Spring 2023 D Question 1 4 pts Home Announcements It is necessary to calculate equivalent units of production in a Account Modules department because Textbook Dashboard The physical units in the department are always 100% complete. Discussions O At times a department may use a job order cost system and then switch to a process cost Courses Grades system. Syllabus O Some units worked on in the department are not fully complete. Calendar BC Peer Tutoring O Units in ending work in process inventory are same for materials and conversion costs 46 regardless of its percentage of completion. NetTutor Inbox Renegade Hub for Canvas Help! History Writing Center D Question 2 4 pts Studio ? Conversion costs are sum of Help O Direct material costs and overhead costs Labor costs and overhead costs O Direct labor and indirect labor costs O Fixed and variable overhead costs KD Question 5 12 pts Spring 2023 Home Announcements Montreal Company has gathered the following information. Account Modules Production and Manufacturing Costs Cost & Textbook Equivalent Units and Cost Information Completion % Dashboard Discussions Units in beginning work in process 5,000 Courses Grades Units started into production 75,000 Syllabus Units in ending work in process 15,000 Calendar BC Peer Tutoring Percent complete for conversion costs in ending 25% 46 NetTutor work in process Inbox Renegade Hub for Costs incurred: Canvas Help! Direct materials $160,000 History Writing Center Direct labor $105,000 Studio Overhead $204,375 ? Materials are added at the beginning of the process, meaning 100% of Help the materials are allocated to Ending Work in Process. Compute equivalent units of production for materials and for conversion costs. . For units, they MUST be typed as a whole number, meaning it should NOT include any fractions or decimals. For example, if you answer is 100 units, K you MUST type 100.you MUST type 100. Spring 2023 Responses - Equivalent Units Home Materials Conversion Costs Announcements The Equivalent Units 80,000 68,750 Account Modules of Production Textbook Dashboard Discussions Determine the unit costs of production. Courses Grades . Round unit costs to 2 decimal places, e.g. 2.25. Syllabus . When typing your responses, do NOT include a dollar sign. Calendar BC Peer Tutoring Responses - Unit Costs 46 NetTutor Materials Conversion Costs Inbox Renegade Hub for Unit Costs $ 2.00 $ 4.50 Canvas Help! History Writing Center Studio Show the assignment of costs to units transferred out and in process. ? . Round your answer to 0 decimal places, e.g. 10,000. Help . When typing your responses, do NOT include a dollar sign. Responses - Manufacturing Costs Transferred Out $ 422,500 Ending Work in Process $ 46,875 KGabrus Company produces a product in two departments: (1) Cooking Spring 2023 and (2) Finishing. The company uses a process cost accounting system. Home Accounting Transactions Announcements No Transactions Account Modules Purchased $60,000 of raw materials for half cash and the rest on Textbook (A) Dashboard account. Discussions Units costing $66,000 were completed in the Cooking Department (B Courses Grades and were transferred to the Finishing Department. Syllabus Finished goods costing $59,000 were sold on account for Calendar BC Peer Tutoring (C) $92,000. 46 NetTutor (Hint: Pay attention to the journal explanation.) Inbox Renegade Hub for Canvas Help! History Writing Center Prepare the journal entries to record the preceding transactions for BNC Company. Studio . List debit transactions first and then list credit transactions. ? General Journals Help Account Titles and No. Debit ($) Credit Explanation (A) Raw Materials Inventory $60,000 Cash $30,000 KAccounts Payable $30,000 Spring 2023 Home Announcements To record purchase of materials Account Modules Textbook Dashboard (B) Work in Process Inventory-Fil v $66,000 Discussions Courses Grades $66,000 Work in Process Inventory-Cc v Syllabus Calendar BC Peer Tutoring To record transfer of units to 46 the Finishing Department NetTutor Inbox Renegade Hub for Canvas Help! (C) Accounts Receivable $92,000 History Writing Center $92,000 Sales Revenue Studio ? To record the sale of goods Help on account Cost of Goods Sold $59,000 $59,000 Work in Process Inventory-Fil K