Otsego Glass Company manufactures window glass for automobiles. The following data pertain to the Plate Glass Department. Work in process, June 1 Direct material Conversion- Costs incurred during June Direct material Conversion $ 31,090 49,000 The equivalent units of activity for June were as follows: 17,300 equivalent units of direct material and 57,000 equivalent units of conversion activity. Direct material Conversion $ 112,500 236,000 Required: Calculate the cost per equivalent unit, for both direct material and conversion, during June. Use weighted-average process costing. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit

Otsego Glass Company manufactures window glass for automobiles. The following data pertain to the Plate Glass Department. Work in process, June 1 Direct material Conversion- Costs incurred during June Direct material Conversion $ 31,090 49,000 The equivalent units of activity for June were as follows: 17,300 equivalent units of direct material and 57,000 equivalent units of conversion activity. Direct material Conversion $ 112,500 236,000 Required: Calculate the cost per equivalent unit, for both direct material and conversion, during June. Use weighted-average process costing. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit

Name: 3Otsego Glass Company manufactures window glass for automobiles. The
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Description: 3Otsego Glass Company manufactures window glass for automobiles. The following data pertain to the Plate Glass Department.Work in process, June 1Direct materialConversionCosts incurred during JuneDirect materialConversion$ 31,09049,000The equivalent

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 20E: Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through...

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The records of Burris Inc. reflect the following data: Work in process, beginning of month2,000 units one-half completed at a cost of 1,250 for materials, 675 for labor, and 950 for overhead. Production costs for the monthmaterials, 99,150; labor, 54,925; factory overhead, 75,050. Units completed and transferred to stock38,500. Work in process, end of month3,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost.
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials. Work in process, January 1 77,000 Materials inventory, January 1 31,000 Materials purchases 35,000 Materials inventory, December 31 26,000 Direct labor 48,000 Overhead 20,000 Work in process, December 31 62,000
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: Costs assigned to beginning work in process: direct materials, 90,000; conversion costs, 33,750. Manufacturing costs incurred during April: direct materials, 75,000; conversion costs, 220,000. Holmes uses the weighted average method. Required: 1. Compute the unit cost for April. 2. Determine the cost of ending work in process and the cost of goods transferred out.
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.
Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion 450,450 $ 19,350 2,520 $ 21,870 246,330 696,780 Total costs to account for $ 718,650 Direct Materials Conversion Percent Percent Units Complete Beginning work in process inventory 2,000 100% Complete 20% Units started this period 38,500 Completed and transferred out 38,000 Ending work in process inventory 2,500 100% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. Unit Reconciliation Units to account for Total units to account for Units accounted for
Cost data for Johnstone Manufacturing Company for th month ended March 31 are as follows: Inventories Materials Work in process Finished goods March 1 $199,500 131,670 101,750 Direct labor Materials purchased during March Factory overhead incurred during March: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Direct materials: March 31 Factory overhead: $173,570 114,560 118,030 $359,100 383,040 a. Prepare a cost of goods manufactured statement fo March. Cost of goods manufactured Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 38,300 23,140 Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs 7,980 6,380 5,590 10,370 00 $ $ b. Determine the cost of goods sold for March.
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 11, 200 $ 55,700 $ 33,700 Ending $ 19,900 $ 65,800 $ 42,800 $ 31,000 $ 4,940 $ 59,300 $ 87,600 $ 4,080 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $ 31,000 $ 4,530 Indirect materials used in production Direct labor $ 59,300 $ 88,900 $4,200 Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,500 $ 55,700 $ 34,700 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Ending $ 18,800 $ 69,000 $ 42,100 Prepare a schedule of cost of goods manufactured for the month. Beginning work in process inventory Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Add: Purchases of raw materials Total raw materials available X Answer is not complete. Less:…
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.Work in Process—Assembly DepartmentBal., 3,000 units, 55% completed10,410To Finished Goods, 69,000 units?Direct materials, 71,000 units @ $1.6113,600Direct labor189,400Factory overhead73,670Bal., ? units, 75% completed?Cost per equivalent units of $1.60 for Direct Materials and $3.70 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places.1. Cost of beginning work in process inventory completed this period$2. Cost of units transferred to finished goods during the period$3. Cost of ending work in process inventory$4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.)$
Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Work in process Finished goods Additional information: Raw materials purchases Direct labor cost Beginning Ending $45,000 $39,000 $25,000 $35,000 $41,000 $56,000 $75,000 $100,000 $68,000 Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The direct materials cost for July is: $11,600 $67,000
Uhtred Manufacturing had the following transactions in October: 1. Purchased raw materials on account, $57,100. 2. Used materials in production: $18,500 in the Mixing Department; $5,100 in the packaging Department; $800 in indirect materials. 3. Incurred labor costs: $9,000 in the Mixing Department; $3,960 in the Packaging Department; $2,140 in indirect labor. 4. Incurred manufacturing overhead costs: $8,850 in machinery depreciation; paid $3,750 for rent and paid for utilities at a cost of $1,690. Prepare the journal entries for Uhtred Manufacturing. Date 1 2 3 4 Description O O O O O O O C O Debit Credit 000 I
Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 31,450 3,900 Units 470,050 263, 250 3,000 39,500 39,000 3,500 $ 35,350 733,300 $768,650 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 20% 60% Prepare the Molding department's production cost report using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places.