Question
In: Accounting
The managerial accountant at Duck Manufacturing reported the following information: Units Beginning WIP 58,500 75% for...
The managerial accountant at Duck Manufacturing reported the following information:
|
Units |
|
|
Beginning WIP |
58,500 |
|
75% for materials |
|
|
45% for conversion |
|
|
Transferredminus−in |
224,000 |
|
Completed |
232,000 |
|
Ending WIP |
|
|
60% for materials |
|
|
20% for conversion |
50,500 |
|
Costs: |
|
|
Beginning WIP |
|
|
Direct materials |
$73,500 |
|
Conversion |
152,400 |
|
Transferredminus−in |
103,000 |
|
Transferredminus−in from department 1 |
$1,555,050 |
|
Direct materials added |
918,375 |
|
Conversion added |
5551,875 |
The cost of ending WIP is closest to
a)238,900
b)337,869
c) 143,959
d) 440,360
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Units Percentage Complete Cost Beginning WIP Inventory - August 22,000 Direct Materials 75% $ 4,200...
Units
Percentage Complete
Cost
Beginning WIP Inventory - August
22,000
Direct Materials
75%
$ 4,200
Conversion Cost
70%
$ 2,450
Units Started in August
12,000
Costs incurred in August
Direct Materials
$ 17,000
Conversion Cost
$ 16,800
Ending WIP Inventory
6,000
Direct Materials
80%
Conversion Cost
60%
Use weighted-average process costing to compute equivalent units
& prepare a PRODUCTION COST REPORT
Using the format below
% Completed
Equivalent Units
Flow of Units
Physical Units
DM
Conv
DM...
The managerial accountant at Fast and Mean Manufacturing reported that the organization contains an automated production...
The managerial accountant at Fast and Mean Manufacturing
reported that the organization contains an automated production
line to manufacture and produce its products for consumers to enjoy
in the marketplace. The managerial accountant reported that the
company uses the high-low method to estimate the costs in the new
budget. The managerial accountant reported the following
information:
Month
Total Machine-Hours
Total Costs
January
250,000
$5,500,000
February
248,000
$5,260,000
March
249,000
$5,400,000
April
248,000
$5,220,000
May
238,000
$5,180,000
June
230,000
$5,130,000
Compute...
A company’s Depart A had a beginning WIP of 200,000 units with 100% completed as it...
A company’s Depart A had a beginning
WIP of 200,000 units with 100% completed as it pertains to direct
materials and only 40% as it pertains to conversion costs.
Department A started 500,000 units during the period. Department A
transferred 400,000 total units to Department B during the period.
Department A’s ending WIP had 90% of direct materials completed and
30% of conversion costs. Compute the equivalent units of production
for the period for direct materials and conversion costs. (10...
UNITS: beginning WIP inventory (20% complete as to CC) 5,000 units started 20,000 units completed and...
UNITS:
beginning WIP inventory (20% complete as to CC)
5,000
units started
20,000
units completed and transferred out
15,000
ending WIP inventory (Mat 100%, CC 50% complete)
10,000
Costs:
beginning inventory
materials
$ 4,000
CC
$ 1,000
Current period:
materials
$ 16,000
CC
$ 4,000
All materials are added at the beginning of the process
Please show the calculations! doing it in excel!
1. What is your products equivalent units (EUP) for Mat &
CC using weighted average? -->
Materials...
Oriole Company reported the following information for the month of April: Units Work in Process Beginning...
Oriole Company reported the following information for the month
of April:
Units
Work in Process
Beginning inventory, April 1
7,200
Added to production
44,700
Completed and transferred out
?
Ending inventory, April 30
4,000
Ending inventory was 100% complete with respect to materials and
56% complete with respect to labor and overhead.
Oriole also reported the following cost information in
April:
Costs
Materials
Labor and Overhead
Work in Process
Beginning inventory, April 1
$11,000
$17,400
Added to production
67,700
135,000...
The following information is provided by Panther Company: WIP Inventory, January 1 0 units Units started...
The following information is provided by Panther Company:
WIP Inventory, January 1
0 units
Units started
22,000 units
Units completed and transferred out
9,000 units
WIP Inventory, December 31
13,000 units
Direct materials
$24,800
Direct labor
$13,300
Manufacturing Overhead
$11,300
The units were 80% complete for materials and 30% complete for
conversion costs.
How much are the total costs to be accounted for during the
year?
A.
$24,600
B.
$24,800
C.
$38,100
D. $49,400
Assume: BB WIP, 40% complete 10,000 units Started 100,000 EB WIP, 60% complete 12,000 Costs Beginning...
Assume:
BB WIP, 40% complete 10,000 units
Started 100,000
EB WIP, 60% complete 12,000 Costs
Beginning WIP:
DM $30,000
Conversion Costs $6,000
Materials used during the period $220,000
Conversion costs incurred during the period $150,000
Using a FIFO basis, what is the value of
a) goods transferred out
b) ending WIP?
Coopers Company reported the following information: Units Unit Cost Units Sold Jan 1 Beginning inventory 190...
Coopers Company reported the following information:
Units Unit Cost Units Sold
Jan 1 Beginning inventory 190 $50
Mar 8 Sale 100
Apr 10 Purchase 320 55
Jun 20 Sale 240
Oct 10 Purchase 570 60
Nov 30 Sale 450
Total
Selling price per unit
during the year: $75 790
Required Complete the following table.
Cost Total Periodic Perpetual Date Purchased per Unit Cost Sold
FIFO Weighted Average Units $ $ Units Units $ $ Units $ $
Manufacturing Company reported the following year-end information: Beginning work in process inventory $1,080,000 Beginning raw materials...
Manufacturing Company reported the following year-end
information: Beginning work in process inventory $1,080,000
Beginning raw materials inventory 300,000 Ending work in process
inventory 900,000 Ending raw materials inventory 480,000 Raw
materials purchased 960,000 Direct labor 900,000 Manufacturing
overhead 720,000 Laflin Manufacturing Company's cost of goods
manufactured for the year is $2,400,000 $2,580,000 $2,220,000
$2,760,000. Please, I need a help? Thanks.
Henry Company reported the following information for 2017: TRANSACTIONS UNITS UNIT COST Beginning Inventory – January...
Henry Company reported the following information for 2017:
TRANSACTIONS UNITS
UNIT COST
Beginning Inventory – January 1 6,000 $ 3.00
Purchases
April 10 9,000 3.50
July 20 5,000 3.80
November 24 5,000 4.00
During 2017, Henry sold 12,000 units. The company uses a
periodic inventory system.
REQUIRED:
What is the value of ending inventory and cost of goods sold for
2017 under the following assumptions:
FIFO
LIFO
Weighted-Average
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