avalt Corporation uses the weighted-average method in itsprocess costing system. The Molding Department is the seconddepartment in its production process. The data below summarize thedepartment's operations in January.
Units PercentComplete with Respect to Conversion Beginning work inprocess inventory 4,900 84% Transferred in fromthe prior department during January 58,200 Completed andtransferred to the next department during January 56,100 Ending work inprocess inventory 7,000 75%
The Molding Department's cost per equivalent unit for conversioncost for January was $8.80. How much conversion cost was assignedto the ending work in process inventory in the Molding Departmentfor January? (Round your final answer to nearest wholedollar.)
avalt Corporation uses the weighted-average method in itsprocess costing system. The Molding Department is the seconddepartment in its production process. The data below summarize thedepartment's operations in January. |
| Units | PercentComplete with Respect to Conversion | |
| Beginning work inprocess inventory | 4,900 | 84% |
| Transferred in fromthe prior department during January | 58,200 | |
| Completed andtransferred to the next department during January | 56,100 | |
| Ending work inprocess inventory | 7,000 | 75% |
The Molding Department's cost per equivalent unit for conversioncost for January was $8.80. How much conversion cost was assignedto the ending work in process inventory in the Molding Departmentfor January? (Round your final answer to nearest wholedollar.) |
Related questions
| Percent Complete with | |||
| Units | Respect to Conversion | ||
| Beginning work in process inventory | â¦â¦.. | 3,800 | 90% |
| Transferred in from the prior department during January | â¦â¦.. | 53,000 | |
| Completed and transferred to the next department during January | â¦â¦.. | 51,300 | |
| Ending work in process inventory | â¦â¦.. | 5,500 | 30% |
Parmentier Company uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data above summarize the department's operations in January.
The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $5,096 and a total of $87,668 in conversion costs were incurred in the department during January.
What was the cost per equivalent unit for conversion costs for January in the Molding Department? (Round off to three decimal places.):
| a. | $1.654 | |
| b. | $1.752 | |
| c. | $1.490 | |
| d. | $1.499 |
Data concerning a recent periodâs activity in the PrepDepartment, the first processing department in a company that usesprocess costing, appear below: Materials Conversion Equivalentunits of production in ending work in process 2,070 830 Cost perequivalent unit $14.56 $4.73 A total of 21,200 units were completedand transferred to the next processing department during theperiod. Required: Compute the cost of the units transferred to thenext department during the period and the cost of ending work inprocess inventory. (Round your final answers to the nearest wholedollar amount.)
Cost of ending work in process inventory: Materials???Conversion??? Total??
Cost of units transferred out Materials??? Conversion???Total???
Maria Am Corporation uses a process costing system. The BakingDepartment is one of the processing departments in its strudelmanufacturing facility. In June in the Baking Department, the costof beginning work in process inventory was $4,860, the cost ofending work in process inventory was $1,110, and the cost added toproduction was $25,100. |
| Required: |
Prepare a cost reconciliation report for the Baking Departmentfor June. |
