{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-14T00:11:07-04:00", "answer_date": "2024-09-14 00:11:07", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10724022", "url": "\/study-help\/questions\/gomez-manufacturing-corporation-produces-a-dandruff-shampoo-in-three-consecutive-10724022", "question_creation_date_js": "2024-09-14T00:11:07-04:00", "question_creation_date": "Sep 14, 2024 12:11 AM", "meta_title": "[Solved] Gomez Manufacturing Corporation produces | SolutionInn", "meta_description": "Answer of - Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes. The costs of Department 1 | SolutionInn", "meta_keywords": "gomez,manufacturing,corporation,produces,dandruff,shampoo,three,consecutive,processes,costs,department,1", "question_title_h1": "Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes. The costs of Department 1 for June 2016 were as follows: Cost of beginning", "question_title": "Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes. The", "question_title_for_js_snippet": "Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes The costs of Department 1 for June 2016 were as follows Cost of beginning inventory Direct material $8,250 Conversion costs 19,110 Costs added in Department 1 Direct material $335,505 Direct labor 537,450 Manufacturing overhead 233,100 1,106,055 Department 1 handled the following units during June Units in process, June 1 2,000 Units started in Department 1 45,000 Units transferred to Department 2 46,000 Units in process, June 30 1,000 On average, the June 1 units were 40 complete the June 30 units were 70 complete Direct materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1 Gomez uses the weighted average method for process costing Prepare the product cost report for Department 1 for June Round average cost per equivalent unit to four decimal places Use rounded answers for subsequent calculations Round other answers to the nearest whole number Product Cost Report Direct Materials Conversion Costs Beginning Inventory $Answer $Answer $Answer Current Answer Answer Answer Total Costs to Account For $Answer $Answer $Answer Total Equivalent Units Answer Answer Average cost Equivalent unit (round four decimal places) $Answer $Answer Complete Transferred Direct Materials $Answer Conversion costs Answer Cost of Goods Manufactured $Answer Ending Inventory Direct Materials $Answer Conversion costs Answer Cost of Ending Inventory $Answer Total Costs Allocated $Answer", "question_description": "

Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes. The costs of Department 1 for June 2016 were as follows:<\/p>
Cost of beginning inventory<\/td> <\/tr>
Direct material<\/td> <\/td> $8,250<\/td> <\/tr>
Conversion costs<\/td> <\/td> 19,110<\/td> <\/tr>
Costs added in Department 1<\/td> <\/tr>
Direct material<\/td> $335,505<\/td> <\/td> <\/tr>
Direct labor<\/td> 537,450<\/td> <\/td> <\/tr>
Manufacturing overhead<\/td> 233,100<\/td> 1,106,055<\/td> <\/tr> <\/tbody> <\/table>

<\/p>

Department 1 handled the following units during June:<\/p>

<\/p>
Units in process, June 1<\/td> 2,000<\/td> <\/tr>
Units started in Department 1<\/td> 45,000<\/td> <\/tr>
Units transferred to Department 2<\/td> 46,000<\/td> <\/tr>
Units in process, June 30<\/td> 1,000<\/td> <\/tr> <\/tbody> <\/table>

<\/p>

On average, the June 1 units were 40% complete; the June 30 units were 70% complete. Direct materials are added at the beginning of the process, and conversion costs occur evenly throughout the process in Department 1. Gomez uses the weighted average method for process costing.<\/p>

Prepare the product cost report for Department 1 for June.<\/p>

<\/p>

Round average cost per equivalent unit to four decimal places<\/strong>. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number.<\/p>
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<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/tr> <\/tbody> <\/table>

<\/p>

<\/p>
Product Cost Report<\/th> <\/tr>
<\/th> Direct Materials<\/th> <\/th> Conversion Costs<\/th> <\/th> <\/tr> <\/thead>
Beginning Inventory<\/td> $Answer<\/td> <\/td> $Answer<\/td> <\/td> $Answer<\/td> <\/td> <\/tr>
Current<\/td> Answer<\/td> <\/td> Answer<\/td> <\/td> Answer<\/td> <\/td> <\/tr>
Total Costs to Account For<\/td> $Answer<\/td> <\/td> $Answer<\/td> <\/td> $Answer<\/td> <\/td> <\/tr>
Total Equivalent Units<\/td> <\/td> <\/td> Answer<\/td> <\/td> Answer<\/td> <\/td> <\/tr>
Average cost \/ Equivalent unit (round four decimal places)<\/td> <\/td> <\/td> $Answer<\/td> <\/td> $Answer<\/td> <\/td> <\/tr>
<\/td> <\/tr>
Complete \/ Transferred:<\/td> <\/tr>
Direct Materials<\/td> $Answer<\/td> <\/td> <\/tr>
Conversion costs<\/td> Answer<\/td> <\/td> <\/tr>
Cost of Goods Manufactured<\/td> $Answer<\/td> <\/td> <\/tr>
Ending Inventory:<\/td> <\/tr>
Direct Materials<\/td> $Answer<\/td> <\/tr>
Conversion costs<\/td> Answer<\/td> <\/td> <\/tr>
Cost of Ending Inventory<\/td> $Answer<\/td> <\/td> <\/tr>
Total Costs Allocated<\/td> $Answer<\/td> <\/td> <\/tr> <\/tbody> <\/table>

<\/p>

<\/p>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/tr>
<\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/td> <\/tr> <\/tbody> <\/table>", "transcribed_text": "", "related_book": { "title": "Hospitality Financial Accounting", "isbn": "9780470598092, 470083603, 978-0470083604", "edition": "2nd Edition", "authors": "Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/239.jpg", "uri": "\/textbooks\/hospitality-financial-accounting-2nd-edition-239", "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-14 00:11:07", "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/macintyre-fabrications-ltd-of-aberdeen-scotland-has-recently-begun-a", "description": "MacIntyre Fabrications, Ltd., of Aberdeen, Scotland, has recently begun a continuous improvement campaign in conjunction with a move toward Lean Production. Management has developed new performance...", "stars": 3 }, { "url": "\/study-help\/questions\/gomez-manufacturing-corporation-produces-a-dandruff-shampoo-in-three-consecutive-10724022", "description": "Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes. The costs of Department 1 for June 2016 were as follows: Cost of beginning inventory Direct material $8,250...", "stars": 3 }, { "url": "\/study-help\/questions\/this-is-the-other-part-to-the-flexible-budget-report-2433546", "description": "This is the other part to the flexible budget report Actual R su AirOuaJ Test Corporation Flexible Budget Performance Report For the Month Ended February 28 Flexible Bud et Planning Bud et Jobs...", "stars": 3 }, { "url": "\/study-help\/questions\/a-parts-supply-store-orders-a-particular-item-on-a-1002431", "description": "A parts supply store orders a particular item on a weekly basis. The weekly demand is 3 0 units with a standard deviation of four units. The holding cost is $ 5 per unit per week and a 9 0 % in -...", "stars": 3 }, { "url": "\/study-help\/questions\/analyze-the-decision-of-ikea-to-enter-the-bricks-and-1002447", "description": "analyze the decision of IKEA to enter the bricks and mortar US retail environment with its largest investment in a single country yet (Reuters, 2023). Is IKEA's counterintuitive move based on sound...", "stars": 3 }, { "url": "\/study-help\/questions\/chikako-is-applying-for-a-fulltime-salaried-position-as-an-3243487", "description": "Chikako is applying for a full-time, salaried position as an administrative assistant with Hitachi Systems, LLC. During the interview process, Chikako explains that she has low vision and will need...", "stars": 3 }, { "url": "\/study-help\/questions\/mike-miko-michael-and-mikhael-formed-a-partnership-several-years-1320905", "description": "Mike, Miko, Michael and Mikhael formed a partnership several years ago. They have decided to terminate operations and liquidate the business. The following balance sheet is drawn up as a guideline...", "stars": 3 }, { "url": "\/study-help\/questions\/millikan-oil-drop-lab-purpose-to-explore-the-millikan-3633444", "description": "Millikan Oil Drop Lab Purpose . to explore the Millikan Oil Drop experiment . determine the value of the elementary charge Apparatus...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/cost-formula-the-following-total-cost-data-are-for-phoenix-10724021", "next": "\/study-help\/questions\/perez-company-has-the-following-information-for-the-pay-period-10724023" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Gomez Manufacturing Corporation produces a dandruff shampoo in three consecutive processes. The", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/gomez-manufacturing-corporation-produces-a-dandruff-shampoo-in-three-consecutive-10724022" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }}