Question
In: Accounting
Tamar Co. manufactures a single product in one department. All direct materials are added at the...
Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 24,700 units of product to finished goods inventory. Its 3,500 units of beginning work in process consisted of $20,300 of direct materials and $244,440 of conversion costs. It has 2,650 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $636,100 of direct material costs and $2,276,640 of conversion costs were charged to production.
1. Prepare the company’s process cost summary for May using the weighted-average method.
Solutions
Expert Solution
The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.
ekkarill92 answered 1 year agoRelated Solutions
Tamar Co. manufactures a single product in one department. All direct materials are added at the...
Tamar Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Conversion costs are added evenly throughout the process.
During May, the company completed and transferred 32,700 units of
product to finished goods inventory. Its 5,100 units of beginning
work in process consisted of $198,960 of direct materials and
$729,564 of conversion costs. It has 3,450 units (100% complete
with respect to direct materials and 80% complete with respect to...
Tamar Co. manufactures a single product in one department. All direct materials are added at the...
Tamar Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Conversion costs are added evenly throughout the process.
During May, the company completed and transferred 27,200 units of
product to finished goods inventory. Its 4,000 units of beginning
work in process consisted of $149,400 of direct materials and
$609,608 of conversion costs. It has 2,900 units (100% complete
with respect to direct materials and 80% complete with respect to...
Tamar Co. manufactures a single product in one department. All direct materials are added at the...
Tamar Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Conversion costs are added evenly throughout the process.
During May, the company completed and transferred 32,200 units of
product to finished goods inventory. Its 5,000 units of beginning
work in process consisted of $201,500 of direct materials and
$440,104 of conversion costs. It has 3,400 units (100% complete
with respect to direct materials and 80% complete with respect to...
Tamar Co. manufactures a single product in two departments. All direct materials are added at the...
Tamar Co. manufactures a single product in two departments. All
direct materials are added at the beginning of the Forming process.
Conversion costs are added evenly throughout the process. During
May, the Forming department started 25,650 units and transferred
26,700 units of product to the Assembly department. Its 3,900 units
of beginning work in process consisted of $20,700 of direct
materials and $262,440 of conversion costs. It has 2,850 units
(100% complete with respect to direct materials and 80% complete...
Tamar Co. manufactures a single product in two departments. All direct materials are added at the...
Tamar Co. manufactures a single product in two departments. All
direct materials are added at the beginning of the Forming process.
Conversion costs are added evenly throughout the process. During
May, the Forming department started 24,750 units and transferred
25,700 units of product to the Assembly department. Its 3,700 units
of beginning work in process consisted of $20,500 of direct
materials and $253,440 of conversion costs. It has 2,750 units
(100% complete with respect to direct materials and 80% complete...
Tamar Co. manufactures a single product in two departments. All direct materials are added at the...
Tamar Co. manufactures a single product in two departments. All
direct materials are added at the beginning of the Forming process.
Conversion costs are added evenly throughout the process. During
May, the Forming department started 30,150 units, and transferred
31,700 units of product to the Assembly department. Its 4,900 units
of beginning work in process consisted of $146,355 of direct
materials and $990,512 of conversion costs. It has 3,350 units
(100% complete with respect to direct materials and 80% complete...
Ogden Co. manufactures a single product in one department. All direct materials are added at the...
Ogden Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Direct labor and overhead are added evenly throughout the
process. The company uses monthly reporting periods for its
weighted-average process cost accounting. During October, the
company completed and transferred 23,400 units of product to
finished goods inventory. Its 3,800 units of beginning goods in
process consisted of $21,300 of direct materials, $143,300 of
direct labor, and $99,340 of factory...
Ogden Co. manufactures a single product in one department. All direct materials are added at the...
Ogden Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Direct labor and overhead are added evenly throughout the
process. The company uses monthly reporting periods for its
weighted-average process cost accounting. During October, the
company completed and transferred 22,400 units of product to
finished goods inventory. Its 4,200 units of beginning goods in
process consisted of $19,500 of direct materials, $151,300 of
direct labor, and $102,140 of factory...
Ogden Co. manufactures a single product in one department. All direct materials are added at the...
Ogden Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Direct labor and overhead are added evenly throughout the
process. The company uses monthly reporting periods for its
weighted-average process cost accounting. During October, the
company completed and transferred 23,400 units of product to
finished goods inventory. Its 3,800 units of beginning goods in
process consisted of $21,300 of direct materials, $143,300 of
direct labor, and $99,340 of factory...
Ogden Co. manufactures a single product in one department. All direct materials are added at the...
Ogden Co. manufactures a single product in one department. All
direct materials are added at the beginning of the manufacturing
process. Direct labor and overhead are added evenly throughout the
process. The company uses monthly reporting periods for its
weighted-average process cost accounting. During October, the
company completed and transferred 22,400 units of product to
finished goods inventory. Its 4,200 units of beginning goods in
process consisted of $19,500 of direct materials, $151,300 of
direct labor, and $102,140 of factory...
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