Zillow chair company manufacturers a standard recliner. There were 15,000 chairs in the firm's Assembly Department on February 1st.. During February, the firm's Assembly Department started production of 73,000 chairs. During the month, the firm completed 78,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,000 chairs in ending inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 80% complete as to conversion costs. The FIFO method of process costing is used by Zillow. Cost data was as follows: Beginning inventory. Direct materials Conversion costs $24,000 $35,000 Manufacturing costs added during the accounting period. Direct materials $167,900 Conversion costs $277,915 Compute the cost of the units manufactured and transferred out in February? Example of Answer: 4000 (No comma, space, decimal point, or $ sign)

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...
icon
Related questions
icon
Concept explainers
Topic Video
Question

Please do not give solution in image format thanku 

Zillow chair company manufacturers a standard recliner. There were 15,000 chairs in
the firm's Assembly Department on February 1st.. During February, the firm's
Assembly Department started production of 73,000 chairs. During the month, the
firm completed 78,000 chairs, and transferred them to the Finishing Department.
The firm ended the month with 10,000 chairs in ending inventory.
All direct materials costs are added at the beginning of the production cycle and
conversion costs are added uniformly throughout the production process. Beginning
work in process was 30% complete as to conversion costs, while ending work in
process was 80% complete as to conversion costs. The FIFO method of process
costing is used by Zillow. Cost data was as follows:
Beginning inventory.
Direct materials
Conversion costs
$24,000
$35,000
Manufacturing costs added during the accounting period.
Direct materials
$167,900
Conversion costs
$277,915
Compute the cost of the units manufactured and transferred out in February?
Example of Answer: 4000 (No comma, space, decimal point, or $ sign)
Transcribed Image Text:Zillow chair company manufacturers a standard recliner. There were 15,000 chairs in the firm's Assembly Department on February 1st.. During February, the firm's Assembly Department started production of 73,000 chairs. During the month, the firm completed 78,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 10,000 chairs in ending inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 80% complete as to conversion costs. The FIFO method of process costing is used by Zillow. Cost data was as follows: Beginning inventory. Direct materials Conversion costs $24,000 $35,000 Manufacturing costs added during the accounting period. Direct materials $167,900 Conversion costs $277,915 Compute the cost of the units manufactured and transferred out in February? Example of Answer: 4000 (No comma, space, decimal point, or $ sign)
Expert Solution
steps

Step by step

Solved in 5 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,