Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process...

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Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Physical Units Equivalent Units Direct Conversion Materials Costs Completed and transferred out during current period 32,000 32,000 32,000 Work in process, ending (given) 13,000 13,000 x 100%; 13,000 70% Accounted for Equivalent units of work done to date 13,000 9,100 45,000 45,000 41,100 *Degree of completion reported in this plant: direct materials, 100%; conversion costs, 70%. Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work- in-Process inventory; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Data table Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work- in-Process inventory; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Costs incurred to date Divide by equivalent units of work done to date Quarter 4, 2020 Total Production Costs $ Direct Materials Conversion Costs 135,000 $ 45,000 230,160 41,100 $ 3.00 $ 5.60 Cost per equivalent unit of work done to date Assignment of costs: Completed and transferred out (32,000 units) $ 275,200 (32,000 - $3.00) (32,000 * $5.60) Work in process, ending (13,000 units) $ 89,960 365,160 $ (13,000 * $3.00) (9,100 $5.60) 135,000 $ 230,160 Total costs accounted for Print Done Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Physical Units Equivalent Units Direct Conversion Materials Costs Completed and transferred out during current period Work in process, ending" (given) 13,000 80%, 13,000 50% Accounted for Equivalent units of work done to date "Degree of completion reported in this plant direct materials, 80%; conversion costs. 50%. Recalculate the cost per equivalent unit amounts, cost of units completed and transferred out, cost of ending work in process inventory, and total costs accounted for, assuming the actual percentage of completion of ending work in process was 80% for direct materials and 50% for conversion costs. (Round per unit amounts to five decimal places. X.XXXX, and all other amounts to the nearest whole dollar.) Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work-in- Process Inventory; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, Costs incurred to date Divide by equivalent units of work done to date Cost per equivalent unit of work done to date Assignment of costs Completed and transferred out (32,000 units) 2020 Production Costs Direct Materials Conversion Costs Work in process, ending (13,000 units) Total costs accounted for Requirement 3. Why might managers manipulate their quarterly estimates of percentage of completion? Explain. The reported monthly cost per equivalent unit of either direct materials or conversion costs is lower when the plant manager ending work in process; the increases the denominator and, thus, Identify two motivations a manager might have to report lower cost per equivalent unit numbers: the percentage of completion of the cost per equivalent unit. Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Physical Units Equivalent Units Direct Conversion Materials Costs Completed and transferred out during current period 32,000 32,000 32,000 Work in process, ending (given) 13,000 13,000 x 100%; 13,000 70% Accounted for Equivalent units of work done to date 13,000 9,100 45,000 45,000 41,100 *Degree of completion reported in this plant: direct materials, 100%; conversion costs, 70%. Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work- in-Process inventory; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Data table Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work- in-Process inventory; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Costs incurred to date Divide by equivalent units of work done to date Quarter 4, 2020 Total Production Costs $ Direct Materials Conversion Costs 135,000 $ 45,000 230,160 41,100 $ 3.00 $ 5.60 Cost per equivalent unit of work done to date Assignment of costs: Completed and transferred out (32,000 units) $ 275,200 (32,000 - $3.00) (32,000 * $5.60) Work in process, ending (13,000 units) $ 89,960 365,160 $ (13,000 * $3.00) (9,100 $5.60) 135,000 $ 230,160 Total costs accounted for Print Done Summary of the Flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Physical Units Equivalent Units Direct Conversion Materials Costs Completed and transferred out during current period Work in process, ending" (given) 13,000 80%, 13,000 50% Accounted for Equivalent units of work done to date "Degree of completion reported in this plant direct materials, 80%; conversion costs. 50%. Recalculate the cost per equivalent unit amounts, cost of units completed and transferred out, cost of ending work in process inventory, and total costs accounted for, assuming the actual percentage of completion of ending work in process was 80% for direct materials and 50% for conversion costs. (Round per unit amounts to five decimal places. X.XXXX, and all other amounts to the nearest whole dollar.) Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work-in- Process Inventory; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, Costs incurred to date Divide by equivalent units of work done to date Cost per equivalent unit of work done to date Assignment of costs Completed and transferred out (32,000 units) 2020 Production Costs Direct Materials Conversion Costs Work in process, ending (13,000 units) Total costs accounted for Requirement 3. Why might managers manipulate their quarterly estimates of percentage of completion? Explain. The reported monthly cost per equivalent unit of either direct materials or conversion costs is lower when the plant manager ending work in process; the increases the denominator and, thus, Identify two motivations a manager might have to report lower cost per equivalent unit numbers: the percentage of completion of the cost per equivalent unit.