Question
Elliott Company produces large quantities of a standardized product. The following information is available for the...
Elliott Company produces large quantities of a standardized
product. The following information is available for the first
process in its production activities for March.
| Units | Costs | ||||||||
| Beginning work in process inventory | 4,000 | Beginning work in process inventory | |||||||
| Started | 40,000 | Direct materials | $ | 5,080 | |||||
| Ending work in process inventory | 8,000 | Conversion | 16,320 | ||||||
| $ | 21,400 | ||||||||
| Status of ending work in process inventory | Direct materials added | 272,120 | |||||||
| Materials—Percent complete | 100 | % | Direct labor added | 253,160 | |||||
| Conversion—Percent complete | 35 | % | Overhead applied (140% of direct labor) | 354,424 | |||||
| Total costs to account for | $ | 901,104 | |||||||
| Ending work in process inventory | $ | 95,424 | |||||||
Prepare a process cost summary report for this process using the
weighted-average method. (Round "Cost per EUP" to 2 decimal
places.
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
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...
Refer to the following information about the Finishing Department in the Davidson Factory for the month...
Refer to the following information about the Finishing
Department in the Davidson Factory for the month of June. Davids on
Factory uses the weighted -average method of inventory costing.
Beginning Work in Process inventory: Physical units
.......................................................................
5,000 units % complete for materials
..................................................... 70% %
complete for labor and overhead
..................................... 25% Materials co st from May
...................................................... $7,350 Labor
and overhead cost from May ......................................
$3,125 Product started and completed: Physical units
.......................................................................
40,000 units Ending Work in...
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average process...
Required information
[The following information applies to the questions
displayed below.]
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 790,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 180,000 units that are 70%
complete with respect to conversion. Beginning inventory had
$252,200 of...
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted-average process...
Required information [The following information applies to the
questions displayed below.] Victory Company uses weighted-average
process costing to account for its production costs. Conversion
cost is added evenly throughout the process. Direct materials are
added at the beginning of the process. During November, the company
transferred 700,000 units of product to finished goods. At the end
of November, the work in process inventory consists of 180,000
units that are 30% complete with respect to conversion. Beginning
inventory had $420,000 of...
The production department in a process manufacturing system completed 82,000 units of product and transferred them...
The production department in a process manufacturing system
completed 82,000 units of product and transferred them to finished
goods during a recent period. Of these units, 24,600 were in
process at the beginning of the period. The other 57,400 units were
started and completed during the period. At period-end, 16,100
units were in process.
Prepare the department’s equivalent units of production with
respect to direct materials under each of the three separate
assumptions using the FIFO method for process costing....
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 755,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 199,000 units that are 50%
complete with respect to conversion. Beginning inventory had
$558,090 of direct materials and $128,175 of conversion cost. The
direct material cost...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 810,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 197,000 units that are 90%
complete with respect to conversion. Beginning inventory had
$392,730 of direct materials and $123,413 of conversion cost. The
direct material cost...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average process costing to account
for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 755,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 199,000 units that are 50%
complete with respect to conversion. Beginning inventory had
$558,090 of direct materials and $128,175 of conversion cost. The
direct material cost...
[The following information applies to the questions displayed below.] Li Company produces large quantities of a...
[The following information applies to the questions
displayed below.]
Li Company
produces large quantities of a standardized product. The following
information is available for its production activities for
January.
Raw materials
Factory overhead incurred
Beginning inventory
$
18,000
Indirect materials used
$
77,500
Raw
materials purchased (on credit)
285,000
Indirect labor used
40,000
Direct materials used
(171,500
)
Other overhead costs
162,360
Indirect materials used
(77,500
)
Total factory overhead incurred
$
279,860
Ending Inventory
$...
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...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 27 minutes ago
asked 32 minutes ago
asked 34 minutes ago
asked 55 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago