Refer to QS 20-4. Determine the total equivalent units of production with respect to conversion for March using the FIFO method.

Explain in simple terms the notion of equivalent units of production (EUP). Why is it necessary to use EUP in process costing? Explain your answer.

Refer to the information in Problem 20-4B. Assume that Switch uses the FIFO method to account for its process costing system. The following additional information is available below.

• Beginning work in process consists of 10,000 units that were 75% complete with respect to direct materials and 60% complete with respect to conversion.
• Of the 220,000 units completed, 10,000 were from beginning work in process; the remaining 210,000 were units started and completed during January.

Required
1. Prepare the company's process cost summary for January using FIFO. Round cost per EUP to three decimal places.
2. Prepare the journal entry dated January 31 to transfer the cost of completed units to finished goods inventory.

Refer to the data in Problem 20-4A. Assume that Tamar uses the FIFO method to account for its process costing system. The following additional information is available below:

• Beginning work in process consisted of 3,000 units that were 100% complete with respect to direct materials and 40% complete with respect to conversion.
• Of the 22,200 units completed, 3,000 were from beginning work in process. The remaining 19,200 were units started and completed during May.

Required
1. Prepare the company's process cost summary for May using FIFO.
2. Prepare the journal entry dated May 31 to transfer the cost of completed units to finished goods inventory.

which of the following organisms are capable of cellular respiration?

A process’s beginning work in process inventory consists of 10,000 units that are 20% complete with respect to conversion costs. A total of 40,000 units are completed this period. There are 15,000 units in work in process, one-third complete for conversion, at period-end.

Assume that beginning work in process had $6,000 in conversion cost and that$84,000 in conversion is added during this period. What is the cost per EUP for conversion?

a. $0.50 per EUP

b.$1.87 per EUP

c. $2.00 per EUP

d.$2.10 per EUP

e. $2.25 per EUP

Refer to QS 20-4. Determine the total equivalent units of production with respect to conversion for March using the weighted average method.

Identify the control document for materials flow when a materials requisition slip is not used. Explain your answer.

A production department in a process manufacturing system completed its work on 80,000 units of product and transferred them to the next department during a recent period. Of these units, 24,000 were in process at the beginning of the period. The other 56,000 units were started and completed during the period. At period-end, 16,000 units were in process. Compute the production department’s equivalent units of production for directmaterials under each of three separate assumptions using the weighted-average method:

Complete the requirements for each of the three separate assumptions using the FIFO method for process costing.

A production department in a process manufacturing system completed its work on 80,000 units of product and transferred them to the next department during a recent period. Of these units, 24,000 were in process at the beginning of the period. The other 56,000 units were started and completed during the period. At period-end, 16,000 units were in process. Compute the production department’s equivalent units of production for directmaterials under each of three separate assumptions using the weighted-average method:

1. All direct materials are added to products when processing begins.

2. Beginning inventory is 40% complete as to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs.

3. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending inventory is 30% complete as to materials and 60% complete as to conversion costs.

Given the following selected account balances of Delray Mfg., prepare an income statement for Delray Mfg. (a manufacturer). Assume that its cost of goods manufactured is $534,390.

Sales . . . . . . . . . . . . . . . . . . . . . . .$1,250,000
Raw materials inventory, beginning . . . . . . . . . . . 37,000
Work in process inventory, beginning . . . . . . . . . . 53,900
Finished goods inventory, beginning . . . . . . . . . .  62,750
Raw materials purchases . . . . . . . . . . . . . . . . 175,600
Direct labor . . . . . . . . . . . . . . . . . . . . .  225,000
Factory supplies used (indirect materials) . . . . . . . 17,840
Indirect labor . . . . . . . . . . . . . . . . . . . . . 47,000
Repairs—Factory equipment . . . . . . . . . . . . . . . . 5,250
Rent cost of factory building . . . . . . . . . . . . .  57,000
Advertising expense . . . . . . . . . . . . . . . . . .  94,000
General and administrative expenses . . . . . . . . . . 129,300
Raw materials inventory, ending . . . . . . . . . . . .  42,700
Work in process inventory, ending . . . . . . . . . . .  41,500
Finished goods inventory, ending . . . . . . . . . . . . 67,300

Prepare the 2017 schedule of cost of goods manufactured for Barton Company using the following information.

$$\begin{matrix} \text{Direct materials} \ldots\ldots\ldots & \text{\$190,500}\\ \text{Direct labor} \ldots\ldots\ldots & \text{63,150}\\ \text{Factory overhead costs} \ldots\ldots\ldots & \text{24,000}\\ \text{Work in process, Dec. 31, 2016} \ldots\ldots\ldots & \text{157,600}\\ \text{Work in process, Dec. 31, 2017} \ldots\ldots\ldots & \text{142,750}\\ \end{matrix}$$

The information below refers to units processed in Sunflower Printing's binding department in March. Prepare a physical flow reconciliation.

You hire a new assistant production manager whose prior experience is with a company that produced goods to order. Your company engages in continuous production of homogeneous products that go through various production processes. Your new assistant e-mails you questioning some cost classifications on an internal report—specifically why the costs of some materials that do not actually become part of the finished product, including some labor costs not directly associated with producing the product, are classified as direct costs. Respond to this concern via memorandum.