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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
ekkarill92 answered 2 years agoRelated 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)...
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...
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 -...
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