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Homework answers / question archive / Exe 4-17) Quantity Schedule, Equivalent Units, and Cost per Equivalent Unit-Weighted Average Method Pureform, Inc
Exe 4-17) Quantity Schedule, Equivalent Units, and Cost per Equivalent Unit-Weighted Average Method
Pureform, Inc., Manufactures a product that passes through two departments. Data for a recent month for the first department follow:
Units Materials Labor Overhead
Work in process, beginning………5,000 $4,320 $1,040 $1,790
Units started in process…………..45,000
Units transferred out………………42,000
Work in process, ending…………….8, 000
Cost added during the month…………………. $52,800 21,500 $32,250
The beginning work in process inventory was 80% complete with respect to materials and 60% complete with respect to labor and overhead. The ending work in process inventory was 75% complete with respect to materials and 50% complete with respect to labor and overhead.
Requires:
1.)
Materials Conversion
Units transferred to the next department…………42,000 42,000
Work in process,
8,000 units x 75% complete with respect to materials……6,000
8,000 units x 50% complete with respect to conversion……………….4, 000
Equivalent units of production………………….48, 000 46,000
Ok I don’t know if this is correct.
Quantity Schedule:
Units to be accounted for:
Work in process, (materials 80%complete, conversion 60%)……………….5, 000
Started into production…………45,000
Total units to be accounted for……….50, 000
Units accounted for as follows: .Materials Conversion
Transferred to next dept…………….42, 000
Work in process, (materials 75% complete, conversion 50%complete)…8,000
Total units accounted for 50,000 (42,000+8,000=50,000)
8,000 units x 75% =6,000 equivalent units
8,000 units x 50%= 4,000 equivalent units
Equivalent units
MATERIALS 48,000 and Conversion 46,000/
I need help doing the cost per equivalent unit
I can’t figure out the total cost.
I can come over tomorrow after work or whatever you don’t have class. It is not due until Sunday.
Exe 4-18). Quantity Schedule, Equivalent Units, and Cost per Equivalent Unit-FIFO Method
Refer to data in exe 4-17
Required:
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Managerial Accounting/Cost Accounting
Exe 4-17) Quantity Schedule, Equivalent Units, and Cost per Equivalent Unit-Weighted Average Method
Pureform, Inc., Manufactures a product that passes through two departments. Data for a recent month for the first department follow:
Units Materials Labor Overhead
Work in process, beginning.........5,000 $4,320 $1,040 $1,790
Units started in process..............45,000
Units transferred out..................42,000
Work in process, ending................8, 000
Cost added during the month...................... $52,800 21,500 $32,250
The beginning work in process inventory was 80% complete with respect to materials and 60% complete with respect to labor and overhead. The ending work in process inventory was 75% complete with respect to materials and 50% complete with respect to labor and overhead.
Requires:
1. Assume that the company uses the weighted-average method of accounting for units and costs. Prepare a quantity schedule and a computation of equivalent units for the month for the first department.
2. Determine the costs per equivalent unit for the month.
1.)
Materials Conversion
Units transferred to the next department............42,000 42,000
Work in process,
8,000 units x 75% complete with respect to materials......6,000
8,000 units x 50% complete with respect to conversion...................4, 000
Equivalent units of production......................48, 000 46,000
Ok I don't know if this is correct.
Quantity Schedule:
Units to be accounted for:
Work in process, (materials 80%complete, conversion 60%)...................5, 000
Started into production............45,000
Total units to be accounted for..........50, 000
Units accounted for as follows: .Materials Conversion
Transferred to next dept................42, 000
Work in process, (materials 75% complete, conversion 50%complete)...8,000
Total units accounted for 50,000 (42,000+8,000=50,000)
8,000 units x 75% =6,000 equivalent units
8,000 units x 50%= 4,000 equivalent units
Equivalent units
MATERIALS 48,000 and Conversion 46,000/
I need help doing the cost per equivalent unit
I can't figure out the total cost.
I can come over tomorrow after work or whatever you don't have class. It is not due until Sunday.
Exe 4-18). Quantity Schedule, Equivalent Units, and Cost per Equivalent Unit-FIFO Method
Refer to data in exe 4-17
Required:
1. Assume that the company uses the FIFO method of accounting for units and costs. Prepare a quantity schedule and a computation of equivalent units for the month for the first processing department.
2. Determine the costs per equivalent unit for the month.
Attached Files
Exe 4-17) Quantity Schedule, Equivalent Units, and Cost per Equivalent Unit-Weighted Average Method
Pureform, Inc., Manufactures a product that passes through two departments. Data for a recent month for the first department follow:
Units Materials Labor Overhead
Work in process, beginning.........5,000 $4,320 $1,040 $1,790
Units started in process.............45,000
Units transferred out............... 42,000
Work in process, ending......... .8, 000
Cost added during the month...................... $52,800 $21,500 $32,250
The beginning work in process inventory was 80% complete with respect to materials and 60% complete with respect to labor and overhead. The ending work in process inventory was 75% complete with respect to materials and 50% complete with respect to labor and overhead.
Requires:
1. Assume that the company uses the weighted-average method of accounting for units and costs. Prepare a quantity schedule and a computation of equivalent units for the month for the first department.
2. Determine the costs per equivalent unit for the month.
1)
% of Completion Equivalent Units
DM Conversion
Beginning work in process 5,000 80% and 60% 4,000 3,000
Units transferred in 45,000
Total units to account for 50,000
Units completed and 42,000 42,000 42,000
Transferred out
Work in process 8,000 75% and 50% 6,000 4,000
Total units to accounted for 50,000
Total equivalent units 48,000 46,000
8,000 units x 75% complete with respect to materials..........6,000
8,000 units x 50% complete with respect to conversion..........................4, 000
2)
DM Conversion Total
Work in process $4,320 $2,830 $7,150
Cost added during the month............... $52,800 $53,750 $106,550
Total costs to account for $57,120 $56,580 $113,700
Equivalent unit 48,000 46,000
Costs per equivalent unit $1.19 $1.23 $2.42
$57,120 $56,580 $1.19 + $1.23
48,000 46,000
Exe 4-18). Quantity Schedule, Equivalent Units, and Cost per Equivalent Unit-FIFO Method
Refer to data in exe 4-17
Required:
1. Assume that the company uses the FIFO method of accounting for units and costs. Prepare a quantity schedule and a computation of equivalent units for the month for the first processing department.
2. Determine the costs per equivalent unit for the month.
1)
% of Completion Equivalent Units
DM Conversion
Beginning work in process 5,000 80% and 60% 4,000 3,000
Units transferred in 45,000
Total units to account for 50,000
Units completed and 42,000 42,000 42,000
Transferred out
Work in process 8,000 75% and 50% 6,000 4,000
Total units to accounted for 50,000
Total equivalent units 48,000 46,000
Less: Equivalent units represented in beginning
Work in process 4,000 3,000
New equivalent units accomplished during the month 44,000 43,000
2)
DM Conversion Total
Work in process These costs were not $7,150
included in the unit-cost
calculation.
Costs incurred during the month $52,800 $53,750 $106,550
Total costs to account for $113,700
Equivalent unit 44,000 43,000
Costs per equivalent unit $1.2 $1.25 $2.45
$52,800 $56,580 $1.2 + $1.25
44,000 43,000
Please see the attached file.
