Question
Q-toric Company manufactures a single product, mushroom soup, which undergoes three production processes (chopping, mixing and packaging) before it can be transferred to finished goods.
Q-toric Company manufactures a single product, mushroom soup, which undergoes three production processes (chopping, mixing and packaging) before it can be transferred to finished goods.
In the month of February, the chopping department incurred $8,100 and $4,900 for material cost and conversion cost respectively during the month. Beginning inventory was 45% complete as to conversion costs and materials are added at the beginning of the period at each department. Beginning work in process inventory has 8,600 units, which are attached with $3,800 material costs and $2,708 conversion costs.
The chopping department started 8,900 units during the period. There are 3,300 units remaining in the chopping process at the end of the month, which are 50% complete as to conversion cost.
Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole unit or whole dollar. a) Calculate the number of units transferred from the chopping department to the mixing department.
Inputs | Outputs | |||||
Beginning WIP | Add Current Month | Total Production | Completed Transfer Out | Ending WIP | Total Outputs | |
Whole Units | Answer | Answer | Answer | Answer | Answer | Answer |
b) Using the weighted average costing method, calculate the equivalent units for material and conversion costs.
Inputs | Outputs | |||||
Beginning WIP | Add Current Month | Total Production | Completed Transfer Out | Ending WIP | Total Outputs | |
Direct Materials Units | Answer | Answer | Answer | Answer | Answer | Answer |
% Equivalent Completed | Answer% | Answer% | ||||
Conversion Equivalent Units | Answer | Answer | Answer | Answer |
c) For material and conversion costs, calculate the cost per equivalent unit. Round the Cost per Unit to 2 decimal places.
Inputs | Cost per Unit | Outputs | |||||
Beginning WIP | Add Current Month | Total Production | Completed Transfer Out | Ending WIP | Total Outputs | ||
Direct Materials Units | Answer | Answer | Answer | Answer | |||
Direct Materials Cost | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
Conversion Units | Answer | Answer | Answer | Answer | |||
Conversion Cost | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
Total Cost | $Answer | $Answer | $Answer | $Answer | $Answer | $Answer |
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