Question
In: Accounting
elow is selected information from Chipset's cost of production report: Cost per equivalent unit in process...
elow is selected information from Chipset's cost of production report:
|
Cost per equivalent unit in process |
$10 |
|
Units completed |
15,000 |
|
Total costs in process |
$332,000 |
|
Equivalent units of materials in ending inventory |
2,000 |
|
Cost per equivalent unit of materials |
$6 |
The ending inventory of work-in-process is complete as to
materials.
The cost of conversion in the ending inventory is:
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Cost per Equivalent Unit The following information concerns production in the Forging Department for September. All...
Cost per Equivalent Unit The following information concerns
production in the Forging Department for September. All direct
materials are placed into the process at the beginning of
production, and conversion costs are incurred evenly throughout the
process. The beginning inventory consists of $43,180 of direct
materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO.
Date Item Debit Credit Balance Debit Credit Sept. 1 Bal., 3,400
units, 30% completed 46,444 30 Direct materials, 31,000 units
384,400 430,844 30 Direct labor 45,890 476,734...
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...
Costs per Equivalent Unit and Production Costs
The following information concerns production in the Forging
Department for November. All direct materials are placed into the
process at the beginning of production, and conversion costs are
incurred evenly throughout the process. The beginning inventory
consists of $105,410 of direct materials.
ACCOUNT Work in Process—Forging
Department
ACCOUNT NO.
Date
Item
Debit
Credit
Balance
Debit
Credit
Nov.
1
Bal., 8,300 units, 30% completed
114,125
30
Direct materials, 76,000 units
942,400
1,056,525
30
Direct...
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...
Costs per Equivalent Unit and Production Costs
The following information concerns production in the Forging
Department for November. All direct materials are placed into the
process at the beginning of production, and conversion costs are
incurred evenly throughout the process. The beginning inventory
consists of $115,200 of direct materials.
ACCOUNT Work in Process—Forging
Department
ACCOUNT NO.
Date
Item
Debit
Credit
Balance
Debit
Credit
Nov.
1
Bal., 9,000 units, 70% completed
137,880
30
Direct materials, 82,000 units
1,033,200
1,171,080
30
Direct...
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...
Costs per Equivalent Unit and Production Costs
The following information concerns production in the Forging
Department for September. All direct materials are placed into the
process at the beginning of production, and conversion costs are
incurred evenly throughout the process. The beginning inventory
consists of $52,070 of direct materials.
ACCOUNT Work in Process—Forging
Department
ACCOUNT NO.
Date
Item
Debit
Credit
Balance
Debit
Credit
Sept.
1
Bal., 4,100 units, 30% completed
54,899
30
Direct materials, 37,000 units
458,800
513,699
30
Direct...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company
calculates the cost for an equivalent unit of production using
process costing.
Data for June
Work-in-process inventory,
June 1: 20,000 units
Direct materials: 100% complete
$
40,000
Conversion: 40% complete
16,000
Balance in work-in-process, June
1
$
56,000
Units started during June
48,000
Units completed and transferred
out
48,000
Work-in-process inventory, June
30
20,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
129,600
Conversion costs
Direct labor
129,600
Applied overhead
168,000
Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of
production using process costing. Data for June Work-in-process
inventory, June 1: 15,000 units Direct materials: 100% complete $
30,000 Conversion: 40% complete 12,000 Balance in work-in-process,
June 1 $ 42,000 Units started during June 37,000 Units completed
and transferred out 37,000 Work-in-process inventory, June 30
15,000 Direct materials: 100% complete Conversion: 80% complete
Costs incurred during June Direct materials $ 81,400 Conversion
costs Direct labor 81,400 Applied overhead 111,000 Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of
production using process costing.
Data for June
Work-in-process inventory, June 1: 25,000
units
Direct materials: 100% complete
$
50,000
Conversion: 40% complete
20,000
Balance in work-in-process, June 1
$
70,000
Units started during June
59,000
Units completed and transferred out
59,000
Work-in-process inventory, June 30
25,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
188,800
Conversion costs
Direct labor
188,800
Applied overhead
236,000
Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company
calculates the cost for an equivalent unit of production using
process costing.
Data for June
Work-in-process inventory,
June 1: 20,000 units
Direct materials: 100% complete
$
40,000
Conversion: 40% complete
16,000
Balance in work-in-process, June
1
$
56,000
Units started during June
48,000
Units completed and transferred
out
48,000
Work-in-process inventory, June
30
20,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
129,600
Conversion costs
Direct labor
129,600
Applied overhead
168,000
Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of
production using process costing. Data for June Work-in-process
inventory, June 1: 19,000 units Direct materials: 100% complete $
38,000 Conversion: 40% complete 15,200 Balance in work-in-process,
June 1 $ 53,200 Units started during June 45,800 Units completed
and transferred out 45,800 Work-in-process inventory, June 30
19,000 Direct materials: 100% complete Conversion: 80% complete
Costs incurred during June Direct materials $ 119,080 Conversion
costs Direct labor 119,080 Applied overhead 155,720 Total...
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for...
Pablo Company calculates the cost for an equivalent unit of
production using process costing.
Data for June
Work-in-process inventory, June 1: 12,000
units
Direct materials: 100% complete
$
24,000
Conversion: 40% complete
9,600
Balance in work-in-process, June 1
$
33,600
Units started during June
30,400
Units completed and transferred out
30,400
Work-in-process inventory, June 30
12,000
Direct materials: 100% complete
Conversion: 80% complete
Costs incurred during June
Direct materials
$
57,760
Conversion costs
Direct labor
57,760
Applied overhead
82,080
Total...
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