Question

4) At the start of June, the Polishing Department of John's Counters, Inc. had 15,000 units...

4) At the start of June, the Polishing Department of John's Counters, Inc. had 15,000 units in beginning inventory that were 100% complete with respect to direct materials and conversion costs. During the month, it received 25,000 units from the Machining Department. It started and completed 17,000 units and transferred 32,000 units to the Packaging Department. It had 8,000 units in ending Work-in-Process Inventory. Direct materials are added at the beginning of the process. Units in beginning Work-in-Process Inventory were 50% complete in respect to conversion costs. Units in ending Work-in-Process Inventory were 40% complete with respect to conversion costs.

Please complete the below production cost report for the Polishing Department for the equivalent units of production for the month of June. Use the FIFO method.

Answer:

                                                         John's Counters, Inc.

   Production Cost Report—Polishing Department—FIFO Method—Whole Units

                                                          Month Ended June 30

                                                                                                Equivalent Units for Current Period

                                                              Whole        Trans-               Direct                     Conversion

                                                                Units    ferred In         Materials                     Costs

Units to account for:

Beginning WIP                                          X

Started in production                              X

Total units to account for                      X

Units accounted for:

Beginning WIP                                          X              X                                 X                             X

Started and completed                           X               X                                  X                             X

Transferred to Packaging Dept           X              X                                  X                            X

Ending WIP                                                X               X                                  X                             X

Total units accounted for                       X               X                               X                            X

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The Polishing Department of Funtastic Company has the following production and manufacturing cost data for September....
The Polishing Department of Funtastic Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 2,000 units that are 100% complete as to materials and 40% complete as to conversion costs; units started during the period are 48,000, ending inventory of 6,000 units 30% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $18,000 of materials and $13,000 of conversion costs; materials costs added...
The Polishing Department of Major Company has the following production and manufacturing cost data for September....
The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,860 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,100; ending inventory of 5,800 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,800 of materials and $41,608 of conversion costs; materials costs added...
The Polishing Department of Coronado Company has the following production and manufacturing cost data for September....
The Polishing Department of Coronado Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,520 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 46,300; ending inventory of 6,800 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,500 of materials and $34,645 of conversion costs; materials costs added...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct materials are added at the beginning of the process. This department has the following data for this month. 217 units in beginning WIP (73% complete with respect to conversion costs). 11,662 units started 154 units in ending WIP (70% complete with respect to conversion costs). $23 direct material cost per equivalent unit $14 conversion cost per equivalent unit $1,321 beginning WIP direct materials costs $3,324 beginning WIP conversion costs...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct materials are added at the beginning of the process. This department has the following data for this month. 214 units in beginning WIP (73% complete with respect to conversion costs). 8,477 units started 119 units in ending WIP (67% complete with respect to conversion costs). $2,087 beginning WIP direct materials costs $1,702 beginning WIP conversion costs $112,915 current month direct materials costs $92,268 current month conversion costs What is...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Units to account for:...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Units to account for:...
During April, the production department of a process manufacturing system completed a number of units of...
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 66,000 were in process in the production department at the beginning of April and 264,000 were started and completed in April. April's beginning inventory units were 65% complete with respect to materials and 35% complete with respect to conversion. At the end of April, 88,000 additional units were in process in the...
The Polishing Department of Major Company has the following production and manufacturing cost data for September....
The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,600 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,600; ending inventory of 5,400 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,500 of materials and $61,330 of conversion costs; materials costs added...
Equivalent Units of Production The Converting Department of Worley Company had 2,400 units in work in...
Equivalent Units of Production The Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% complete. During the period, 10,800 units were completed and transferred to the Packing Department. There were 1,900 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT