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please help have an upcoming exam please explain Process Cost Practice Quiz-Part A The following information is related to the blending department 1. 1,900 units
please help have an upcoming exam please explain Process Cost Practice Quiz-Part A The following information is related to the blending department 1. 1,900 units in beginning wiP, 60% completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods complet ed and transferred total 21,800 units terials are added at the beginning of the process. S. Beginning WIP was $7,657 6. Cos 7. Cost of DL added during the month: $14,200 8. t of DM added during the month: $77,000 Factory overhead applied during the month: $6,880 9. Ending WIP inventory is 20% completed as to conversion costs Required: 1. Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 3. Compute cost per equivalent unit for materials and conversion costs 4. Using cost per equivalent unit above, determine (A) cost transferred out of WIP to next department and (B) cost assigned to ending WiP WIP- Blending Dept Units Units Beginning(6x2%) 7,657-eeuinning 1,900 $ 190 0 Beginning(10 %) gsH 177, | Cost to Complete Total DM 9.SSo u, Group 2 Start + Compl. DL Total ,800771016 f FOH los,|completed o5,137 Completed z1, 8o 23,40 Total Units Group 30%2lo o Ending Process Cost Quiz-Part B Units to be Assigned Costs: Whole Units Equivalent Units %DM |Direct Materials l scow. Comersion Group 1 Beginning 1400 7 Group 2 Start+ Compl Total Completed and Transferred Group 3 10 Ending 23,900 Total Units to be Assigned Costs Cost/Equivalent Unit Costs Allocated to Completed and Ending Inventory Units Total Group 1 roup 2 tal Completed oup 3 al Costs Assigned by Blending Dept. l.Boo lod Process Cost Practice Quiz-Part A The following information is related to the blending department 1. 1,900 units in beginning wiP, 60% completed as to conversion costs 2. Direct Materials added: 22,000 units 3. Goods complet ed and transferred total 21,800 units terials are added at the beginning of the process. S. Beginning WIP was $7,657 6. Cos 7. Cost of DL added during the month: $14,200 8. t of DM added during the month: $77,000 Factory overhead applied during the month: $6,880 9. Ending WIP inventory is 20% completed as to conversion costs Required: 1. Compute total units to be assigned costs 2. Compute Group 1-3 whole units and equivalent units 3. Compute cost per equivalent unit for materials and conversion costs 4. Using cost per equivalent unit above, determine (A) cost transferred out of WIP to next department and (B) cost assigned to ending WiP WIP- Blending Dept Units Units Beginning(6x2%) 7,657-eeuinning 1,900 $ 190 0 Beginning(10 %) gsH 177, | Cost to Complete Total DM 9.SSo u, Group 2 Start + Compl. DL Total ,800771016 f FOH los,|completed o5,137 Completed z1, 8o 23,40 Total Units Group 30%2lo o Ending Process Cost Quiz-Part B Units to be Assigned Costs: Whole Units Equivalent Units %DM |Direct Materials l scow. Comersion Group 1 Beginning 1400 7 Group 2 Start+ Compl Total Completed and Transferred Group 3 10 Ending 23,900 Total Units to be Assigned Costs Cost/Equivalent Unit Costs Allocated to Completed and Ending Inventory Units Total Group 1 roup 2 tal Completed oup 3 al Costs Assigned by Blending Dept. l.Boo lod
please help have an upcoming exam please explain
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