I attached a word version with the question listed first and the requested information listed below each question.
Chapter 6 1 Question: Funtime Inc. makes small toys in a one-department production process. Beginning Inventory: 15,000 toys (60% complete to labor; 75% complete as to overhead) Started into production: plastic for 620,000 toys Ending WIP Inventory: 25,400 toys (35% complete as to labor; 60% complete as to overhead) a) Compute the EUP for direct material; direct labor; and overhead using weighted average process costing. b) Compute the EUP for direct material; direct labor & overhead using FIFO process cost. c) Reconcile the calculations in parts (a) and (b) 21. a. Beginning WIP inventory Started To account for 635,000 Units Beginning WIP inventory Started & completed Ending WIP inventory Equivalent units 635,000 b. Beginning WIP inventory Started and completed Ending WIP inventory Accounted for 635,000 Units Beginning WIP inventory Started & completed Ending WIP inventory Equivalent units 635,000 DM DL OH 635,000 618,490 624,840 DM DL OH 620,000 609,490 613,590 c. Equivalent units (WA) EUP in beginning WIP inventory Equivalent units (FIFO) Question: lilliputian inc. produces dog food. all direct material is entered at the beginning of the process. some shrinkage occurs during the production process,but management considers any shrinkage of less than 8% to be normal. october 2010 data are as follows: beginning wip inventory (45% complete as to conversion) 36,000 pounds started during the month 120,000 pounds transferred to fg inventory 126,000 pounds ending wip inventory (15% complete as to conversion) 21,600 pounds loss ? pounds the following costs are associated with october production: Chapter 6 2 beginning wip inventory: material 14,000 conversion 10,800 24,800 current period: material 39,060 conversion 33,912 72,972 total cost to account for 97,772 prepare an october 2010 cost of production report for lillputian inc. using fifo process costing. 44. Normal spoilage allowed = 120,000 pounds x ? ? = Units Beginning inventory Pounds started Pounds to account for Conversion Material Conversion 111,600 113,040 156,000 Beginning WIP inventory Started and completed Ending WIP inventory Normal spoilage Pounds accounted for (FIFO) Material 156,000 Total Beginning inventory cost Current costs Total costs Divided by EUP Cost per EUP Cost Assignment Transferred out: Beginning WIP inventory cost Conversion cost to complete Total cost of beginning inventory Started & completed Ending WIP inventory: Material Conversion Total cost accounted for Question: Chapter 6 3 Ro-Day-O Inc. manufactures belt buckles in a single-step production process. The following information is available for June 2010: Whole Units Cost of Material Cost of Labor Beginning WIP 200,000 $1,200,000 $1,728,000 Units started during period 1,000,000 7,800,000 9,612,000 Units in ending inventory 300,000 Beginning inventory units were 100 percent complete as to material and 80 percent complete as to labor. The ending inventory units were 100 percent complete as to material and 50 percent complete as to labor. Overhead is applied to production at the rate of 60 percent of direct labor cost. a. Prepare a schedule to compute equivalent units of production by cost component assuming the weighted average method. b. Determine the unit production costs for material and conversion. c. Calculate the costs assigned to completed units and ending inventory for August 2010. 47. a. Units Beginning WIP inventory Units started Units to account for Conversion Labor Overhead 1,200,000 Beginning WIP inventory Started & completed Ending WIP inventory Units accounted for Material 1,200,000 b. Material Cost in BI Current cost Total cost to account for Divided by EUP Cost per EUP Total cost to account for = c. Transferred out Ending inventory: Material Chapter 6 4 Conversion Total cost accounted for
