Waterway Enterprises is aptly named because of its signature item-chewing gum! The owners started the business years ago when no existing gum had the right flavor and texture combination. After years of perfecting the process, they had a finely tuned operation. This year, Waterway's main processing department reported the following activity and costs. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion Units 400 23,200 22,500 1,100 DM 100% $240 $6,960 100% Conversion Costs 30% $425 $4,608 60% All DM resources are added to Waterway's processing department at the beginning of processing. Conversion costs are added evenly hroughout the process.
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- Marigold Paints makes various interior and exterior paints for its customers, but its current focus is on its top-selling interior brand. Marigold produces the paint in its mixing department and then transfers the paint to the canning department. The following information is presented for the canning department in March, recognizing that the company adds its conversion costs evenly throughout the process. One unit is one gallon of paint. Units in beginning WIP Inventory Beginning WIP Inventory degree of completion Costs in beginning WIP Inventory New units started Costs added to WIP Inventory this period Units completed Units in ending WIP Inventory Ending WIP Inventory degree of completion (a) Your Answer Correct Answer . . Total equivalent units of work done Cost per aquivalent Unit S Units Teep cost of units complete 1,700 Transferred-in 47,500 48,200 1,000 Transferred-In 100% 100% $12,020 $2,020 DM $408,500 $55,800 100% Complete Steps 1-5 of the template for the canning department…Required Information [The following Information applies to the questions displayed below.] Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the cutting process. The following information is available regarding Its May Inventories: Beginning Inventory Ending Inventory Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory $ 6,000 $ 9,250 43,500 51,500 63,300 60,500 20,100 8,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs Factory Overhead Rates Cutting Stitching $ 25,000 21,750 0 $ 15,600 62,400 $ 6,000 55,000…The processing department at Nash Corporation evaluated the costs associated with manufacturing paper towels for the past month. Beginning and newly added costs for May are as follows. Costs in beginning WIP Inventory (from last period) Costs added to WIP Inventory this period Total costs to account for (a) Your answer is partially correct. Beginning Balance Step 3: Account for costs New DM New Conversion Costs V Ending Balance Total costs $2,100 13,160 $15,260 $11,100 Show the T-account for Nash's WIP Inventory reflecting all of the appropriate costs above. WIP Inventory 2100 0 DM 13160 $1,580 15260 9,520 Conversion Costs Beginning Balance New DM New Conversion Costs Ending Balance V $520 3.640 $4,160 13160 0 2100 15260
- Use this information about Carmelita Inc. to answer the question that follow. Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,700 $20,100 Conversion costs 6,300 159,400 At the beginning of the period, there were 500 units in process that were 43% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,200 units were started and completed. Ending inventory contained 300 units that were 29% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process cost method. Round cost per unit figures to the nearest cent when calculating total costs. The total costs transferred into Finished Goods for units started and completed were a.$167,752 b.$228,885 c.$119,104 d.$177,430Use this information about Carmelita Inc. to answer the question that follows. Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,900 $26,600 Conversion costs 6,900 142,800 At the beginning of the period, there were 400 units in process that were 43% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,000 units were started and completed. Ending inventory contained 300 units that were 32% complete as to conversion costs and 100% complete as to materiais costs. The company uses the FIFO cost flow method. The equivalent units of production for direct materials and conversion costs, respectively, were Oa. 5324 for direct materials and 5300 for conversion costs Ob. 5,300 for direct matenab and 5,124 for conversion costs Oc. 5,000 for ditect materials and 5,324 for conversion costs Od. 5,124 for direct materials nd 5324 for conversion costiPlease assist with steps in completing the questions numbered 1 and 2 requirements . Thank you! Foods of choice makes a single product using two processes. Quality control check takes place during the process, at which point, rejected units are separated from good units.The following details relate to production for the month of April 2015, for Process 2.(i) Work-in-process, beginning inventory: -0-(ii) Transfer from Process 1: 15,000 units valued at $51.40 each(iii) Other manufacturing costs incurred during April: Direct material added $513,000Direct labour $365,000Manufacturing overhead $211,000(iv) Normal losses were estimated to be 5% of input during the period. Losses from Process 2 are deemed to be scrap, and sold at $40 per unit. (v) At inspection 1,750 units were rejected as scrap. These units had reached the following degree of completion:Input material--100%Direct material added--50%Conversion costs--30%(vi) 12,000 units were completed and transferred to Finished…
- (a) Blossom Paints makes various interior and exterior paints for its customers, but its current focus is on its top-selling interior brand. Blossom produces the paint in its mixing department and then transfers the paint to the canning department. The following information is presented for the canning department in March, recognizing that the company adds its conversion costs evenly throughout the process. One unit is one gallon of paint. Units Transferred-In DM Conversion Costs Units in beginning WIP Inventory 1,800 Beginning WIP Inventory degree of completion 100% 100% 60% Costs in beginning WIP Inventory $11,980 $1,940 $1,800 New units started 47,300 Costs added to WIP Inventory this period $383,130 $55,680 $104,258 Units completed 48,200 Units in ending WIP Inventory 900 Ending WIP Inventory degree of completion 100% 0% 30% Complete Steps 1-5 of the template for the canning department of Blossom Paints this year using the FIFO method of process costing, clearly labeling the…Patton Dyes manufactures colorings, primarily for textiles. Information on the work in process follows: Beginning Inventory, 140,000 partially complete liters. Ending inventory, 110,000 liters; units are 25 percent complete with respect to materials and 60 percent complete with respect to conversion costs. • Started this month, 695,000 liters. Assume that beginning inventory is 20 percent complete with respect to materials and 40 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. a. Materials b. Conversion costs Equivalent UnitsPlease assist with each step in order to complete and possible workings Thank you Kindly ! Foods of Choice makes a single product using two processes. Quality control check takes place during the process, at which point, rejected units are separated from good units. The following details relate to production for the month of April 2015, for Process 2.(i) Work-in-process, beginning inventory: -0-(ii) Transfer from Process 1: 15,000 units valued at $51.40 each(iii) Other manufacturing costs incurred during April:-Direct material added $513,000-Direct labour $365,000-Manufacturing overhead $211,000(iv) Normal losses were estimated to be 5% of input during the period. Losses from Process 2 are deemed to be scrap, and sold at $40 per unit. (v) At inspection 1,750 units were rejected as scrap. These units had reached the following degree of completion:-Input material 100%-Direct material added 50%-Conversion costs 30%(vi) 12,000 units were completed and transferred to Finished Goods…
- McGown Corp has the following information: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Raw materials purchases Direct labor Manufacturing overhead applied Indirect materials. Beginning Ending Inventory Inventory (1/1) (12/31) $28,200 $30,900 $16,800 $ 23, 100 $30,300 $ 27,900 Multiple Choice Compute the direct materials used in production. $110,600 $30.900 $107, 900 $ 84,300 $ 85,100 $ 0 Prex! Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,500 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion Units 2,500 10,500 9,500 3,500 Percent Complete for Direct Materials 60% $ 1,427 510 12,488 15,840 90% Percent Complete for Conversion 40% $ 1,937 28,328 40% QS 3-16A (Algo) FIFO: Assigning costs to output LO C2 Assign costs to the Assembly department's output-specifically, the units transferred out to the Painting department…Use the information below for a soda maker to answer the requirements. Current Year Prior Year Work in process at year-end. $ 81,000 $ 94,000 Cost of goods sold for the year. 1,967,000 1,800,000 1. Compute days’ sales in work in process inventory for the current year. Round to the nearest day. 2. Compute days’ sales in work in process inventory for the prior year. Round to the nearest day. 3. Did days’ sales in work in process inventory increase or decrease from the prior year?