Exam 6: Systems Design: Process Costing

Ogden Company uses the weighted-average method in its process costing system.Information for the month of January concerning Department A,the first stage of the company's production process,follows: Materials are added at the beginning of the process.The ending work in process is 50% complete with respect to conversion costs.What cost would be recorded for the ending work-in-process inventory?

Using the weighted-average method,the total cost of the units in ending work-in-process inventory is closest to which of the following?

Larner Company uses the weighted-average method in its process costing system.Operating data for the first processing department for the month of June appear below: According to the company's records,the conversion cost in beginning work-in-process inventory was $68,064 at the beginning of June.Additional conversion costs of $585,324 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places. )

Harmon Company uses the weighted-average method in its process costing system.The Curing Department of Harmon Company reported the following information for the month of November: All materials are added at the beginning of the process. Required: Compute the following items for the company's monthly production report using the weighted-average method: a)The equivalent units (EUs)of production for materials. b)The cost per equivalent unit for conversion. c)The total cost assigned to units transferred out of the Curing Department during November. d)The cost assigned to work-in-process inventory as of November 30.

Production and cost data for the month of February for Process A of the Packer manufacturing Company follow: The company uses the weighted-average method in its process costing system. Required: a)Calculate the equivalent units and unit costs for February for materials and for conversion costs. b)Determine the cost transferred to finished goods. c)Determine the amount of cost that should be assigned to the ending work-in-process and finished goods inventories.

Using the weighted-average method,what are the equivalent units of production for material for the month?

(Appendix 6A)Marten Company uses the FIFO method in its process costing system.Operating data for the Casting Department for the month of September appear below: According to the company's records,the conversion cost in beginning work-in-process inventory was $83,600 at the beginning of September.Additional conversion costs of $427,682 were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for September on the Casting Department's production report? (Round off to three decimal places. )

Glo Co. ,a manufacturer of combs,uses the weighted-average method in its process costing system.The company sold 125,000 units during the month of April.There is only one processing department.The following additional information is provided: What were the equivalent units of production for conversion costs for April?

(Appendix 6A)The cost per equivalent unit for conversion costs will always be the same under both the FIFO and the weighted-average methods if there is no beginning work-in-process inventory.

What are the equivalent units of production for material for the month?

What are the equivalent units of production for labour and overhead for the month?

Fabian Company uses the weighted-average method in its process costing system.The Assembly Department started the month with 9,000 units in its beginning work-in-process inventory that were 70% complete with respect to conversion costs.During the month,an additional 90,000 units were transferred in from the prior department to begin processing in the Assembly Department.During the month,87,000 units were completed in the Assembly Department and transferred to the next processing department.There were 12,000 units in the ending work-in-process inventory of the Assembly Department that were 20% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?

Paxton Company uses the weighted-average method in its process costing system.The Moulding Department is the second department in its production process.The data below summarize the department's operations in January: The accounting records indicate that the conversion cost that had been assigned to beginning work-in-process inventory was $10,973,and a total of $268,107 in conversion costs were incurred in the department during January. What was the cost per equivalent unit for conversion costs for January in the Moulding Department? (Round off to three decimal places. )

The Nichols Company uses the weighted-average method in its process costing system.The company recorded 29,500 equivalent units of production for conversion costs for November in a particular department.There were 6,000 units in the ending work-in-process inventory on November 30,75% complete with respect to conversion costs.The November 1 work-in-process inventory consisted of 8,000 units,50% complete with respect to conversion costs.A total of 25,000 units were completed and transferred out of the department during the month.What was the number of units started during November in the department?

What total amount was debited to the Work-in-process inventory during the month of May?

Using the weighted-average method,what are the equivalent units of production for materials for March?

(Appendix 6A)Using the FIFO method,what are the equivalent units of production for conversion for March? Refer To: 06-05

The Hardy Company manufactures a product that goes through two departments prior to completion.The following information is available on work in one of these departments,the Moulding Department,during the month of July: The Moulding Department is the first department in the production process;after moulding has been completed,the units are transferred to the Finishing Department. Required: Assuming the company uses the weighted-average method,calculate the equivalent units for materials and conversion costs,rounded to the nearest tenth of a cent.

Trapp Company uses the weighted-average method in its process costing system.The beginning work-in-process inventory in its Painting Department consisted of 3,000 units that were 70% complete with respect to materials and 60% complete with respect to conversion costs.The cost of the beginning work-in-process inventory in the department was recorded as $10,000.During the period,9,000 units were completed and transferred on to the next department.The costs per equivalent unit for the period were $2.00 for material and $3.00 for conversion costs.What was the cost of units transferred out during the month?

(Appendix 6A)Herston Company uses the FIFO method in its process costing system.The beginning work-in-process inventory in a particular department consisted of 6,000 units,two-thirds complete with respect to conversion costs.During the month,42,000 units were started and 40,000 units were completed and transferred out of the department.The company had 40,000 equivalent units of production for conversion costs.Which of the following represents the ending work-in-process inventory in the department? (Do not round intermediate calculations. )