Department A had 4,300 units in Work in Process that were 78% completed at the beginning of the period at a cost of $7,400. During the period, 35,200 unjts of direct materials were added at a cost of $80,960, and 37,100 units were completed. At the end of the period, 2,400 units were 25% completed. All materials are added at the beginning of the process. Direct labor was $25,100 and factory overhead was $5,600. The cost of the 2,400 units in process at the end of the period if the first-in, first-out method is used to cost inventories was

Department A had 4,300 units in Work in Process that were 78% completed at the beginning of the period at a cost of $7,400. During the period, 35,200 unjts of direct materials were added at a cost of $80,960, and 37,100 units were completed. At the end of the period, 2,400 units were 25% completed. All materials are added at the beginning of the process. Direct labor was $25,100 and factory overhead was $5,600. The cost of the 2,400 units in process at the end of the period if the first-in, first-out method is used to cost inventories was

Name: Department A had 4,300 units in Work in Process that were 78% complet
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Description: Department A had 4,300 units in Work in Process that were 78% completed at the beginning of the period at a cost of $7,400.During the period, 35,200 units of direct materials were added at a cost of $80,960, and 37,100 units were completed, At the e

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 5E: The Converting Department of Worley Company had 2,400 units in work in process at the beginning of...

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Clearwater Candy Co. had a cost per equivalent pound for the month of 4.56 for materials, 1.75 for labor, and 1.00 for overhead. During the month, 10,250 lb were completed and transferred to finished goods. The 3,200 lb in ending work in process were 100% complete as to materials and 60% complete as to labor and overhead. At the beginning of the month, 1,500 lb were in process, 100% complete as to materials and 50% complete as to labor and overhead. The beginning inventory had a cost of 8,775. Clearwater uses FIFO costing. Required: 1. Calculate the cost of the pounds completed and transferred to finished goods. 2. Calculate the cost of the ending work in process.
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The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
Baxter Company has two processing departments: Assembly and Finishing. A predetermined overhead rate of 10 per DLH is used to assign overhead to production. The company experienced the following operating activity for April: a. Materials issued to Assembly, 24,000 b. Direct labor cost: Assembly, 500 hours at 9.20 per hour; Finishing, 400 hours at 8 per hour c. Overhead applied to production d. Goods transferred to Finishing, 32,500 e. Goods transferred to finished goods warehouse, 20,500 f. Actual overhead incurred, 10,000 Required: 1. Prepare the required journal entries for the preceding transactions. 2. Assuming Assembly and Finishing have no beginning work-in-process inventories, determine the cost of each departments ending work-in-process inventories.
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