BE16.4 (L0 3) Goode Company has the following production data for selected months. Compute equivalent units of production. Ending Work in Process Month ginning Work in Process Units Transferred Out Units % Complete as to Conversion Cost January 0 35,000 10,000 40% March 0 40,000 8,000 75 July 0 45,000 16,000 25 Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process. *BE16.12. (L0 5) Production costs chargeable to the Finishing Department in May at Kim Company are materials $8,000, labor $20,000, overhead $18,000, and transferred-in costs $67,000. Equivalent units of production are materials 20,000 and conversion costs 19,000. Kim uses the FIFO method to compute equivalent units. Compute the unit costs for materials and conversion costs. Transferred-in costs are considered materials costs. Compute unit costs. E16.1 (L0 1) Robert Wilkins has prepared the following list of statements about process cost accounting. Understand process cost accounting. . Process cost systems are used to apply costs to similar products that are mass-produced in a continuous fashion. . A process cost system is used when each finished unit is indistinguishable from another. . Companies that produce soft drinks, movies, and computer chips would all use process cost accounting. . In a process cost system, costs are tracked by individual jobs. . Job order costing and process costing track different manufacturing cost elements. . Both job order costing and process costing account for direct materials, direct labor, and manufacturing overhead. . Costs flow through the accounts in the same basic way for both job order costing and process costing. . In a process cost system, only one work in process account is used. (Dm'dm-th-l . In a process cost system, costs are summarized in a job cost sheet. 10. In a process cost system, the unit cost is total manufacturing costs for the period divided by the equivalent units produced during the period. Instructions Identify each statement as true or false. If false, indicate how to correct the statement. E16.5 (LO Q, 5) In Shady Company, materials are entered at the beginning of each process. Work in process inventories, with the percentage of work done on conversion costs, and production data for its Sterilizing Department in selected months during 2020 are as follows. Compute physical units and equivalent units of production. Beginning Work in Process Mg Work in Process Month Units Conversion Cost% Units Transferred Out Units Conversion Cost% January 0 11,000 2,000 60 March 0 12,000 3,000 30 May 0 14,000 7,000 80 0 10,000 1 ,500 Instructions a. Compute the physical units for January and May. b. Compute the equivalent units of production for (1) materials and (2) conversion costs for each month. E16.8 (LO 3, A) The Blending Department of Luongo Company has the following cost and production data for the month of April. Determine equivalent units, unit costs, and assignment of costs. Costs: Work in process, April 1 Direct materials: 100% complete $100,000 Conversion costs: 20% complete E,M Cost of work in process, April 1 $170,000 Costs incurred during production in April Direct materials $ 800,000 Conversion costs 3i5,M Costs incurred in April $1,165,000 Units transferred out totaled 17,000. Ending work in process was 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs. Instructions a. Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April. b. Compute the unit costs for the month. c. Determine the costs to be assigned to the units transferred out and in ending work in process. E16.13 (LO 3, A) The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process. Prepare a production cost report. Manufacturing M Production Data Beginning work in process Beginning work in process 15,000 units Materials $18,000 1/10 complete Conversion costs j $ 32,175 Units transferred out 55,000 Materials 180,000 Units started 51,000 Labor 67,380 Ending work in process 11,000 units Overhead 61,445 1/5 complete Instructions Prepare a production cost report for the Welding Department for the month of February. P16.1A (LO 2) Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2020, inventories consisted of Raw Materials $26,000, Work in ProcessMixing $0, Work in ProcessPackaging $250,000, and Finished Goods $289,000. The beginning inventory for Packaging consisted of 10,000 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 50,000 units were started into production in the Mixing Department and the following transactions were completed. Journalize transactions. 1. Purchased $300,000 of raw materials on account. 2. Issued raw materials for production: Mixing $210,000 and Packaging $45,000. 3. Incurred labor costs of $278,900. 4. Used factory labor: Mixing $182,500 and Packaging $96,400. 5. Incurred $810,000 of manufacturing overhead on account. 6. Applied manufacturing overhead on the basis of $23 per machine hour. Machine hours were 28,000 in Mixing and 6,000 in Packaging. 7. Transferred 45,000 units from Mixing to Packaging at a cost of $979,000. 8. TranSferred 53,000 units from Packaging to Finished Goods at a cost of $1,315,000. 9. Sold goods costing $1,604,000 for $2,500,000 on account. Instructions Journalize the October transactions. BE16.6 (L0 5) In Mordica Company, total materials costs are $33,000, and total conversion costs are $54,000. Equivalent units of production are materials 10,000 and conversion costs 12,000. Compute the unit costs for materials, conversion costs, and total manufacturing costs. Compute unit costs of production. BE16.1 (LO 2) Warner Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. Journalize entries for accumulating costs. BE16.2 (L0 2) Data for Warner Company are given in BE16.1. Supporting records show that (a) the Assembly Department used $24,000 of the raw materials and $35,000 of the factory labor, and (b) the Finishing Department used the remainder. Journalize the assignment of the costs to the processing departments on March 31. Journalize the assignment of materials and labor costs. BE16.3 (LO 2) Factory labor data for Warner Company are given in BE16.2. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments. Journalize the assignment of overhead costs