Question
In: Accounting
Define each of the following terms: Units in beginning work in process inventory Units started and...
Define each of the following terms:
- Units in beginning work in process inventory
- Units started and completed during the monthly time period.
- Units in ending work in process at the end of the month.
- Define equivalent units of production.
- Why do we need separate calculations for Direct Materials and Conversion Costs?
- In a manufacturing process define Yield
Solutions
Expert Solution
1.Units in beginning work-in-process inventory are the units that are in production but that have not yet been completed at the end of Previous accounting period.
2.Units Started and completed during the monthly time period are the units which are introduced in the production in during the month and completed the production in the same month itself.
3.Units in ending work-in-process inventory are the units that are in production but that have not yet been completed at the end of an accounting period.
4.Units in ending work-in-process inventory are the units that are in production but that have not yet been completed at the end of an accounting period.
5.Units in ending work-in-process inventory are the units that are in production but that have not yet been completed at the end of an accounting period.
6.Units in ending work-in-process inventory are the units that are in production but that have not yet been completed at the end of an accounting period.
ekkarill92 answered 1 year agoRelated Solutions
The Assembly Department started the month with 24,600 units in its beginning work in process inventory....
The Assembly Department started the month with 24,600 units in
its beginning work in process inventory. An additional 309,600
units were transferred in from the prior department during the
month to begin processing in the Assembly Department. There were
29,600 units completed and transferred to the next processing
department during the month. How many units were in its ending work
in process inventory?
Multiple Choice
363,800
304,600
334,200
314,600
Litres Costs Beginning work in process inventory 0 litres Beginning work in process inventory $0 Started...
Litres
Costs
Beginning work in process inventory
0
litres
Beginning work in process inventory
$0
Started production
14,300
litres
Costs added during November:
Completed and transferred out to
Chicken
21,740
Retort in November
13,600
litres
Cream
4,000
Ending work in process inventory
Green peppers and mushrooms
5,440
(60% of the way through the
Direct labour
11,200
mixing process)
700
litres
Manufacturing overhead
9,830
Total costs
$52,210
1.
Fill in the time line for the Mixing Department.
2.
Use
the time...
1. Units Beginning Work-in-Process 5,000 Started During the Period 50,000 Ending Work-in-Process 2,000 The ending work-in-process inventory...
1. Units
Beginning Work-in-Process 5,000
Started During the Period 50,000
Ending
Work-in-Process 2,000
The ending work-in-process inventory is 90% complete. What is the
total number of equivalent units?
2. At the beginning of the period, there were 800 units of
product in a company's work in process inventory. 3,000 additional
units of product were started during the period. 1,500 units of
product were in the Work in Process account at the end of the
period. The ending work in process inventory...
10. If 151200 units are started into production there was no beginning work in process, and...
10. If 151200 units are started into production there was no
beginning work in process, and 49600 units are in process at the
end of the period, how many units were completed and transferred
out?
200800.
49600.
151200.
101600.
11.Marigold Corp. reported the following year-end
information:
Beginning work in process
inventory
$ 52000
Beginning raw materials
inventory
28000
Ending work in process
inventory
50000
Ending raw materials inventory
25000
Raw materials purchased
860000
Direct labor
440000
Manufacturing overhead
100000
How...
Crane Company has gathered the following information. Units in beginning work in process 0 Units started...
Crane Company has gathered the following information.
Units in beginning work in process
0
Units started into production
37,300
Units in ending work in process
8,200
Percent complete in ending work in process:
Conversion costs
40
%
Materials
100
%
Costs incurred:
Direct materials
$78,330
Direct labor
$66,500
Overhead
$105,114
Compute equivalent units of production for materials and for
conversion costs.
Materials
Conversion Costs
The equivalent units of production
Determine the unit costs of production. (Round unit
costs to 2...
Baden Company has gathered the following information. Units in beginning work in process 0 Units started...
Baden Company has gathered the following information.
Units in beginning work in process
0
Units started into production
40,100
Units in ending work in process
8,000
Percent complete in ending work in process:
Conversion costs
40
%
Materials
100
%
Costs incurred:
Direct materials
$80,200
Direct labor
$61,900
Overhead
$109,305
Part 1
Compute equivalent units of production for materials and for
conversion costs.
Materials
Conversion Costs
The equivalent units of production
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Attempts: 0 of...
Baden Company has gathered the following information. Units in beginning work in process 0 Units started...
Baden Company has gathered the following information.
Units in beginning work in process
0
Units started into production
37,000
Units in ending work in process
7,200
Percent complete in ending work in process:
Conversion costs
40
%
Materials
100
%
Costs incurred:
Direct materials
$ 83,250
Direct labor
$ 65,200
Overhead
$ 109,638
(a)
Compute equivalent units of production for materials and for
conversion costs.
Materials
Conversion Costs
The equivalent units of production
(b)
Determine the unit costs of production....
Baden Company has gathered the following information. Units in beginning work in process 0 Units started...
Baden Company has gathered the following information. Units in
beginning work in process 0 Units started into production 43,900
Units in ending work in process 8,500 Percent complete in ending
work in process: Conversion costs 40 % Materials 100 % Costs
incurred: Direct materials $80,500 Direct labor $68,700 Overhead
$103,800
9.If 149100 units are started into production there was no beginning work in process, and 49500...
9.If 149100 units are started into production there was no
beginning work in process, and 49500 units are in process at the
end of the period, how many units were completed and transferred
out?
198600.
49500.
149100.
99600.
10. If 151200 units are started into production there was no
beginning work in process, and 49600 units are in process at the
end of the period, how many units were completed and transferred
out?
200800.
49600.
151200.
101600.
11.
Marigold Corp....
Process Costing - Weighted Average Physical Flow of Units January Work-in-Process - Beginning 2800 Units Started...
Process Costing - Weighted Average Physical Flow of Units
January Work-in-Process - Beginning 2800 Units Started this Period
22000 Units to Account for 24800 7,000 Total transferred out 17,800
units {13.01} Work-in-Process - Ending 7,000 units {13.02} Total
Accounted for 17800 Equivalent Units Material (Round to three
places, ##.###.###) 24,800.000 {13.03} Equivalent Units Conversion
(Round to three places, ##.###.###) {13.04} I need help calculating
equivalent units converion PART 4.1 Process Costing - Weighted
Average General Information The I See The...
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