Question

Badgersize Company has the following information for its Forming Department for the month of August. Work...

Badgersize Company has the following information for its Forming Department for the month of August. Work in Process Inventory, August 1: 20,000 units Direct materials: 100% complete $ 80,000 Conversion: 20% complete 24,000 Balance in work in process, August 1 $ 104,000 Units started during August 48,000 Units completed and transferred in August 59,000 Work in process (70% complete), August 31 ? Costs charged to Work in Process in August Direct materials $ 141,000 Conversion costs: Direct labor $ 107,000 Overhead applied 139,000 Total conversion $ 246,000 Assume materials are added at the start of processing.

Required:

a. Calculate the equivalent units for the Forming Department for the month of August.

b. Find the cost per equivalent unit of input resource. (Round your answers to 2 decimal places.)

Homework Answers

Answer #1

FIFO Method of WIP Inventory Valuation is followed

(a)

(b)

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following information is available for Department C for the month of August: Units Cost Work...
The following information is available for Department C for the month of August: Units Cost Work in process, August 1 (70% complete) 10,000 Direct materials $36,000 Direct labor 18,000 Manufacturing overhead 24,000 Total work in process, August 1 $78,000 Started in production during August 40,000 Costs added: Direct materials $108,000 Direct labor 48,000 Manufacturing overhead 61,040 Total costs added during August $217,040 Work in process, August 31 (80% complete)   4,000 Units completed and transferred out 42,000 Materials are added at...
At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in...
At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in inventory, 30% complete as to materials, and 10% complete as to conversion. During the month the department started 60,000 units and transferred 62,000 units to the next manufacturing department. At the end of the month, the department had 8,000 units in inventory, 80% complete as to materials and 60% complete as to conversion. If Martin Manufacturing uses the weighted average method of process costing,...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method...
The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59,200 of direct materials costs and $24,900 of conversion costs. During the month, the forming department started 540,000 units. At the end of the month, the forming...
The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with...
The debits to Work in Process—Roasting Department for Morning Brew Coffee Company for August, together with information concerning production, are as follows: Work in process, August 1, 500 pounds, 40% completed $2,370* *Direct materials (500 X $4.1) $2,050 Conversion (500 X 40% X $1.6) $320 $2,370 Coffee beans added during August, 16,000 pounds 64,800 Conversion costs during August 26,758 Work in process, August 31, 800 pounds, 30% completed ? Goods finished during August, 15,700 pounds ? All direct materials are...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 34,500 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $79,100 consisted of $56,200 of direct materials costs and $22,900 of conversion costs. During the month, the forming department started 490,000 units. At the end of the month, the forming department...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of...
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average method of process costing. At the beginning of the month, the forming department has 30,000 units in inventory, 60% complete as to materials and 40% complete as to conversion costs. The beginning inventory cost of $70,100 consisted of $50,800 of direct materials costs and $19,300 of conversion costs. During the month, the forming department started 400,000 units. At the end of the month, the forming department...
James Company uses process costing to track its costs in two sequential production departments: Forming and...
James Company uses process costing to track its costs in two sequential production departments: Forming and Finishing. The following information is provided regarding the Forming Department: Forming Department Month Ended July 31 Unit information Beginning work in process, July 1 --- 6,000 Started into production during July --- 18,000 Completed and transferred to Finished Department during July --- 16,000 Ending work in process, July 31 (30% complete as to direct materials and 40% complete as to conversion costs) --- 8,000...
Magic Company adds materials at the beginning of the process in Department A. The following information...
Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1 (60% complete with respect to conversion) 17,600 Started in August 120,900 Completed 120,900 Work in process, August 31 (78% complete with respect to conversion) 17,600 Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. b. Compute the equivalent...
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are...
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 6,000 units, 70% completed 15,540 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.4 197,400 Direct labor 181,600 Factory overhead 70,580 Bal. ? units, 70% completed ? Determine the following: a. The number of units in work in process inventory at the...
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are...
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 6,000 units, 25% completed 14,850 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.60 225,600 Direct labor 391,900 Factory overhead 152,450 Bal. ? units, 75% completed ? Determine the following: a. The number of units in work in process inventory at the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT