Question: Jumper Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a

Jumper Company uses the weighted-average method in its process costing system. The

Jumper Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process... 400 100% Percent complete with respect to materials. Percent complete with respect to conversion... 80% Costs in the beginning inventory: Materials cost.... $1,800 Conversion cost... $3,300 Units started into production during the month. 15,000 14,400 Units completed and transferred out during the month... Costs added to production during the month: Materials cost..... $97,000 $215,000 Conversion cost.. Work in process, ending: Units in process. ? 80% Percent complete with respect to materials...... Percent complete with respect to conversion... 40% What were the equivalent units of production for materials and conversion costs? What was the cost per equivalent unit for materials and conversion cost? How much cost, in total, was transferred to the next department during the month? How much cost, in total, is in ending work in process inventory?

Step by Step Solution

★★★★★

3.34 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

1 Answer The equivalent units of production for materials and conversion costs were 15200 units and ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The Converting Department of Girders Company uses the weighted average cost method and had 3,500 units in work in process that were 60% complete at the beginning of the period. During the period,...

The Assembly Department of A-Okay Company uses the weighted average cost method and had 700 units in work in process that were 60% complete at the beginning of the period. During the period, 4,980...

In Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below Beginning work in process...

MediSecure, Inc., produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department's operations in the most recent period appear...

Scribners Corporation produces fine papers in three production departmentsPulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically...

Comprehensive Problem; Second Production DepartmentWeighted-Average Method Old Country Links Inc. produces sausages in three production departmentsMixing, Casing and Curing, and Packaging. In the...

Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,000 units and transferred them to...

Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the...

Fong Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2012...

Stillwater Designs is expanding its market by becoming an original equipment supplier to DaimlerChrysler. DaimlerChrysler will offer a high-end Kicker audio package for its Dodge Neon SRT4 line. As...

For the given sets A and B, find A B, A B, and Ac (the complement of A). 1. A and B are subsets of the set S = {0, 1, 2, 3, 4}. A = {0, 1, 2} and B = {0, 2, 4}. 2. A and B are subsets of the set S...

Fill in the table using the following information. Assets required for operation: $2,000 Case Afirm uses only equity financing Case Bfirm uses 30% debt with a 10% interest rate and 70% equity Case...

Which one of the following methods of valuing real estate is similar to the price - to - sales approach to valuing stocks? A ) Perpetuity model B ) Gross income multiplier C ) Discounted cash flow D...

6. Ammonia can be synthesized according to the reaction: Kp = 5.3 x 105 @725 K N2 (g) + 3 H2 (g) = 2 NH3 (g) A 200.0-L reaction container initially contains a mixture of 13.7 atm N2, 45.8 atm H2, and...

Discuss the potential role of strategic cost management in the operations of your organisation

The partnership form of organization has advantages and disadvantages. The chapter noted that different types of partnerships have been developed to minimize some of these disadvantages....

To form a partnership, each partner contributes personal assets in exchange for a share of ownership in the partnership. Net income or net loss is distributed among the partners . If the partnership...

Water is to be pumped from reservoir A through a pipe to another reservoir B. Reservoir A is 1910m above sea level and Reservoir B is 1908m above sea level. The pipeline connecting both reservoirs is...

To be clear, the actual label Y can never be c + 1. 1. First, we will simplify the risk function using our specific loss function separately for when r(x) is or is not the doubt category. (a) Prove...

Sons Question Completion Status: Jumper Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for April...

Jumper Company uses the weighted-average method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process,...

Diston Company uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 21,000 units in its beginning work in...

1. 2. 3 4. 5. 6. 7 8 9 10 6 Part 6 of 15 D cints eBook References Required information. [The following information applies to the questions displayed below] Clopack Company manufactures one product...

1. (a) Use the following information for the Exercises below. [The following information applies to the questions displayed below] Fields Company has two manufacturing departments, forming and...

1.) The Miracle Company had 20,000 units in process on December 31, 2016 which was 80% complete as to materials but only 40% complete as to conversion costs. The company's records show 40,000 units...