Part A The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given thatmaterials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted - average method? Assume that the quarters are independent. \table [[Beginning,,], [Quarter, \table [[Work in], [Process]], Started, Out, (%)],[1,, 255, 000, 235,50], [2, 2, 500, 275, 000, 250, 40], [3, 3, 600, 290, 000, 275,000, 45], [4, 6, 500, 300,000, 280, 000,60]] Part AThe following data show the units inbeginning work in process inventory, thenumber of units started, the number ofunits transferred, and the percentcompletion of the ending work in processfor conversion. Given that materials areadded at the beginning of the process,what are the equivalent units for materialand conversion costs for each quarterusing the weighted-average method?Assume that the quarters areindependent.BeginningQuarter Work in StartedProcess123 +24255,0002,500 275,0003,600 290,0006,500 300,000Transferred ConversionOut(%)235,000250,000275,000280,00050404560

Name: Part A The following data show the units in beginning work in process
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Description: Part A The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given thatmaterials are added at

Regardless of when the units were actually started, commencing WIP is deemed to have started and…

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Part A The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent. Beginning Quarter Work in Started Process 123 + 4 Transferred Conversion Out (%) 255,000 235,000 2,500 275,000 250,000 3,600 290,000 275,000 6,500 300,000 280,000 50 40 45 60

Part A The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent. Beginning Quarter Work in Started Process 123 + 4 Transferred Conversion Out (%) 255,000 235,000 2,500 275,000 250,000 3,600 290,000 275,000 6,500 300,000 280,000 50 40 45 60

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 7PA: The following data show the units in beginning work in process inventory, the number of units...

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The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Which is nor needed to compute equivalent units of production? A. the percentage of completion for inventory still in process B. the number of units transferred out C. the number of units started and completed D. the material cost per unit
The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent total dollars of expense, and the horizontal axes represent production in units, machine hours, or direct labor hours. In each case, the zero point is at the intersection of the two axes. Each graph may be used no more than once. Required: Select the graph that matches the lettered cost described here. a. Depreciation of equipmentthe amount of depreciation charged is computed based on the number of machine hours that the equipment was operated. b. Electricity billflat fixed charge, plus a variable cost after a certain number of kilowatt hours are used. c. City water billcomputed as follows: d. Depreciation of equipmentthe amount is computed by the straight-line method. e. Rent on a factory building donated by the citythe agreement calls for a fixed fee payment, unless 200,000 labor hours are worked, in which case no rent need be paid. f. Salaries of repair workersone repair worker is needed for every 1,000 machine hours or less (i.e., 0 to 1,000 hours requires one repair worker, 1,001 to 2,000 hours requires two repair workers, etc.).
Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method.
Required: (Use five decimal places to compute for unit cost) . What are equivalent units of production for conversion cost? 0. Total costs of transferred out units C. The amount of work in-process, end
The first step in determining the cost per EUP per cost component under the weighted average method is to * a. add the beginning Work in Process Inventory cost to the current period's production cost.b. divide the current period's production cost by the equivalent units.c. subtract the beginning Work in Process Inventory cost from the current period's production cost.d. divide the current period's production cost into the EUP.
The first step in applying the average cost method when computing for the unit cost is to: a. Add the beginning work in process costs to the current period’s production costs. b. Divide the current period’s production costs by the equivalent units. c. Subtract the beginning work in process costs from the current period’s production costs. d. A and B
a. Under Weighted Average Method, the EUP, Finished and Transferred was how many units?b. Under Weighted Average Method, the EUP for the Work in Process End was how many units?
Requirements: A. What is the total Equivalent production for Materials? B. What is the total Equivalent production for Conversion? C. What is the total Cost per unit to be used for allocation? D. What is the total cost of completed and transferred that will be carried to the next department/finished goods inventory? E. What is the total cost of in process ending for the period? F. What is the equivalent production of In process, end for Conversion? G. What is the equivalent production of competed and transferred for Materials? H. How much cost from losses will be added to completed and transferred?
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3. Using the following terms, prepare the worksheet to show the calculation to answer the question: Units completed and transferred out Cost per material Cost per conversion Equivalent units conversion Beginning inventory Units started in production Total units to account for Total work in process Ending inventory Units transferred in Total units accounted for Costs to account for Question: Given the following information, determine the equivalent units of ending work in process for materials and conversion under the weighted-average method: beginning inventory of 2,500 units is 100% complete with regard to materials and 60% complete with regard to conversion 18,000 units were started during the period 17,500 units were completed and transferred ending inventory is 100% complete with materials and 65% complete with conversion PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Units to Account For: Units ? ? ? ? ? ? Units Accounted For: Total Units…