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PROCESS COST ACCOUNTING questions homework

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Question;BE 143;Tip Top Painting Company has the;following production data for January;? Beginning work in process;0 units;? Units transferred out;35,000;? Units in ending work in;process, 4,000, which are 30% complete for conversion costs;Materials are added only at the;beginning of the process.;Instructions;Compute equivalent units of production;for both materials and conversion costs.;BE 144;Tip Top Painting Company;has the following production data for March;? Beginning work in process;2,000 units;? Units transferred out;42,000;? Units in ending work in;process, 6,000, which are 80% complete for conversion costs;Materials are added only at;the beginning of the process.;Instructions;Compute equivalent units of;production for both materials and conversion costs.;145;The Kirkland Department of;Delta Manufacturing began the month of December with beginning work in process;of 4,000 units that are 100% complete as to materials and 30% complete as to;conversion costs. Units transferred out are 10,000 units. Ending work in;process contains 1,000 units that are 100% complete as to materials and 60%;complete as to conversion costs.;Instructions;Compute the equivalent;units of production for materials and conversion costs for the month of;December.;BE 146;White Supplies? total;material costs are $50,000 and total conversion costs are $65,000. Equivalent;units of production for materials are 10,000, and 3,250 for conversion costs.;Instructions;Compute;the unit costs for materials, conversion costs, and total manufacturing costs;for the month.;BE 147;Apoly Manufacturing Company;has the following production data for January.;Ending Work in Process;Beginning;Units Started into;% Complete as;to;Work in Process;Production;Units;Conversion Cost;-0-;6,500;700;30%;Instructions;Compute the physical;units for January.;BE 148;Sandusky Widget Company has;the following production data for March.;Ending Work in Process;Month;Beginning;Units;% Complete as;to;Work in Process;Transferred Out;Units;Conversion Cost;March;1,200;5,100;800;20%;Process Cost;Accounting 21 - 27;BE 148;(cont.);Instructions;Compute the physical;units for March.;BE 149;Sequal Company has the;following production data for June: units transferred out 46,000, and ending;work in process 4,000 units that are 100% complete for materials and 30%;complete for conversion costs. Unit materials cost is $5 and unit conversion;cost is $11.;Instructions;Determine the costs to be;assigned to the units transferred out and the units in ending work in process.;Solution 149 (4 min.);BE 150;Tomlinson Company has the;following production data for May;? Beginning work in process;0 units;? Units started, 62,000;? Ending work in process;7,000 units that are 100% complete for materials and 60% complete for;conversion costs;? Unit materials cost, $7;? Unit conversion cost, $10;Instructions;Determine the costs to be;assigned to the units transferred out and the units in ending work in process.;BE 151;Dirt Cleaners, Inc. has the;following production data for January;Transferred out;50,000;units;Ending work in process;6,000;units;The units in ending work in;process are 100% complete for materials and 60% complete for conversion costs.;There is no beginning work in process. Materials cost is $10 per unit and;conversion costs are $11 per unit.;Instructions;Determine the costs to be;assigned to the units transferred out and the units in ending work in process.;BE 152;Production costs chargeable;to the Sanding Department in July for Joyful Art are $12,500 for materials;$26,000 for labor, and $10,000 for manufacturing overhead. Equivalent units of;production are 25,000 for materials and 18,000 for conversion costs.;Instructions;Compute the unit costs for;materials and conversion costs.;Process Cost;Accounting 21 - 29;EXERCISES;Ex. 153;Baez Manufacturing Company;produces a product in two departments: (1) Mixing and (2) Finishing. The;company uses a process cost accounting system.;(a) Purchased raw materials for;$50,000 on account.;(b) Raw materials requisitioned;for production were;Direct materials;Mixing department;$20,000;Finishing department;14,000;(c) Incurred labor costs of;$80,000.;(d) Factory labor used;Mixing department;$48,000;Finishing department;32,000;(e) Manufacturing overhead is;applied to the product based on machine hours used in each department;Mixing department?600 machine hours at;$45 per machine hour.;Finishing department?500 machine hours;at $30 per machine hour.;(f) Units costing $66,000 were;completed in the Mixing Department and were transferred to the Finishing;Department.;(g) Units costing $60,000 were;completed in the Finishing Department and were transferred to finished goods.;(h) Finished goods costing;$30,000 were sold on account for $45,000.;Instructions;Prepare;the journal entries to record the preceding transactions for Baez Manufacturing;Company.;Ex. 154;Sanders;Company has two production departments: Fabricating and Finishing. Beginning;inventories are: Work in Process?Fabricating, $6,030, Work in;Process?Finishing, $4,100, and Finished Goods, $5,600. During the month the;following transactions occurred;1. Purchased $45,000 of raw;materials on account.;2. Incurred $65,000 of factory;labor. Wages are unpaid.;3. Incurred $50,000 of;manufacturing overhead, $44,000 was paid and the remainder is unpaid.;4. Requisitioned materials for;Fabricating, $10,000 and Finishing, $8,000.;Process Cost;Accounting 21 - 31;Ex.;154 (cont.);5. Used factory labor for;Finishing, $52,000 and Fabricating, $13,000.;6. Applied $45,000 of overhead;based on machine hours used in each department. The Finishing Department used;twice as many machine hours as did Fabricating.;Instructions;Journalize the transactions;for the month.;Ex. 155;The Pasta Factory;manufactures spaghetti sauce through two production departments: Cooking and;Packaging. For the month of February, the work in process accounts show the;following debits;Cooking;Packaging;Beginning work in process;$ -0-;$ 6,000;Materials;40,000;21,000;Labor;21,000;9,000;Overhead;25,000;14,000;Costs transferred in;50,000;Instructions;Journalize the February;transactions that involved the work in process accounts.;21 - 32 Test Bank for Accounting Principles, Eighth;Edition;Ex. 156;Benson;Industries uses a process cost system. Products are processed first by;Department A, second by Department B, and then they are transferred to the;finished goods warehouse. Shown below is the cost information for Department B during;the month of October;Costs of units;transferred in;$120,000;Manufacturing costs added;in Department B;Direct materials;$40,000;Direct labor;11,000;Manufacturing overhead;19,000;70,000;Total costs charged to;Department B in October;$190,000;The cost of work in process in;Department B at October 1 is $25,000, and the cost of work in process at;October 31 has been determined to be $30,000.;Instructions;Prepare journal entries to record for;the month of October;(a) The transfer of production;from Department A to B.;(b) The manufacturing costs;incurred by Department B.;(c) The transfer of completed;units from Department B to the finished goods warehouse.;Process Cost;Accounting 21 - 33;Ex. 157;Hardy Company manufactures;a single product by a continuous process, involving two production departments.;The records indicate that $120,000 of direct materials were issued to and;$200,000 of direct labor was incurred by Department 1 in the manufacture of the;product. The factory overhead rate is $15 per machine hour, machine hours were;6,000 in Department 1. Work in process in the department at the beginning of;the period totaled $35,000, and work in process at the end of the period was;$25,000.;Instructions;Prepare entries to record;(a) The flow of costs into Department 1 for;(1);direct materials;(2);direct labor;(3);overhead;(b) The transfer of production costs to;Department 2.;Ex. 158;Muffy Painting Company has;the following production data for March.;Ending Work;in Process;Month;Beginning;Units;% Complete as to;Work in Process;Transferred Out;Units;Conversion Cost;March;2,000;42,000;8,000;80%;Instructions;Compute;equivalent units of production for March for both materials and conversion;costs. Materials are entered at the beginning of the process.;21;- 34 Test Bank for Accounting;Principles, Eighth Edition;Ex. 159;The Nitrogen Fixation;Department of Tomco Manufacturing began the month of December with beginning;work in process of 4,000 units that are 100% complete as to materials and 30%;complete as to conversion costs. Units transferred out are 10,000 units. Ending;work in process contains 3,000 units that are 100% complete as to materials and;60% complete as to conversion costs.;Instructions;Compute the equivalent;units of production for materials and conversion costs for the month of;December.;Ex. 160;At Crenshaw Company;materials are entered at the beginning of each process. Work in process;inventories, with the percentage of work done on conversion, and production;data for its Painting Department in selected months are as follows;Beginning Work In Process;Ending Work In Process;Month;Percentage;Units;Completed;Percentage;Units;Completed;and;Transferred Out;Units;Completed;July;-0-;?;10,000;500;90%;Sept.;2,500;20%;9,000;4,000;70%;Process Cost;Accounting 21 - 35;Ex.;160 (cont.);Instructions;(a) Compute the physical units;for July.;(b) Compute the equivalent;units of production for materials and conversion costs for September.

 

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