Case Study: Cost Accounting
company uses a process cost accounting system. Its Assembly Department's beginning inventory consisted of 50,000 units, 3/4 complete with respect to direct labor and overhead. The department started and finished 127,500 units this period. The ending inventory consists of 40,000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $24,000 and overhead costs of $32,000 for the period. Assuming the weighted average method, the direct labor cost per equivalent unit (rounded to the nearest cent) is: a. $0.14. b. $0.16. c. $0.17. d. $0.30. e. $0.37.
The following data are available for a company's manufacturing activities: …show more content…
The units in ending goods in process inventory were 50% complete with respect to both direct materials and conversion costs. There were 1,000 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method. a. 10,000 units. b. 10,300 units. c. 15,000 units. d. 15,300 units. e. 10,700 units.
A company's beginning work in process inventory consisted of 20,000 units that were 1/5 complete with respect to direct labor. These beginning units were completed and another 90,000 units were started during the current period. Of those started, 60,000 were finished and the remaining 30,000 were 1/3 complete at the end of the period. Using the weighted-average method, the equivalent units of production with regard to direct labor were: a. 60,000. b. 74,000. c. 76,000. d. 90,000. e. 96,000.
Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year: Beginning Inventory of goods in process (40% complete, $1,100): 200 units Ending inventory of goods in process (80% Complete): 400 units Total units started during the year: 3200 units The number of units
The following data are available for a company's manufacturing activities: …show more content…
The units in ending goods in process inventory were 50% complete with respect to both direct materials and conversion costs. There were 1,000 units in beginning goods in process inventory, and they were 70% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method. a. 10,000 units. b. 10,300 units. c. 15,000 units. d. 15,300 units. e. 10,700 units.
A company's beginning work in process inventory consisted of 20,000 units that were 1/5 complete with respect to direct labor. These beginning units were completed and another 90,000 units were started during the current period. Of those started, 60,000 were finished and the remaining 30,000 were 1/3 complete at the end of the period. Using the weighted-average method, the equivalent units of production with regard to direct labor were: a. 60,000. b. 74,000. c. 76,000. d. 90,000. e. 96,000.
Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year: Beginning Inventory of goods in process (40% complete, $1,100): 200 units Ending inventory of goods in process (80% Complete): 400 units Total units started during the year: 3200 units The number of units