $0.60 and
$1.20, respectively. The equivalent units to be assigned costs are
as follows:
Equivalent Units
Direct Materials
Conversion
Inventory in process, July 1
0
5,100
Started and completed during July
64,000
64,000
Transferred out of Rolling (completed)
64,000
69,100
Inventory in process, July 31
4,000
1,200
Total units to be assigned costs
68,000
70,300
The beginning work in process...
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak...
The costs per equivalent unit of direct materials and conversion
in the Rolling Department of Oak Ridge Steel Company are $2.75 and
$2.80, respectively. The equivalent units to be assigned costs are
as follows:
Equivalent Units
Direct Materials
Conversion
Inventory in process, July 1
0
1,800
Started and completed during July
46,000
46,000
Transferred out of Rolling (completed)
46,000
47,800
Inventory in process, July 31
3,000
1,200
Total units to be assigned costs
49,000
49,000
The beginning work in process...
Question A: The costs per equivalent unit of direct materials and conversion in the Bottling Department...
Question A:
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Equivalent Units
Direct Materials
Conversion
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0
2,500
Started and completed during the period
50,000
50,000
Transferred out of Bottling (completed)
50,000
52,500
Inventory in process, end of period
5,000
2,500
Total units to be assigned costs
55,000
55,000...
Percent Complete Costs Units Materials Conversion Materials Conversion Beginning WIP 2,000 10% 90% $5,000 $1,000 Started...
Percent Complete
Costs
Units
Materials
Conversion
Materials
Conversion
Beginning WIP
2,000
10%
90%
$5,000
$1,000
Started into production
40,000
$100,000
$200,000
Ending WIP
3,000
30%
80%
Using the weighted average method of
process costing, calculate the (1) number of units transferred out,
(2) equivalent units of production with respect to materials and
with respect to conversion, (3) the cost per equivalent unit for
materials and for conversion, (4) ending WIP inventory value for
materials and for conversion, and (5) the...
Cost per equivalent unit is kept separate for direct materials and conversion costs because A. the...
Cost per equivalent unit is kept separate for direct
materials and conversion costs because
A. the ending inventories were different for the two
categories.
B.the equivalent units were different for the two
categories.
C. the total manufacturing costs were different for the two
categories.
D. the physical units were different for the two categories.
The current manufacturing costs include
( ) direct labor,
( ) direct materials, and
( ) manufacturing
overhead.
-estimated; estimated; applied
-actual; actual; actual
-estimated; actual;...
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