Sunland Company uses the FIFO method to compute equivalent units. It has 4500 units in beginning work in process, 20% complete asto conversion costs and 50% complete as to materials costs, 65500 units started, and 5900 units in ending work in process, 30%complete as to conversion costs, and 80% complete as to materials cost. How much are the equivalent units for materials under theFIFO method?6550070000O66570O68650

> Given data:> opening Inventroy = 4500> Closing units = 5900

Answered: Sunland Company uses the FIFO method to…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 11EA: Mazomanie Farm completed 20,000 units during the quarter and has 2,500 units still in process. The...

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The following product Costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor, $22.000; manufacturing overhead, $16.500; selling expenses, $6,900; and administrative expenses, $15,200. What are the prime costs? What are the conversion costs? What is the total product cost? What is the total period cost? If 7,750 equivalent units are produced, what is the equivalent material cost per unit? If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit?
A production department within a company received materials of $7,000 and conversion costs of $5,000 from the prior department. It added material of $78400 and conversion costs of $47000. The equivalent units are 5,000 for material and 4,000 for conversion. What is the unit cost for materials and conversion?
Mazomanie Farm completed 20,000 units during the quarter and has 2,500 units still in process. The units are 100% complete with regard to materials and 55% complete with regard to conversion costs. What are the equivalent units for materials and conversion?
Vexar manufactures nails. Manufacturing is a one-step process where the nails are forged. This is the information related to this years production: Â Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is $115,080 and the total conversion cost is $72,072. Using the weighted-average method, what are the unit costs if the company transferred out 34,000 units? Using the weighted-average method, prepare the companys process cost summary for the month.
Cool Pool has these costs associated with production of 20,000 units of accessory products: direct materials, $70; direct labor, $110; variable manufacturing overhead, $45; total fixed manufacturing overhead, $800,000. What is the cost per unit under both the variable and absorption methods?
Using the following information for ABC company answer the question below. - Equivalent units for direct material are 15,000 units -Equivalent units for conversion costs are 25,000 units -Costs for beginning work in process direct materials $15000 -Costs for beginning work in process conversion cost $25000 - Direct materials added in the current period $45,000 Conversion costs added in the current period $50,000 Required: A- compute the cost per equivalent unit for direct materials and conversion cost assuming ABC company uses weighted-average method B-compute the cost per equivalent unit for direct materials and conversion cost assuming ABC company uses FIFO method
Crane Industries has equivalent units of 7000 for materials and for conversion costs. Total manufacturing costs are $111000. Total materials costs are $90000. How much is the conversion cost per unit? $15.86. $3.00. $28.71. $12.86.
Sheffield Company has unit costs of $6 for direct materials and $15 for conversion costs. There are 4000 units in ending Work in Process inventory that are 30% complete related to conversion costs, and fully complete related to direct materials cost. How much is the total cost assigned to the ending Work in Process inventory if the weighted-average method is used? a. $84000 b. $18000 c. $42000 d. $24000
At Trent Company, there are 800 units of ending work in process that are 100% complete as to materials and 40% complete as to conversion costs. If the unit cost of materials is $3 and the total costs assigned to the 800 units is $6000, what is the per unit conversion cost? (Round answer to 2 decimal places, e.g. 2.25.)
Hercules Chemical Corporation uses process costing to calculate unit costs. For one of its products, conversion cost per unit equals S6. Total materials costs equal $80,000. Equivalent units for materials are 10,000. What is the total manufacturing cost per unit?
Bonita Industries has equivalent units of 8600 for materials and for conversion costs. Total manufacturing costs are $127100. Total materials costs are $97000. How much is the conversion cost per unit? $14.78. $11.28. $26.06. $3.50.
Wilco Inc. uses a process costing system with two cost categories (Materials and Conversion). Wilco completed and transferred out 45,000 units during the most recent period. Wilco also computed that they had 50,000 equivalent units of materials and 47,500 equivalent units of conversion. If the material cost per equivalent unit was $2.50 and the conversion cost per equivalent unit is $3.00, what is the cost of goods completed and transferred out?

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