In process costing, a separate work-related in procedure account is maintained for each:individual order.equivalent unit.processing department.cost category (i.e., materials, switch cost).

You are watching: In process costing, a separate work in process account is kept for each:


Which that the following journal entries would certainly be supplied to record straight labor expenses in a firm having two processing departments (Department A and Department B)?Work in ProcessXXX Salaries and also Wages Payable XXX Salaries and Wages ExpenseXXX Salaries and Wages Payable XXX job-related in Process-Department AXXX work-related in Process-Department BXXX Salaries and also Wages Payable XXX Salaries and Wages PayableXXX occupational in process XXX
Assume there to be no beginning work in procedure inventory and also the finishing work in procedure inventory is 70% finish with respect to conversion costs. Under the weighted-average method, the number of equivalent units of manufacturing with respect come conversion prices would be:the very same as the units completed.less than the units completed.the very same as the systems started throughout the period.less than the devices started throughout the period.
Malcolm firm uses a weighted-average process costing system. All materials at Malcolm are included at the beginning of the production process. The equivalent units for materials at Malcolm would be the amount of:units in ending work in process and the systems started.units in beginning work in process and the units started.units in ending work in procedure and the devices started and also completed.units in start work in process and the systems started and completed.
When computer the price per equivalent unit, the weighted-average technique of procedure costing considers:costs incurred during the current period only.costs incurred throughout the current period plus price of ending work in process inventory.costs incurred during the current duration plus expense of start work in process inventory.costs incurred throughout the current period less expense of start work in procedure inventory.
Under the weighted-average method, the price of units transferred out of a room is computed as complies with for a expense category:Costs added during the duration + expense of start work in procedure inventoryUnits moved to the following department × cost per tantamount unitUnits in finishing work in procedure inventory × cost per indistinguishable unitCost of finishing work in procedure inventory − price of beginning work in procedure inventory
In the expense reconciliation report under the weighted-average method, the "Total price accounted for" equals:Cost of start work in procedure inventory + cost of units moved outCost of start work in process inventory + expense of units transferred inCost of finishing work in procedure inventory + price of units moved outCost of ending work in process inventory + Cost included to production during the period
In the expense reconciliation report under the weighted-average method, the "Costs to be accounting for" section includes which that the complying with items?Cost of start work in process inventoryCost of finishing work in process inventoryCost the units moved outCost of finishing finished goods inventory
All that the complying with statements are correct as soon as referring to procedure costing except:Process costing would be proper for a jeweler who provides custom jewel to order.A process costing system has the same basic purposes as a job-order costing system.Units produced are identical from each other.Costs are accumulated by department.
A process costing system is work in those situations where:many different products, jobs, or batches of production are being created each period.where manufacturing requires a single, homogeneous product that flows evenly v the production procedure on a consistent basis.a service is carry out such together in a law firm or an accountancy firm.full or absorb cost technique is not employed.
where manufacturing involves a single, homogeneous product that flows evenly v the production process on a continuous basis.
Which that the following varieties of providers would generally use procedure costing fairly than job-order costing?A tiny appliance fix shop.A manufacturer of advertisement passenger aircraft.A specialty equipment manufacturer.A breakfast grain manufacturer.
The Werner Corporation provides the weighted-average an approach in its procedure costing system. The company recorded 24,400 indistinguishable units for conversion expenses for November in a certain department. There were 4,000 systems in the finishing work in procedure inventory on November 30 which to be 60% complete with respect to conversion costs. The November 1 work in process inventory consisted of 5,000 systems which were 40% finish with respect to conversion costs. A total of 22,000 devices were completed and also transferred out of the department throughout the month. The variety of units started during November in the department was:22,000 units17,000 units26,000 units21,000 units
21,000 unitsBeginning work-related in process inventory + systems started right into production = finishing work in procedure inventory + systems completed and transferred outUnits started right into production = finishing work in procedure inventory + units completed and transferred the end - start work in procedure inventoryUnits started into production = 4,000 + 22,000 - 5,000 = 21,000
Jared Beverage Corporation provides a procedure costing mechanism to collect expenses related to the production of that is celery flavored cola. The cola is very first processed in a mix Department and also is then moved out and finished increase in the Bottling Department. The finished instances of cola room then moved to Finished products Inventory. The complying with information relates to the company"s two departments because that the month the January:Mixing BottlingCases the cola in work in process, January 1 10,000 5,000 situations of cola completed/transferred out throughout January 65,000 ? cases of cola in work-related in process, January 31 4,000 7,000How many situations of cola to be completed and also transferred come Finished items Inventory during January?70,00063,00058,00077,000
63,000Units completed and transferred out = systems in beginning work in procedure inventory + units started into production or moved in - devices in ending work in procedure inventoryUnits completed and also transferred the end = 5,000 + 65,000 - 7,000 = 63,000
The Assembly Department started the month with 24,000 systems in its beginning work in procedure inventory. An additional 309,000 units were transferred in from the former department during the month to start processing in the Assembly Department. There were 29,000 systems in the finishing work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month?333,000362,000304,000314,000
304,000Units completed and transferred out = units in start work in procedure inventory + devices started right into production or moved in - units in ending work in process inventoryUnits completed and also transferred out = 24,000 + 309,000 - 29,000 = 304,000
Jersey Corporation has actually a process costing mechanism in i m sorry it offers the weighted-average method. The indistinguishable units because that conversion costs for the month to be 47,500 units. The beginning work in process inventory consisted of 15,000 units, 60% complete with respect come conversion costs. The finishing work in process inventory included 10,000 units, 75% complete with respect come conversion costs. The variety of units started throughout the month was:25,000 units34,000 units35,000 units40,000 units
35,000 unitsWeighted-average methodEquivalent units of production = Units transferred to the following department or come finished products + identical units in finishing work in procedure inventory47,500 = Units moved to the following department or to finished products + 10,000 × 75%Units moved to the next department or come finished items = 47,500 − 10,000 × 75% = 40,000Units in beginning work in process inventory + devices started into production or transferred in = units in finishing work in procedure inventory + devices completed and transferred out15,000 + units started right into production or moved in = 10,000 + 40,000Units started right into production or moved in = 10,000 + 40,000 - 15,000 = 35,000
Bims Corporation uses the weighted-average method in its procedure costing system. The Assembly Department began the month with 2,000 devices in its start work in procedure inventory that were 70% complete with respect come conversion costs. Secondary 61,000 units were moved in from the front department throughout the month to start processing in the Assembly Department. There to be 18,000 systems in the ending work in process inventory the the Assembly Department the were 60% complete with respect to conversion costs.What were the indistinguishable units for conversion expenses in the Assembly Department because that the month?45,00077,00054,40055,800
55,800Weighted-average methodUnits moved to the next department = systems in start work in procedure + devices started right into production - devices in finishing work in procedure = 2,000 + 61,000 - 18,000 = 45,000ConversionUnits moved to the next department 45,000 ending work in process:Conversion: 18,000 systems × 60% 10,800 indistinguishable units of production 55,800
Inacio Corporation uses the weighted-average method in its procedure costing system. Data worrying the an initial processing department for the many recent month are provided below:Beginning occupational in process inventory: units in start work in procedure inventory 800 materials costs$12,900 counter costs$5,000 Percent complete with respect to products 75%Percent complete with respect come conversion 20%Units started right into production throughout the month 9,500 Units transferred to the next department throughout the month 8,400 products costs added during the month$172,000 conversion costs added during the month$240,200 ending work in procedure inventory: devices in finishing work in process inventory 1,900 Percent finish with respect to materials 90%Percent complete with respect come conversion 30%What room the equivalent units because that conversion costs for the month in the an initial processing department?8,4008,97057010,300
8,970Weighted-average methodConversionUnits transferred to the following department 8,400 ending work in process:Conversion: 1,900 units × 30% 570 tantamount units of manufacturing 8,970
Inacio Corporation provides the weighted-average method in its process costing system. Data concerning the first processing department because that the most recent month are detailed below:Beginning work in process inventory: units in beginning work in procedure inventory 800 products costs$12,900 conversion costs$5,000 Percent complete with respect to products 75%Percent complete with respect to conversion 20%Units started into production throughout the month 9,500 Units moved to the following department throughout the month 8,400 materials costs added during the month$172,000 counter costs added during the month$240,200 finishing work in process inventory: units in ending work in process inventory 1,900 Percent finish with respect to materials 90%Percent finish with respect come conversion 30%The expense per tantamount unit for products for the month in the very first processing department is closestly to:$17.01$17.95$16.70$18.29
$18.29Weighted-average methodMaterialsUnits transferred to the next department 8,400 finishing work in process:Materials: 1,900 devices × 90% 1,710 equivalent units of production 10,110MaterialsCost of beginning work in process inventory$12,900 Costs included during the period 172,000 full cost (a)$184,900 tantamount units of production (b) 10,110 cost per identical unit (a) ÷ (b)$18.29
Quality Brick company produces bricks in two processing departments—Molding and also Firing. Information relating come the company"s work in in march follows:Raw materials used in production: Molding Department, $23,000; and Firing Department, $8,000.Direct labor prices incurred: Molding Department, $12,000; and also Firing Department, $7,000.Manufacturing overhead to be applied: Molding Department, $25,000; and also Firing Department, $37,000.Unfired, molded bricks were transferred from the Molding department to the firing Department. According to the company"s procedure costing system, the expense of the unfired, molded bricks was $57,000.Finished bricks were transferred from the Firing department to the finished products warehouse. According to the company"s procedure costing system, the price of the finished bricks to be $103,000.Finished bricks were marketed to customers. Follow to the company"s process costing system, the price of the finished bricks marketed was $101,000.Required:Prepare journal entries to record items (a) with (f) above. (If no entry is required for a transaction/event, select "No newspaper entry required" in the first account field.)
a WIPm 23,000 WIPf 8,000 RM 31,000 b WIPm 12,000 WIPf 7,000 incomes Pay 19,000 c WIPm 25,000 WIPf 37,000 man Over 62,000 d WIPf 57,000 WIPm 57,000 e finished G 103,000 WIPf 103,000 f COGS 101,000 finished G 101,000
Clonex Labs, Inc., supplies the weighted-average an approach in its process costing system. The complying with data are available for one department for October:Percent perfect UnitsMaterialsConversionWork in process, October 130,00065%30%Work in process, October 3115,00080%40%The department began 175,000 units right into production during the month and transferred 190,000 completed units to the following department.Required:Compute the equivalent units of production for October.
materials 202,000conversion 196,000Weighted-Average Method:Equivalent devices of production MaterialsConversionUnits moved out190,000190,000Equivalent units in finishing work in procedure inventory: 15,000 units × 80%12,000 15,000 units × 40% 6,000Equivalent systems of production202,000 196,000
Superior Micro assets uses the weighted-average an approach in its procedure costing system. Data for the Assembly Department because that May show up below:MaterialsLaborOverheadWork in process, might 1$18,000$5,500$27,500Cost added during May$238,900$80,300$401,500Equivalent systems of manufacturing 35,000 33,000 33,000Required:Compute the price per indistinguishable unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)
cost every unit materials:7.34 labor:2.60 overhead:13.00 total:22.94Cost of beginning work in process inventory$18,000$5,500$27,500Cost included during the duration 238,900 80,300 401,500Total cost (a)$256,900$85,800$429,000Equivalent systems of manufacturing (b) 35,000 33,000 33,000Cost per indistinguishable unit (a) ÷ (b)$7.34$2.60$13.00Materials$7.34Labor 2.60Overhead 13.00Total expense per indistinguishable unit$22.94
Data concerning a recent period"s activity in the prepare Department, the very first processing department in a company that uses procedure costing, appear below:MaterialsConversionEquivalent devices in finishing work in process inventory 2,000 800 cost per indistinguishable unit$13.86 $4.43A total of 20,100 systems were completed and transferred to the following processing department throughout the period.Required:1. Compute the price of finishing work in procedure inventory because that materials, conversion, and in total.2. Compute the expense of the devices completed and also transferred the end for materials, conversion, and in total.

See more: Question: How Many Chains In A Mile S To Chains, Chain (Unit)


cost of finish WIP products 27,720.00 conversion 3,544.00 total31,264.00 cost of systems out materials278,586.00 conversion89,043.00 complete 367,629.001.MaterialsConversionTotalEnding work in procedure inventory: identical units 2,000 800 expense per identical unit$13.86 $4.43 expense of finishing work in process inventory$27,720 $3,544 $31,2642.MaterialsConversionTotalUnits completed and also transferred out: Units moved to the following department 20,100 20,100 price per identical unit$13.86 $4.43 price of units moved out$278,586 $89,043 $367,629
Maria to be Corporation provides the weighted-average technique in its process costing system. The Baking Department is just one of the processing departments in that strudel manufacturing facility. In June in the Baking Department, the expense of beginning work in procedure inventory was $3,570, the cost of finishing work in process inventory was $2,860, and also the cost added to production was $43,120.Required:Prepare a price reconciliation report because that the Baking Department because that June.
costs to be accounting for cost beg WIP 3,570 cost included to prod during 43,120 complete cost to be accounted because that 46,690 prices accounted for together follows expense end WIP 2,860 cost units compl and trans 43,830 full cost accounted because that 46,690Cost of start work in process inventory+Costs included to production during the period=Cost of ending work in process inventory+Cost of units completed and transferred the end $3,570 + $43,120=$2,860+Cost of devices completed and also transferred out expense of units completed and transferred out=$3,570 + $43,120 − $2,860 cost of systems completed and also transferred out=$43,830
})}else;window.location.assign("https://ptcouncil.net/explanations/textbook-solutions/glencoe-accounting-first-year-course-1st-edition-9780078688294");">
*

})}else;window.location.assign("https://ptcouncil.net/explanations/textbook-solutions/financial-accounting-4th-edition-9781259730948");">

})}else;window.location.assign("https://ptcouncil.net/explanations/textbook-solutions/managerial-accounting-16th-edition-9781260153132");">
*

})}else;window.location.assign("https://ptcouncil.net/explanations/textbook-solutions/bundle-intermediate-accounting-16e-binder-ready-version-wileyplus-access-code-16th-edition-9781119231554");">
*

Bundle: Intermediate accounting 16e Binder all set Version + WileyPLUS accessibility Code16th EditionDonald E. Kieso, Jerry J. Weygandt, terry D. Warfield
window.ptcouncil.net<"productClickLinkData"> = <"name":"Ch6","id":"543142427","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;})}elsewindow.ptcouncil.net<"productClickLinkData"> = <"name":"Ch6","id":"543142427","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;;window.location.assign("https://ptcouncil.net/543142427/ch6-flash-cards/");" id="1-543142427">
Ch6
24 terms
aepp3045546
window.ptcouncil.net<"productClickLinkData"> = <"name":"Ch5","id":"543049400","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;})}elsewindow.ptcouncil.net<"productClickLinkData"> = <"name":"Ch5","id":"543049400","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;;window.location.assign("https://ptcouncil.net/543049400/ch5-flash-cards/");" id="1-543049400">
Ch5
21 terms
aepp3045546
window.ptcouncil.net<"productClickLinkData"> = <"name":"Ch1","id":"543055951","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;})}elsewindow.ptcouncil.net<"productClickLinkData"> = <"name":"Ch1","id":"543055951","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;;window.location.assign("https://ptcouncil.net/543055951/ch1-flash-cards/");" id="1-543055951">
Ch1
25 terms
aepp3045546
window.ptcouncil.net<"productClickLinkData"> = <"name":"Ch2","id":"543064697","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;})}elsewindow.ptcouncil.net<"productClickLinkData"> = <"name":"Ch2","id":"543064697","price":"","category":"premium content","variant":"study guide","position":"","brand":"aepp3045546">; QLoad("ptcouncil.net.productClickLinkData"); return;;window.location.assign("https://ptcouncil.net/543064697/ch2-flash-cards/");" id="1-543064697">