Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answe all parts and show work! 1. A department adds raw materials to a process at the beginning of the process and incurs conversion costs

answe all parts and show work!
image text in transcribed
image text in transcribed
1. A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 80,000 units were started into production in January; and there were 20,000 units that kiere 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of January? 2. A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 80,000 units were started into production in January; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for conversion costs for the month of January? 3. Crawford Company has the following equivalent units for July: materials 10,000 and conversion costs 18,000. Production cost data are: Materia Conversi Is on Work in $ process $ 3.000 6.400 July 1 Costs added 50,400 42,000 in July The unit production costs for Materials in July are (do not round to the nearest dollar): 4. Holton Company has the following equivalent units for July: materials 20,000 and conversion 18,000. Production cost data are: 9 Materia Conversi Is on Work in process $8,000 $7,100 July 1 Costs added 63,000 52,300 in July The unit production costs for Conversion costs in July are (Do not round). 5. Chicotti Company has 6,000 units in beginning work in process, 60% complete as to conversion costs, 75,000 units transferred out to finished goods, and 2,000 units in ending work in process 20% complete as to conversion costs. The beginning and ending inventory is fully complete as to materials costs. How much are equivalent units for conversion costs if the FIFO method is used

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations of Financial Management

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta

10th Canadian edition

1259261018, 1259261015, 978-1259024979

Students also viewed these Accounting questions

Question

6. Discuss the ethical considerations for the global organization

Answered: 1 week ago