Question

Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending...

Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process

The blending department had the following data for the month of March:

Units in BWIP —
Units completed 21,600
Units in EWIP (10% complete) 2,250
Total manufacturing costs $106,943

Required:

1. What is the output in equivalent units for March?
equivalent units

2. What is the unit manufacturing cost for March? Note: Round your answer to the nearest cent.
$per unit

3. Compute the cost of goods transferred out for March.
$

4. Calculate the value of March's EWIP.
$

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Solution:

1. What is the output in equivalent units for March?

Output in equivalent units for March = Units completed + Ending work in process

= 21,600 + 225

Output in equivalent units for March = 21,825 units.

.

2. What is the unit manufacturing cost for March?

Unit manufacturing cost for March = Total manufacturing costs / Equivalent units for March

= $106,943 / 21,825

Unit manufacturing cost for March = $4.90 per unit

.

3. Compute the cost of goods transferred out for March.

Cost of goods transferred out for March = Unit manufacturing cost  * Units completed

= $4.90 * 21,600

Cost of goods transferred out for March = $105,840

.

4. Calculate the value of March's EWIP.

Value of March's EWIP = Ending work in process * Unit manufacturing cost

= 225 * $4.90

Value of March's EWIP = $1,102.5

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
Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending...
Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending department had the following data for the month of March: Units in BWIP — Units completed 21,600 Units in EWIP (20% complete) 2,250 Total manufacturing costs $101,430 Required: 1. What is the output in equivalent units for March? equivalent units 2. What is the unit manufacturing cost for March? Note: Round your answer to the nearest cent. $per unit 3. Compute the cost of...
Weighted Average Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Holmes...
Weighted Average Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through three departments. For April, the following equivalent units schedule was prepared for the first department: Direct Materials Conversion Costs Units completed 25,000 25,000 Units, ending work in process ×   Percentage complete: 7,000 × 100% 7,000 — 7,000 × 50% — 3,500 Equivalent units of output 32,000 28,500 Costs assigned to beginning...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $1.05 and $1.30, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 1,900 Started and completed during the period 37,000 37,000 Transferred out of Filling (completed) 37,000 38,900 Inventory in process, end of period 3,000 1,200 Total...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $2.00 and $2.60, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 2,600 Started and completed during the period 43,000 43,000 Transferred out of Filling (completed) 43,000 45,600 Inventory in process, end of period 4,000 2,000 Total...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $2.70 and $1.15, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 2,000 Started and completed during the period 49,000 49,000 Transferred out of Filling (completed) 49,000 51,000 Inventory in process, end of period 6,000 3,000 Total...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $0.40 and $0.10, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 1,600 Started and completed during the period 42,000 42,000 Transferred out of Filling (completed) 42,000 43,600 Inventory in process, end of period 8,000 2,000 Total...
Unit Cost, Valuing Goods Transferred Out and EWIP During April, the grinding department of Tranx Inc....
Unit Cost, Valuing Goods Transferred Out and EWIP During April, the grinding department of Tranx Inc. completed and transferred out 312,000 units. At the end of April, there were 156,000 units in process, 60% complete. Tranx incurred manufacturing costs totaling $1,622,400. Required: 1. Calculate the unit cost.   $ _______________per unit 2. Calculate the cost of goods transferred out and the cost of ending WIP. Cost of goods transferred out $ Cost of ending WIP $   
Cost of Units Transferred Out and Ending Work in Process The The rate used to allocate...
Cost of Units Transferred Out and Ending Work in Process The The rate used to allocate costs between completed and partially completed production.costs per equivalent unit of direct materials and conversion in the Bottling Department of Rocky Springs Beverage Company are $1.8 and $0.45, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 2,300 Started and completed during the period 38,000 38,000 Transferred out of Bottling...
FIFO Method, Valuation of Goods Transferred Out and Ending Work in Process K-Briggs Company uses the...
FIFO Method, Valuation of Goods Transferred Out and Ending Work in Process K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the first processing department, the following equivalent units schedule has been prepared: Direct Materials Conversion Costs Units started and completed 28,000 28,000 Units, beginning work in process: 10,000 × 0% — — 10,000 × 40% — 4,000 Units, ending work in process: 6,000 × 100% 6,000 — 6,000 × 75% — 4,500 Equivalent...
irst-In, First-Out Method; Equivalent Units Aztec Inc. produces soft drinks. Mixing is the first department, and...
irst-In, First-Out Method; Equivalent Units Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 30,000 gallons Units completed and transferred out 195,000 gallons Units in process, July 31, 75% complete 12,000 gallons Costs: Work in process, July 1 $ 48,000 Costs added during July...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT