Equivalent Units, No Beginning Work in Process

Hromas Manufacturing produces cylinders used in internal combustion engines. During June, Hromas' welding department had the following data:

Units in BWIP	?
Units completed	59,000
Units in EWIP (40% complete)	8,700

Required:

Calculate June's output for the welding department in equivalent units of production. _________________ units

2.

Unit Cost, Valuing Goods Transferred Out and EWIP

During May, the molding department of Lawler Foundry completed and transferred out 39,000 units. At the end of May, there were 15,000 units in process, 60% complete. Lawler incurred manufacturing costs totaling $688,000.

Required:

1. Calculate the unit cost. When required, round your answer to the nearest cent. $ ________ per unit

2. Calculate the cost of goods transferred out and the cost of EWIP. Do not round unit cost value in intermediate calculations. Round your final answers to the nearest cent.

Cost of goods transferred out	$ ____________
Cost of EWIP	$ ____________

3.

Weighted Average Method, Unit Cost, Valuing Inventories

Cassien Inc. manufactures products that pass through two or more processes. During June, equivalent units were computed using the weighted average method:

Units completed	96,000
Units in EWIP X Fraction complete (36,000 X 60%)	21,600
Equivalent units of output	117,600
June's costs to account for are as follows:
BWIP (10,000 units, 80% complete)	$8,000
Materials	108,000
Conversion costs	43,000
Total	$159,000

Required:

1. Calculate the unit cost for June using the weighted average method. Round your answer to the nearest cent. $ _________________ per unit

2. Using the weighted average method, determine the cost of EWIP and the cost of the goods transferred out. If required, round unit cost to the nearest cent in intermediate calculations and final answers to the nearest dollar.

Cost of ending work in process	$ _________________
Cost of the goods transferred out	$ _________________

4.

First-In, First-Out Method; Equivalent Units

Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:

Production:
Units in process, July 1, 80% complete	21,800 gallons	21,800 gallons
Units completed and transferred out	138,000 gallons	138,000 gallons
Units in process, July 31, 75% complete	13,800 gallons	13,800 gallons
Costs:
Work in process, July 1	$21,800	$21,800
Costs added during July	301,000	301,000

Required:

1. Calculate the equivalent units for July. _________________ equivalent units

2. Calculate the unit cost. Round your answer to the nearest cent. $ _________________ per unit

3. Assign costs to units transferred out and EWIP using the FIFO method. If required, round your final answers to the nearest cent.

Cost of units transferred out	$ _________________
Ending work in process	$ _________________

5.

FIFO; Production Report

Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:

Production:
Units in process, July 1, 80% complete		24,000 gallons
Units completed and transferred out		137,000 gallons
Units in process, July 31, 75% complete		16,000 gallons
Costs:
Work in process, July 1		$23,600
Costs added during July		301,000

Required:

Prepare a production report. Round all intermediate calculations and per unit amounts to the nearest cent. Round final answers to the nearest dollar or unit (except for per unit amounts). Note: "Total costs to account for" and "Total costs to account for" would be different due to rounding.

Inca Inc. Mixing Department

Production Report

For the Month of July (FIFO Method)

Physical flow:

Units to account for: Units
Units in beginning WIP _______
Units started _______
Total units to account for _______

Units to account for:

Units started and completed _______
From beginning WIP _______
Units in ending WIP _______
Total units to account for _______
Equivalent units:
Started and completed _______
To complete beginning WIP _______
Units in ending WIP _______
Total equivalent units _______

Cost Information

Costs to account for:

Dollars
Costs in beginning WIP _______
Costs added by department _______
Total costs to account for _______
Cost per equivalent unit _______

Costs accounted for:

Total
Transferred out:
Units started and completed _______
Units in beginning work in process:
From prior period _______
From current period _______
Total cost transferred out _______
Goods in ending work in process _______
Total costs accounted for _______ First-In, First-Out Method; Equivalent Units Lawson Company produces a product where all manufacturing inputs are applied uniformly. Lawson produced the following physical flow schedule for March: Units to account for: Units in BWIP (40% complete) 14,000 Units started 43,000 Total units to account for 57,000 Units accounted for: Units completed: From BWIP 14,000 Started and completed 36,000 50,000 Units, EWIP (75% complete) 7,000 Total units accounted for 57,000 Prepare a schedule of equivalent units using the FIFO method. Lawson Company Schedule of equivalent units (FIFO method) Units started and completed ___________ Units in BWIP x fraction to be completed: ___________ Units in EWIP x fraction complete: ___________ Equivalent units of output___________

Equivalent Units, No Beginning Work in Process Hromas Manufacturing produces cylinders used in internal combustion engines. During June, Hromas' welding department had the following data: Units in BWIP Units completed 59,000 Units in EWIP (40% complete) 8,700 Required: Calculate June's output for the welding department in equivalent units of production. _________________ units 2. Unit Cost, Valuing Goods Transferred Out and EWIP During May, the molding department of Lawler Foundry completed and transferred out 39,000 units. At the end of May, there were 15,000 units in process, 60% complete. Lawler incurred manufacturing costs totaling $688,000. Required: 1. Calculate the unit cost. When required, round your answer to the nearest cent. $ ________ per unit 2. Calculate the cost of goods transferred out and the cost of EWIP. Do not round unit cost value in intermediate calculations. Round your final answers to the nearest cent. Cost of goods transferred out $ ____________ Cost of EWIP $ ____________ 3. Weighted Average Method, Unit Cost, Valuing Inventories Cassien Inc. manufactures products that pass through two or more processes. During June, equivalent units were computed using the weighted average method: Units completed 96,000 Units in EWIP X Fraction complete (36,000 X 60%) 21,600 Equivalent units of output 117,600 June's costs to account for are as follows: BWIP (10,000 units, 80% complete) $8,000 Materials 108,000 Conversion costs 43,000 Total $159,000 Required: 1. Calculate the unit cost for June using the weighted average method. Round your answer to the nearest cent. $ _________________ per unit 2. Using the weighted average method, determine the cost of EWIP and the cost of the goods transferred out. If required, round unit cost to the nearest cent in intermediate calculations and final answers to the nearest dollar. Cost of ending work in process $ _________________ Cost of the goods transferred out $ _________________ 4. FirstIn, FirstOut Method; Equivalent Units Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 21,800 gallons Units completed and transferred out 138,000 gallons Units in process, July 31, 75% complete 13,800 gallons Costs: Work in process, July 1 $21,800 Costs added during July 301,000 Required: 1. Calculate the equivalent units for July. _________________ equivalent units 2. Calculate the unit cost. Round your answer to the nearest cent. $ _________________ per unit 3. Assign costs to units transferred out and EWIP using the FIFO method. If required, round your final answers to the nearest cent. Cost of units transferred out $ _________________ Ending work in process $ _________________ 5. FIFO; Production Report Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 24,000 gallons Units completed and transferred out 137,000 gallons Units in process, July 31, 75% complete 16,000 gallons Costs: Work in process, July 1 $23,600 Costs added during July 301,000 Required: Prepare a production report. Round all intermediate calculations and per unit amounts to the nearest cent. Round final answers to the nearest dollar or unit (except for per unit amounts). Note: "Total costs to account for" and "Total costs to account for" would be different due to rounding. Inca Inc. Mixing Department Production Report For the Month of July (FIFO Method) Physical flow: Units to account for: Units Units in beginning WIP _______ Units started _______ Total units to account for _______ Units to account for: Units started and completed _______ From beginning WIP _______ Units in ending WIP _______ Total units to account for _______ Equivalent units: Started and completed _______ To complete beginning WIP _______ Units in ending WIP _______ Total equivalent units _______ Cost Information Costs to account for: Dollars Costs in beginning WIP _______ Costs added by department _______ Total costs to account for _______ Cost per equivalent unit _______ Costs accounted for: Total Transferred out: Units started and completed _______ Units in beginning work in process: From prior period _______ From current period _______ Total cost transferred out _______ Goods in ending work in process _______ Total costs accounted for _______ FirstIn, FirstOut Method; Equivalent Units Lawson Company produces a product where all manufacturing inputs are applied uniformly. Lawson produced the following physical flow schedule for March: Units to account for: Units in BWIP (40% complete) 14,000 Units started 43,000 Total units to account for 57,000 Units accounted for: Units completed: From BWIP 14,000 Started and completed 36,000 50,000 Units, EWIP (75% complete) 7,000 Total units accounted for 57,000 Prepare a schedule of equivalent units using the FIFO method. Lawson Company Schedule of equivalent units (FIFO method) Units started and completed ___________ Units in BWIP x fraction to be completed: ___________ Units in EWIP x fraction complete: ___________ Equivalent units of output___________