Question

In: Accounting

Andy Company applies the weighted-average method of process costing. The Molding Department reported the following information...

Andy Company applies the weighted-average method of process costing. The Molding Department reported the following information for March.

Physical Percent complete with          Percent complete with

  Units        respect to materials              respect to conversion

Work in process, March 1                         12,000                  100%                                     70%

Units started                                              20,000

Units completed and transferred out         28,000

Work in process, March 31                         4,000                   80%                                       40%

Costs for March                                    Materials             Conversion

Work in process, March 1                     $70,000                 $100,000

Added during the month                       $148,400                $136,800                

Compute the cost per equivalent unit for materials, cost per equivalent unit for conversion, and cost of units completed and transferred out.

Solutions

Expert Solution


Related Solutions

Rick Company applies the FIFO method of process costing. The Molding Department reported the following information...
Rick Company applies the FIFO method of process costing. The Molding Department reported the following information for March.                                                                   Physical         Percent complete with     Percent complete with                                                                     Units              respect to materials        respect to conversion Work in process, March 1                         12,000                  80%                                     70% Units started                                              20,000 Units completed and transferred out         28,000 Work in process, March 31                         4,000                   40%                                      30% Costs for March                                    Materials             Conversion Work in process, March 1                     $70,000                 $100,000 Added during the month                       $150,000                $174,720                 Compute the cost...
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...
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.)
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)...
Which of the following is true of the weighted average method of process costing? A. If...
Which of the following is true of the weighted average method of process costing? A. If there is no ending work in process, it results in the same amount of cost for completed units as the FIFO method does. B. In computing equivalent units of production, it considers all work done during the previous periods. C. In computing the cost per equivalent unit of production, it considers only costs incurred in the current period. D. It better matches ending inventory...
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of...
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of Burnt Company reported the following information for the month of November: Beginning work in process: 30% complete for materials, and 80% complete for conversion. Ending work in process: 40% complete for materials, and 70% complete for conversion. Cost Summary Materials Conversion Work in process, November 1 $ 34,500 $ 48,600 Added during November $146,000 $194,400 Units Work in process, November 1 10,000 Started in...
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of...
Burnt Ham Company uses the weighted-average method in its process costing system. The Curing Department of Burnt Company reported the following information for the month of November: Beginning work in process: 30% complete for materials, and 80% complete for conversion. Ending work in process: 40% complete for materials, and 70% complete for conversion. Cost Summary Materials Conversion Work in process, November 1 $ 34,500 $ 48,600 Added during November $146,000 $194,400 Units Work in process, November 1 10,000 Started in...
Natraj Company uses the weighted-average method in its process costing system. The Curing Department of Harmon...
Natraj Company uses the weighted-average method in its process costing system. The Curing Department of Harmon Company reported the following information for the month of November. Units Percentage Complete With Respect to Conversion Work in process, November 1 10,000 80% Units started 28,000 Completed and transferred out 30,000 Work in process, November 30 8,000 30% Cost of November: Materials Conversion Work in process, November 1 $34,500 $48,600 Added during the month $146,000 $194,400 All materials are added at the beginning...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT