4. Prepare the Process Accounts showing the cost per unit at each stage of Production.. Particulars Process I Process II Raw Materials 5000 Units@ OMR 20 Per Unit Wages Direct Expenses Overheads Expenses Normal Loss Scrap value per unit Output 20,000 5,000 60% wages 10% OMR 3 4500 Units 30,000 7,500 40% wages 8% OMR 5 4250 Units Process III 40,000 10,000 30% wages 8% OMR 8 4000 Units

4. Prepare the Process Accounts showing the cost per unit at each stage of Production.. Particulars Process I Process II Raw Materials 5000 Units@ OMR 20 Per Unit Wages Direct Expenses Overheads Expenses Normal Loss Scrap value per unit Output 20,000 5,000 60% wages 10% OMR 3 4500 Units 30,000 7,500 40% wages 8% OMR 5 4250 Units Process III 40,000 10,000 30% wages 8% OMR 8 4000 Units

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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[The following information applies to the questions displayed below.) The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Percent Units Complete Percent Complete 35% Beginning work in process inventory Units started this period. 76,000 65% 402,000 Completed and transferred out 350,000 Ending work in process inventory 98,000 85% 35% Exercise 20-9 (Algo) Weighted average: Cost per equivalent unit; costs assigned to output and inventory LO P1 The production department had the cost information below. Beginning work in process inventory Direct materials 5.180,444 45,559 Conversion $ 226,003 Costs added this period, Direct materials Conversion 1,278,951 845,186 Total costs to account for 2.124,137 $2,350,140 a. Compute cost per equivalent unit for both direct materials and conversion. (Round "Cost per EUP" to 2 decimal places.) b. Using the weighted average method, assign April's costs to the department's output-specifically,…
A Cothing Manufacturing Company provides the following unit costs associated with one of its products: Direct materials. Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Operating costs Total $160 50 55 32 30 $327 What are the period costs per unit associated with the Product? O A $30 O B. $33 OC. $100 O D. $17
-S average costs per unit are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $7.10 $4.10 $ 1.60 $ 5.10 $ 3.60 $ 2.60 1. Total amount of product cost 2. Total amount of period cost incurred 3. Total amount of product cost 4. Total amount of period cost $ 1.10 $ 0.60 Exercise 1-8 (Algo) Product Costs and Period Costs; Variable and Fixed Costs [LO1-3, LO1-- Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 11,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 11,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 12,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 10,000 units? (For all…
Data table Units of D4H produced and sold 1. 2. Selling price 3. Direct materials (kilograms) 4. Direct material cost per kilogram 5. Manufacturing capacity (units of D4H) 6. Total conversion costs 7. 8. Selling and customer-service capacity 9. Total selling and customer-service costs 10. Selling and customer-service capacity cost per customer 11. Design staff 12. Total design costs 13. Design cost per employee Conversion cost per unit of capacity Alt+Q Print Done $ $ 210 41,000 $ 310,000 7.25 $ 250 2,125,000 $ 8,500 $ $ $ 2,150,000 8,600 95 customers 90 customers 900,000 10,000 12 1,045,000 $ 11,000 $ 12 1,212,000 $ 101,000 $ $ $ ZUZT $ $ ZUZZ 235 43,000 325,000 7.75 250 1,218,000 101,500 (similar to) Data table HW Score: 3.03%, 0.12 of 4 points Daint 0 10 of 1 Revenue effect of growth Cost effect of growth The company has chosen a product differentiation strategy. The growth, price- recovery, and productivity components of the change in operating income from 2021 to 2022 are as…
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost 500000 ? Total labor cost Manufacturing Overhead ? 400000 100000 90000 30000 ? Calculate: A. B. Calculate cost per unit B. Describe the production costs in the equation form Y = f+ vX. C. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month
3G IY:01 АВС.pdf > rcises 5-21 ABC, process costing. Parker Company produces mathematical and financial calculators and oper- ates at capacity. Data related to the two products are presented here: Mathematical Financial Annual production in units 50,000 S150,000 $ 50,000 2,500 25,000 50 100,000 $300,000 $100,000 5,000 50,000 Direct material costs Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Number of production runs Inspection hours 50 1,000 500 • CHAPTER 6 ACTIMITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT Total manufacturing overhead costs are as follows: Total Machining costs Setup costs Inspection costs $375,000 120,000 105,000 Required 1. Choose a cost driver for each overhead cost pool and calculate the manufacturing overhead cost per Acti unit for each product. Go to 2. Compute the manufacturing cost per unit for each product. .
Consider the below diagram showing production process of Company XYZ: Process A 1.25/hour Process B 2.75/hour Process C Process D 0.5/ minute 3.25/ hour What will be the rate of the production for the company? a) 1.25 per hour b) 3.25 per hour c) 7.75 per hour d) 30 per hour
For each of the following independent cases (A to E), compute the missing values in the table: Case B C D E Prime Conversion Cost Cost $ 9,450 $ 16,420 $ 56,200 110,700 49,250 Direct Materials 4,070 10,150 41,800 19,600 Direct Manufacturing Labor Overhead BIM $ 7,440 11,350 13,600 11,040 24,800 23,900 Total Manufacturing Cost 42,390 68,850 56,600
Question 5: The Information below is taken from production department of Salalah Company for April: The number of units produced is 10000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost 500000 Direct material cost Total labor cost Manufacturing Overhead 90000 400000 100000 30000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y =f+vX. D. Assume Salalah intends to produce 10000 units next month. Calculate total production costs for the month Question 6: Find the missing information for different companies Output (units) Fixed Costs Variable Costs Total Costs Cost per unit Company A Company B 4000 70000 50000 ? 5000 80000 140000 Company C 130000 8000 30000 Company D 80000 100000 20
Required information [The following information applies to the questions displayed below.] Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Beginning work in process inventory. Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Cost assignment-Weighted average Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for Units EUP 72,000 882,000 775,000 179,000 $ 558,090 84,660 3,734,910 1,608,540 Direct Materials Percent Complete 100% 3. Assign costs to the department's output-specifically, to the units…
2Given the following data, calculate the total product cost per unit under variable costing. Direct labor S3.50 per unit Direct materials S1.25 per unit Overhead Total variable overhead $41,400 Total fixed overhead $150,000 Expected units to be produced 18,000 units a.$4.75 per unit b.S7.05 per unit C.$15.38 per unit d.$13.08 per unit e.$16 per unit
Question 5: The Information below is taken from production department of Salalah Company for August: The number of units produced is 20000. All amounts are in OMR. Total Costs Variable Cost Fixed Cost Direct material cost Total labor cost 800000 500000 110000 Manufacturing Overhead 100000 40000 Calculate: A. Find the missing information in the above table. Some values may not be applicable, explain. B. Calculate cost per unit C. Describe the production costs in the equation form Y = f+ yvX. D. Assume Salalah intends to produce 30000 units next month. Calculate total production costs for the month (Ctrl) -