Work in process, beginning Started in production Completed and transferred out Work in process, ending Work...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Work in process, beginning Started in production Completed and transferred out Work in process, ending Work in process, beginning Costs added during the period. Units BOO 15,000 15,600 7 Work in process, ending ulate the following. (12 marks) Percentage Complete Conversion Costs 20% Materials 50% 50% Materials $2,440 $96,470 90% Conversion Costs 54,928 $476,362 apter formulas Unit product cost Total manufacturing cost (including overhead)/ Total units produced Equivalent units Number of partially completed units x percentage completion Equivalent units of production Units transferred to the next department of finished goods + Equivalent units in ending work in process ine Cost per equivalent unit (Cost of beginning WIP+ Cost added during the period)/Equivalent units of production red: Calculate the actual units in ending work in process for the most recent period. (2 marks) Equivalent units Conversion Costs Work in process, beginning Started in production Completed and transferred out Work in process, ending Work in process, beginning Costs added during the period Units 800 15,000 15,600 7 ork in process, ending Percentage Complete Conversion Costs 20% Materials 50% Materials $2,440 $96,470 50% Conversion Costs $4,928 $476,362 apter formulas Unit prodúct cost Total manufacturing cost (including overhead)/ Total units produced Equivalent units Number of partially completed units x percentage completion Equivalent units of production Units transferred to the next department of finished goods+ Equivalent units in ending work in pre Cost per equivalent unit (Cost of beginning WIP+ Cost added during the period)/Equivalent units of production ed: Calculate the actual units in ending work in process for the most recent period. (2 marks) 24 IN Work in process, ending Part 2: Calculate the following. (12 marks) Equivalent units of production Cost per equivalent unit Equivalent units Materials Conversion Costs Materials dx Conversion Costs Total Cost Supporting calculatie Work in process, beginning Started in production Completed and transferred out Work in process, ending Work in process, beginning Costs added during the period. Units BOO 15,000 15,600 7 Work in process, ending ulate the following. (12 marks) Percentage Complete Conversion Costs 20% Materials 50% 50% Materials $2,440 $96,470 90% Conversion Costs 54,928 $476,362 apter formulas Unit product cost Total manufacturing cost (including overhead)/ Total units produced Equivalent units Number of partially completed units x percentage completion Equivalent units of production Units transferred to the next department of finished goods + Equivalent units in ending work in process ine Cost per equivalent unit (Cost of beginning WIP+ Cost added during the period)/Equivalent units of production red: Calculate the actual units in ending work in process for the most recent period. (2 marks) Equivalent units Conversion Costs Work in process, beginning Started in production Completed and transferred out Work in process, ending Work in process, beginning Costs added during the period Units 800 15,000 15,600 7 ork in process, ending Percentage Complete Conversion Costs 20% Materials 50% Materials $2,440 $96,470 50% Conversion Costs $4,928 $476,362 apter formulas Unit prodúct cost Total manufacturing cost (including overhead)/ Total units produced Equivalent units Number of partially completed units x percentage completion Equivalent units of production Units transferred to the next department of finished goods+ Equivalent units in ending work in pre Cost per equivalent unit (Cost of beginning WIP+ Cost added during the period)/Equivalent units of production ed: Calculate the actual units in ending work in process for the most recent period. (2 marks) 24 IN Work in process, ending Part 2: Calculate the following. (12 marks) Equivalent units of production Cost per equivalent unit Equivalent units Materials Conversion Costs Materials dx Conversion Costs Total Cost Supporting calculatie
Expert Answer:
Answer rating: 100% (QA)
It appears you are asking for assistance with a process costing problem commonly encountered in mana... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
China Manufacturing Company applies process costing in the manufacture of its sole product, "SARS-NCOV-2". Manufacturing starts in Laboratory 1 where materials are all added at the start of...
-
Question list K Solve for x. 54x-2 = 25 Question 1 Question 2 The solution set is . Question 3 Question 4 Question 5 Question 6 Question 7
-
This exercise relates to the Double Diamond Skis' Shaping and Milling Department that was discussed earlier in the chapter. The Excel worksheet form that appears below consolidates data from Exhibits...
-
The LEGO company is a perfect example of planning. They carefully crafted the name from two phrases into one word. Besides the name, they also planned how they would make the bricks fit into one...
-
Your client, a manufacturer of computer components, has experienced slowing demand for its product. Recently, it cut back from three shifts a day to two shifts a day, and the company has eliminated...
-
Two particles, an -particle and a -particle, are travelling through a uniform magnetic field. They have the same speed and their velocities are at right angles to the field. Determine the ratio of:...
-
How to organize litigation files for trial?
-
The COSO internal control framework identifies five components of an entity's internal control. Which, if any, of those five components of Avon's internal control were flawed? Explain. If there were...
-
This specific discussion will center around the evils of every economy. Locate an article about one of these topics. Topics: inflation and unemployment You may not use anything from social media. My...
-
Kolbec Community College (KCC) has 4,000 full-time students and offers a variety of academic programs in three areas: professional studies, arts, and technology. The professional studies programs...
-
Abacus Corp. and Calculator Inc. have identical assets that produce an identical, perpetual cash flow of 20 million per year. Both companies have 20 million shares outstanding. However, Calculator...
-
For this two-step task, create an analysis report using secondary research that explains Tenzing Natural Energy, its competition (at least two key competitors), pricing, distribution channels,...
-
How should y1 be decided Airline Example: 2 Classes Data: Capacity is 100 seats. Two fare classes: - Full fare: f1 = $499. y1 - Discounted fare: f2 = $99. Two customer classes: - Business: Book in...
-
Factor. 2 5p - 24p - 5
-
1- write a python program that prompt the user to enter 5 numbers, if the number is negative it is displayed on the screen 2- write a python program that enters a price of a car, if the price is...
-
Can you elaborate on the principles of advanced constitutive modeling approaches, such as the use of critical state soil mechanics and advanced soil-structure interaction theories, in predicting the...
-
Liv tells her classmates that she is considering selling her car after she graduates college in May. This is a valid offer which her classmate may accept. True False Alice offers to sell Bob a puppy...
-
In Problem use geometric formulas to find the unsigned area between the graph of y = f(x) and the x axis over the indicated interval. f(x) = x + 5; [0, 4]
-
Amigo Glass Company manufactures glass for sliding glass doors. At the start of August, 2,000 units were in process. During August, 11,000 units were complete and 3,000 units were in process at the...
-
Each of the following events/amounts is independent of all others. 1. Decrease in inventory. 2. Loss on sale of an asset. 3. Amortization of a patent 4. Increase in wages payable. 5. Increase in...
-
The Watch and Timepiece Division of Geraldo Jewelers had significant problems in 2012.Sales and production were down by almost 30 percent as compared with the budget. Manufacturing was plagued by...
-
In some speed ranges, vortices are shed from the rear of bluff cylinders placed across a flow. The vortices alternately leave the top and bottom of the cylinder, as shown, causing an alternating...
-
On a cruise ship, passengers complain about the amount of smoke that becomes entrained behind the cylindrical smoke stack. You have been hired to study the flow pattern around the stack, and have...
-
A 1:8 scale model of a tractor-trailer rig is tested in a pressurized wind tunnel. The rig width, height, and length are \(W=0.305 \mathrm{~m}\), \(H=0.476 \mathrm{~m}\), and \(L=2.48 \mathrm{~m}\),...
Study smarter with the SolutionInn App