The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials areadded at the beginning of the process):Beginning work in process (40,000 units):Percentage complete with respect toCostsEnding work in process (56,000 units):Percentage complete with respect toCostsAnswer is complete but not entirely correct.DirectMaterialsCost per equivalent unitMaterials Conversion3.05Conversion100%$ 90,6004.5822100%The Remington Plant started 230,000 units and transferred out 214,000 in July. Materials costs incurred in July were $734,000 andconversion costs were $1,119,000.Required:Compute the cost per equivalent unit for materials and conversion costs using the weighted-average method.Note: Round your answers to 2 decimal places.20%$ 25,6367760%

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Description: The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials areadded at the beginning of the process):Beginning work in process (40,000 units):Percentage complete with respect to

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The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (40.000 unita Materials Conversion

The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (40.000 unita Materials Conversion

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 11E: The charges to Work in ProcessAssembly Department for a period, together with information concerning...

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Given the following information, determine the equivalent units of ending work in process for materials and conversion under the weighted-average method: beginning inventory of 2,500 units is 100% complete with regard to materials and 60% complete with regard to conversion 18,000 units were started during the period 17,500 units were completed and transferred ending inventory is 100% complete with materials and 65% complete with conversion
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
The charges to Work in ProcessAssembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Determine the following: a. The number of units in work in process inventory at the end of the period b. Equivalent units of production for direct materials and conversion c. Costs per equivalent unit for direct materials and conversion d. Cost of the units started and completed during the period
Given the following information, determine the equivalent units of ending work in process for materials and conversion using the weighted-average method: Beginning inventory of 750 units is 100% complete with regard to materials and 30% complete with regard to conversion. 9,500 units were started during the period. 8,900 units were completed and transferred. Ending inventory is 100% complete with regard to materials and 68% complete with regard to conversion.
Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.
Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units. The beginning work in process inventory consisted of $5,000 in materials and $8,500 in conversion costs before $16,000 of materials and $18,500 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.
There were 1,700 units in beginning inventory that were 40% complete with regard to conversion. During the month, 8,550 units were started and 9,000 were transferred to finished goods. The ending work in process was 60% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method?
The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.
Production data show 15,200 units were transferred out of a stage of production and 3,500 units remained in ending WIP inventory that was 100% complete to material and 60% complete to conversion. The unit material cost is $9 for material and $4 for conversion. What is the amount of inventory transferred out and remaining in ending work in process inventory?
The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (45,000 units): Percentage complete with respect to Costs Ending work in process (61,000 units): Percentage complete with respect to Costs Cost per equivalent unit Materials Conversion Direct Materials 100% $ 93,100 Conversion ?? 100% 20% $ 28,136 ?? The Remington Plant started 235,000 units and transferred out 219,000 in July. Materials costs incurred in July were $784,000 and conversion costs were $1,169,000. Required: Compute the cost per equivalent unit for materials and conversion costs using the weighted-average method. Note: Round your answers to 2 decimal places. 60%
[The following information applies to the questions displayed below] The first production department of Stone Incorporated reports the following for April Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Conversion Costs added this period Direct materials Conversion Total costs to account for The production department had the cost information below. Beginning work in process inventory Direct materials Units 62,000 332,000 Total costs -Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Required b. Cost assignment-Weighted average 310,000 84,000 Weighted average: Cost per equivalent unit; costs assigned to output and inventory Completed and transferred out Direct materials Conversion Total costs completed and transferred out Ending work in process Direct materials Required a Cost per equivalent unit of production: Weighted average method Conversion Total cost of ending…