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In: Accounting
Fabian Company uses process costing and the weighted average method. The following information was available for...
Fabian Company uses process costing and the weighted average method. The following information was available for April:
| units | Costs | ||||||
| Work in Process, April 1 | 481 | $ | 6,500 | ||||
| Work in Process, April 30 | 375 | (A) | |||||
During April, 930 units were started, and costs incurred during the month were $51,000. Ending inventory was 50% complete. Based on the information given, (A) above would equal what amount? (Do not round your intermediate calculations. Round your final answer to the nearest dollar.)
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process
costing. The following information is available for February in its
Molding Department:
Units:
Beginning Inventory: 46,000 units, 100% complete as to materials
and 60% complete as to conversion.
Units started and completed: 150,000.
Units completed and transferred out: 196,000.
Ending Inventory: 40,000 units, 100% complete as to materials and
25% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials:
$63,000.
Costs in beginning Work in Process -...
Andrews Corporation uses the weighted-average method of process costing. The following information is available for February...
Andrews Corporation uses the weighted-average method of process
costing. The following information is available for February in its
Polishing Department:
Equivalent units of production—direct materials
102,000
EUP
Equivalent units of production—conversion
88,000
EUP
Costs in beginning Work in Process—direct materials
$
54,800
Costs in beginning Work in Process—conversion
$
40,300
Costs incurred in February—direct materials
$
463,500
Costs incurred in February—conversion
$
582,200
The cost per equivalent unit of production for direct materials
is:
part b
During November, the production...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October...
Richards Corporation uses the weighted-average method of process
costing. The following information is available for October in its
Fabricating Department: Units: Beginning Inventory: 97,000 units,
70% complete as to materials and 25% complete as to conversion.
Units started and completed: 284,000. Units completed and
transferred out: 381,000. Ending Inventory: 38,500 units, 40%
complete as to materials and 10% complete as to conversion. Costs:
Costs in beginning Work in Process - Direct Materials: $37,200.
Costs in beginning Work in Process -...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October...
Richards Corporation uses the weighted-average method of process
costing. The following information is available for October in its
Fabricating Department:
Units:
Beginning Inventory: 80,000 units, 60% complete as to materials and
20% complete as to conversion.
Units started and completed: 250,000.
Units completed and transferred out: 330,000.
Ending Inventory: 30,000 units, 40% complete as to materials and
10% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials:
$37,200.
Costs in beginning Work in Process -...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process
costing. The following information is available for February in its
Molding Department: Units: Beginning Inventory: 46,000 units, 100%
complete as to materials and 60% complete as to conversion. Units
started and completed: 150,000. Units completed and transferred
out: 196,000. Ending Inventory: 40,000 units, 100% complete as to
materials and 25% complete as to conversion. Costs: Costs in
beginning Work in Process - Direct Materials: $63,000. Costs in
beginning Work in Process -...
Adam Company uses the weighted-average method in its process costing system. The following information for the...
Adam Company uses the weighted-average method in its process
costing system. The following information for the Assembly
Department was obtained from the accounting records for September
(all materials are added at the beginning of the
process):
Number of
Units
Labour and overhead
percentage complete
Work in process inventory, Sept.
1
60,000
15%
Transferred in the during the
month
105,000
Work in process inventory, Sept.
30
40,000
20%
Transferred
In
Materials
Labour and
overhead
Beginning work-in-process
inventory
$30,000
$16,000
Cost added...
Fever Corporation uses the weighted average method of process costing. The company has the following information...
Fever Corporation uses the weighted average method of process
costing. The company has the following information for the
period:
Beginning Work in Process: 2000 units 100% complete for
materials, 75% complete for conversion costs
Units started during the period: 10,000
Ending work in process: 4,000 units 75% complete for materials,
50% complete for conversion costs
Costs for the period:
Beginning work in process: Materials: $1,100 Conversion Costs:
$2,000
Costs added during the period: Materials: $11,000 Conversion
Costs: $30,000
A)...
Nexto Inc. uses the weighted average method of process costing. The company has the following information...
Nexto Inc. uses the weighted average method of process costing.
The company has the following information for the period:
Beginning Work in Process: 2000 units 100% complete for
materials, 75% complete for conversion costs
Units started during the period: 10,000
Ending work in process: 4,000 units 75% complete for materials,
50% complete for conversion costs
Costs for the period:
Beginning work in process: Materials: $1,100 Conversion Costs:
$2,000
Costs added during the period: Materials: $14,300 Conversion
Costs: $13,000
A)...
The Davidson Company uses a weighted average process costing system. The following information was reported for...
The Davidson Company uses a weighted average process costing
system. The following information was reported for the Assembly
Process for January. Materials are added at the beginning of the
process and are 100%.
Units:
units
% complete for conversions
work in process, 1/1
60,000
15%
started
105,000
work in process, 1/31
40,000
20%
Costs:
Materials
Conversion
beginning work in process
$ 16,500
$ 33,250
current costs
$643,500
$332,500
What is the cost assigned to the units completed and transferred to...
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...
The Lakeside Company uses a weighted-average process costing
system. The following data are available: Beginning inventory -0-
Units started in production 20,000 Units finished during the period
16,000 Units in process at the end of the period (complete as to
materials, ¼ complete as to labor and overhead) 4,000 Cost of
materials used $ 35,200 Labor and overhead costs $ 37,400 Cost per
equivalent unit of materials is: Multiple Choice $2.20. $2.07.
$1.85. $1.76.
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