The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (36,000 units): Percentage complete with respect to Costs Ending work in process (52,000 units): Percentage complete with respect to Costs Materials Conversion 100% $ 88,600 20% $ 23,636 100% 60% ?? ?? The Remington Plant started 226,000 units and transferred out 210,000 in July. Materials costs incurred in July were $694,000 and conversion costs were $1,079,000. Required: Compute the cost per equivalent unit for materials and conversion costs using the FIFO method. Note: Round your answers to 2 decimal places. Direct Materials Conversion Cost per equivalent unit

The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (36,000 units): Percentage complete with respect to Costs Ending work in process (52,000 units): Percentage complete with respect to Costs Materials Conversion 100% $ 88,600 20% $ 23,636 100% 60% ?? ?? The Remington Plant started 226,000 units and transferred out 210,000 in July. Materials costs incurred in July were $694,000 and conversion costs were $1,079,000. Required: Compute the cost per equivalent unit for materials and conversion costs using the FIFO method. Note: Round your answers to 2 decimal places. Direct Materials Conversion Cost per equivalent unit

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PA: During March, the following costs were charged to the manufacturing department: $14886 for...

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There were 1,700 units in beginning inventory that were 40% complete with regard to conversion. During the month, 8,550 units were started and 9,000 were transferred to finished goods. The ending work in process was 60% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method?
Marzons records show raw materials Inventory had a beginning balance of $200 and an ending balance of $300. If the cost of materials used during the month was $900, what were the purchases made during the month?
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Norwood Co. had 200 units in work in process at the beginning of the month. During the month, 7,500 units were started in production, 6,800 of which, along with the beginning work in process, were completed by the end of the month. The uncompleted units were in ending inventory, one-half complete. What were the equivalent units of production for the month?
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The journal entry to record the $500 of work in process ending inventory that consists of $300 of direct materials, $50 of manufacturing overhead, and $150 od direct labor is which of the following?
Sterlings records show the work in process Inventory had a beginning balance of $4000 and an ending balance of $3,000. How much direct labor was incurred if the records also show :
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