Managerial Accounting
7th Edition
ISBN: 9781260247886
Author: Wild
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 3, Problem 4QS
Physical flow reconciliation C2
The following refers to units processed in sunflower Printing binding department in March. Prepare physical flow reconciliation.
| Units of Product | Percent of Conversion Added | |
| Beginning work in process…………………….. |
Goods started ………………………………….
Goods Completed………………………………
Ending work in process…………………………
310,000
340,000
120,000
100
100
25
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Prepare a physical unit flow reconciliation with the following information.
Units of
Product
150,000
310,000
340,000
120,000
Blending Process
Beginning work in process inventory
Units started this period
Units completed and transferred out
Ending work in process inventory
Units to account for:
Physical unit flow reconciliation
Units accounted for:
Compute the conversion cost per equivalent unit for the Production department using the weighted-average method.
Beginning work in process inventory
Units started and completed
Units completed and transferred out
Ending work in process inventory
Production cost information for the Production department follows.
Beginning work in process
Conversion
costs added this period
Conversion
Multiple Choice
O $172
O $5.60.
$0.94
$5.02
Direct Materials
Units Percent Complete Percent Complete
10,000
76,000
86,000
15,000
$ 52,100
450, 500
100%
100%
Conversion
< Prev
30%
25%
12 of 25
Next
Part A 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. \table [[Beginning
,,], [Quarter, \table [[Work in], [Process]], Started, Out, (%)],[1,, 255, 000, 235,50], [2, 2, 500, 275, 000, 250, 40], [3, 3, 600, 290, 000, 275,000, 45], [4, 6, 500, 300,000, 280, 000,60]]
Chapter 3 Solutions
Managerial Accounting
Ch. 3 - Prob. 1MCQCh. 3 - Prob. 2MCQCh. 3 - Prob. 3MCQCh. 3 - 4. A company’s beginning work in process in...Ch. 3 - Prob. 5MCQCh. 3 - What is the main factor for a company in closing...Ch. 3 - Prob. 2DQCh. 3 - Prob. 3DQCh. 3 - Prob. 4DQCh. 3 - Prob. 5DQ
Ch. 3 - Prob. 6DQCh. 3 - Prob. 7DQCh. 3 - Prob. 8DQCh. 3 - Direct labor costs Flow through what accounts in a...Ch. 3 - Prob. 10DQCh. 3 - Prob. 11DQCh. 3 - Prob. 12DQCh. 3 - 13. List the four steps in accounting for...Ch. 3 -
14. APPLE Companies such as Apple commonly...Ch. 3 - 15. GOOGLE Are there situations where Google can...Ch. 3 - Prob. 16DQCh. 3 - Prob. 17DQCh. 3 - Prob. 18DQCh. 3 - Prob. 19DQCh. 3 - Process vs. job order operations C1 For each of...Ch. 3 - Prob. 2QSCh. 3 - Prob. 3QSCh. 3 - Physical flow reconciliation C2 The following...Ch. 3 - Prob. 5QSCh. 3 - Prob. 6QSCh. 3 - Prob. 7QSCh. 3 - Prob. 8QSCh. 3 - Prob. 9QSCh. 3 - Prob. 10QSCh. 3 - Prob. 11QSCh. 3 - Prob. 12QSCh. 3 - Prob. 13QSCh. 3 - Prob. 14QSCh. 3 - Prob. 15QSCh. 3 - Prob. 16QSCh. 3 - Prob. 17QSCh. 3 - Prob. 18QSCh. 3 - Prob. 19QSCh. 3 - Prob. 20QSCh. 3 - Prob. 21QSCh. 3 - Prob. 22QSCh. 3 - Prob. 23QSCh. 3 - Prob. 24QSCh. 3 - Prob. 25QSCh. 3 - Prob. 26QSCh. 3 - Prob. 1ECh. 3 - Prob. 2ECh. 3 - Prob. 3ECh. 3 - Prob. 4ECh. 3 - Prob. 5ECh. 3 - Prob. 6ECh. 3 - Prob. 7ECh. 3 - Prob. 8ECh. 3 - Prob. 9ECh. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Exercise 16-13AFIFO: Completing a process cost...Ch. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Exercise 16-16 Weighted average: Process cost...Ch. 3 - Prob. 17ECh. 3 - Prob. 18ECh. 3 - Prob. 19ECh. 3 - Prob. 20ECh. 3 - Prob. 21ECh. 3 - Prob. 22ECh. 3 - Prob. 23ECh. 3 - Prob. 24ECh. 3 - Prob. 25ECh. 3 - Prob. 26ECh. 3 - Prob. 1PSACh. 3 - Prob. 2PSACh. 3 - Prob. 3PSACh. 3 - Prob. 4PSACh. 3 -
Problem 16-5AA FIFO: Process cost summary;...Ch. 3 - Prob. 6PSACh. 3 - Prob. 7PSACh. 3 - Prob. 1PSBCh. 3 - Prob. 2PSBCh. 3 - Prob. 3PSBCh. 3 - Problem 16-4B Weighted average: Process cost...Ch. 3 - Problem 16-5BA FIFO: Process cost summary;...Ch. 3 - Prob. 6PSBCh. 3 - Prob. 7PSBCh. 3 - Prob. 3SPCh. 3 - Prob. 3CPCh. 3 - Prob. 1GLPCh. 3 - Prob. 1AACh. 3 - Prob. 2AACh. 3 - Prob. 3AACh. 3 - Prob. 1BTNCh. 3 - Prob. 2BTNCh. 3 - Prob. 3BTNCh. 3 - Prob. 4BTNCh. 3 - Prob. 5BTNCh. 3 - Prob. 6BTN
Knowledge Booster
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
- End. Work in Process Inv. % Complete as to Beg. Work Units Completed in Process Month Inv. and Transferred Out Units Conversion Cost March 2,820 39,480 11,280 75% Compute equivalent units of production for March for both materials and conversion costs using the weighted-average method of process costing. Materials are entered at the beginning of the process. Quantities Units to be accounted for Work in process inventory, 3/1 Started into production Total units to be accounted for Equivalent Units of Production Physical Units Materials Conversion Costsarrow_forwardCompute the number of equivalent units with respect to both direct materials and conversion for March using the weighted- average method Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Units 27,500 115,000 142,500 32,500 Direct Materials Percent Complete 100% 70% Conversion Percent Complete 55% 60% multiple choice: 1) 162,000 direct materials; 162,000 conversion 2) 142,500 dm; 124,750 conv 3) 152,250 dm; 155,500 conv 4) 165,250 dm; 166,250 conv 5) 165,250 dm; 162,000 convarrow_forwardAssume the following Information: Milling Department Beginning work in process inventory Units started into production during March Units completed during the period and transferred to the next department Ending work in process inventory Milling Department Cost of beginning work in process inventory Costs added during the period Total cost Multiple Choice O 5,980 units 6,040 units Using the weighted-average method, what is the equivalent units of production for conversion? 6,220 units Units 6,160 units 200 6,200 5,800 600 Percent Complete Materials 40% 100% 70% Materials $ 10,000 290,000 $ 300,000 Conversion 30% 100% 60% Conversion $ 15,000 385,000 $ 400,000arrow_forward
- Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units of production for direct materials and conversion costs. 3. Compute unit cost. Round to three decimal places. 4. Calculate the cost of goods transferred to Painting at the end of the month. Calculate the cost of ending inventory.arrow_forwardProduction information shows these costs and units for the smoothing department in August. All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month?arrow_forwardBeginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Production cost Information for the forming department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Required A Required B Required C Units 33,500 470,000 468,500 35,000 Completed and transferred out Ending work in process $ 55,000 22,100 Units 1,745,000 1,154,020 Complete this question by entering your answers in the tabs below. EUParrow_forward
- Problem Compute for the equivalent units of production in each of the following cases: Case A In process, Sept. 1 Placed in process In process, Sept. 30 Case B Stage of completion Stage of completion In process, Oct 1 Case C Stage of completion Transferred to Dept Y In process, Oct. 31 Stage of completion In process, Nov. 1 Stage of completion Transferred to stockroom Placed in process In process, Nov. 30 Stage of completion Department 1 8,000 units 14 50,000 units 6,000 units 1/5 Department X 3,000 units 1/3 26,000 units 4,000 1/5 Department A ? 1/5 35,000 units 12,000 units 1/3 Department 2 5,000 units 1/10 12,000 units 1/6 Department Y 2,000 units 1/5 7,000 2/7 Department B 8,000 units 1/8 38,000 units 3,200 units 1/10arrow_forwardCompute the number of equivalent units with respect to conversion using the weighted-average method. Direct Materials Conversion Percent Units Percent Complete Complete Beginning work in process inventory Units started and completed 35,000 100% 55% 110,000 Units completed and transferred out Ending work in process inventory 145,000 40,000 100% 30%arrow_forwardplease answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Required information Skip to question [The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April. Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 60,000 60% 40% Units started this period 322,000 Completed and transferred out 300,000 Ending work in process inventory 82,000 80% 30% The production department had the cost information below. Beginning work in process inventory Direct materials $ 118,472 Conversion 48,594 $ 167,066 Costs added this period Direct materials 850,368 Conversion 649,296 1,499,664 Total costs to account for $ 1,666,730 (a) Calculate the costs per…arrow_forward
- Beginning work in process inventory Units started this period Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Units 30,000 390,000 380,000 40,000 Required A Required B Required C $50,200 18,900 Completed and transferred out Ending work in process 1,507,160 1,031,660 Units 380,000 40,000 Complete this question by entering your answers in the tabs below. Direct Materials Exercise 16-6 (Algo) Weighted average: Cost per EUP and costs assigned to output LO P1 Percent Complete 80% a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department c. Using the weighted average method, assign costs to the forming…arrow_forwardData Section: Work in process, beginning Units started during the month Work in process, ending Costs to account for. Beginning work in process Materials added Conversion costs incurred Total costs to be accounted for Beg. Work in process Started & Completed Ending Work in process Total Whole Units $ $ $ S Units 50,000 220,000 30,000 Total 100,000 176,000 597,600 873,600 Direct Mat. % Added During the Month Cost per equivalent unit Percent Conversion 30% 80% Direct Mat. Equiv. Units Direct Mat. Conversion% Added During the Month HINT: To find started and completed: Completed units - beginning inventory Started during the month - ending inventory Conversion Equiv. Units Conversion Beginning Inventory Cost assignment Direct Materials Conversion Total Amount reported on the balance sheet as Finished goods inventory Work in Process inventoryarrow_forwardComputing units in process, units completed, and equivalent production Using the following data, determine which figures should be inserted in the blank spaces. Beginning Units in Process Units Started in Production Finished Goods Units Ending Units in Process Transferred to Equivalent Units а. 600 8,000 8,600 b. 900 6,500 400–1/2 completed | 1,500 12,900 1,200–1/4 completed C. d. 7,250 7,200 150–1/2 completed 8,400 8,200 200–1/2 completed e. f. 400 6,200 6,200 6,300 -arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser...
Accounting
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Cengage Learning
Cost Accounting - Definition, Purpose, Types, How it Works?; Author: WallStreetMojo;https://www.youtube.com/watch?v=AwrwUf8vYEY;License: Standard YouTube License, CC-BY