Hiii Case III. Xichaoma Pharma produces a vial as a treatment of COVID-19 disease which theycalled X-Cov-Plus. The company added all the chemicals in producing the product at thebeginning of its mixing department. Conversion costs flow uniformly throughout the process.The next processes of mixing are Tabulating and Packaging. Information on the mixingoperation for the month of July is as follows:Work in Process - Mixing DepartmentJuly 1 balance (100,000 units, 40% Completed and transferred to Tabulating:complete for conversion costs) P151,760.00Units: ?Cost: ?Direct materials added (1,000,000 units)P1,310,000Direct labor cost P200,000FOH (applied at 180% of DL) P396,000July 31 balance (200,000 units, 70% complete for conversion costs): ?The July 1 balance consist of the following cost elements:Direct materials - P128,000; Direct labor - P8,800; and FOH - P14,960Requirements:1. Using FIFO method, compute the cost of completed and transferred to Tabulatingdepartment.2. Using weighted average method, compute the cost of completed and transferred toTabulating department.

2. Cost of Completed and Transferred Units using Weighted Average MethodStep 1: Calculate the…

Answered: Case III. Xichaoma Pharma produces a…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 16E: Chavez Concrete Inc. has two production departments. Blending had 1,000 units in process at the...

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Use the following information for Brief Exercises 6-29 and 6-30: Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: 6-29 (Appendix 6A) First-In, First-Out Method; Equivalent Units Refer to the information for Aztec Inc. on the previous page. Required: 1. Calculate the equivalent units for July. 2. Calculate the unit cost. (Note: Round to two decimal places.) 3. Assign costs to units transferred out and EWIP using the FIFO method.
Chavez Concrete Inc. has two production departments. Blending had 1,000 units in process at the beginning of the period, two-fifths complete. During the period 7,800 units were received from Mixing, 8,200 units were transferred to the finished goods storeroom, and 600 units were in process at the end of the period, 1/3 complete. The cost of the beginning work in process was: The costs during the month were: 1. Using the data in E5-15, prepare a cost of production summary for the month ended January 31, 2016. 2. Prepare a journal entry to transfer the cost of the completed units from Blending to the finished goods storeroom.
Proteger Company manufactures insect repellant lotion. The Mixing Department, the first process department, mixes the chemicals required for the repellant. The following data are for the current year: Direct materials are added at the beginning of the process. Ending inventory is 95 percent complete with respect to direct labor and overhead. The cost of goods transferred out for the year is: a. 4,471,200 b. 3,571,200 c. 3,780,000 d. 3,024,000
Eyring Manufacturing produces a component used in its production of washing machines. The time to set up and produce a batch of the components is two days. The average daily usage is 800 components, and the maximum daily usage is 875 components. Required: Compute the reorder point assuming that safety stock is carried by Eyring Manufacturing. How much safety stock is carried by Eyring?
Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: With respect to conversion costs. Required: 1. Prepare a physical flow schedule for July. 2. Prepare an equivalent units schedule for July using the FIFO method. 3. What if 60 percent of the materials were added at the beginning of the process and 40 percent were added at the end of the process (all ingredients used are treated as the same type or category of materials)? How many equivalent units of materials would there be?
Use the following information for Brief Exercises 6-29 and 6-30: Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: 6-30 (Appendix 6A) FIFO; Production Report Refer to the information for Aztec Inc. on the previous page. Required: Prepare a production report.
Dormir produces a liquid herbal sleep remedy. Production begins in the Blending Department. All materials are added at the beginning of the blending process. Output is measured in ounces. The production data for June are as follows:Production:Units in process, June 1, 70% complete*6,000Units completed and transferred out36,000Units in process, June 30, 40% complete*12,000* With respect to conversion cost Complete the physical flow schedule given below. There are a number of useful relationships. For example, Units Started and Completed = Units Completed ‒ Units in BWIP and Units Started = Units Completed ‒ Units in EWIP Units to Account for: Units in BWIP Units started Total units to account for Units accounted for: Units Completed: From: BWIP Started and completed Units in BWIP Total units accounted for Prepare the Equivalent Unit Schedules for FIFO and Weighted Average by completing the Table below. Since inputs are…
The Mixing Department of It Was Fresh Bakery had 50,500 units to account for in October. Of the 50,500 units, 40,400 units were completed and and transferred to the next department, and 10,100 units were 35% complete. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the mixing process.(Round your answers to two decimal places when needed and use rounded answers for all future calculations).1. Compute the total equivalent units of production for direct materials and conversion costs for October. Direct Materials # of units X % completed = EUP Started and Completed X = Work-in-Process X = Total EUP = Conversion Costs # of units X % completed = EUP Started and Completed X = Work-in-Process X = Total EUP = The Mixing Department for It Was Fresh Bakery has direct materials costs totaling $49,100 and conversions cost of $29,300 for October.2. Compute the cost per…
The Mixing Department of It Was Fresh Bakery had 50,500 units to account for in October. Of the 50,500 units, 41,200 units were completed and and transferred to the next department, and 9,300 units were 40% complete. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the mixing process. (Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Compute the total equivalent units of production for direct materials and conversion costs for October. Direct Materials # of units X Started and Completed Work-in-Process Conversion Costs # of units X Started and Completed X Work-in-Process X Total Direct Materials Total conversion costs X X 1 / % completed = EUP / Total EUP % completed Total EUP The Mixing Department for It Was Fresh Bakery has direct materials costs totaling $49,900 and conversions cost of $27,600 for October. 2. Compute the cost per equivalent unit of production for…
Stone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 55,000 61% Ending work in process 36,000 71 Stone adds all materials at the beginning of its manufacturing process. During the month, it started 96,000 units.Required:1. Using the weighted-average method, reconcile the number of physical units.2. Using the weighted-average method, calculate the number of equivalent units.
The Mixing Department of It Was Fresh Bakery had 50,500 units to account for in October. Of the 50,500 units, 40,400 units were completed and and transferred to the next department, and 10,100 units were 35% complete. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the mixing process.(Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Compute the total equivalent units of production for direct materials and conversion costs for October. The Mixing Department for It Was Fresh Bakery has direct materials costs totaling $49,100 and conversions cost of $29,300 for October.2. Compute the cost per equivalent unit of production for direct materials and for conversion costs.
Myers Treats makes institutional cakes. Finished cakes must pass through 2 departments: Mixing and Baking. Cake batter is processes in Mixing dept and transferred to Baking dept. There were 500 gallons of partially mixed batter in the Mixing Dept inventory on Aug 1. The batter was 100% complete with respect to direct materials but only 30% with respect to conversion. Manufacturing costs assigned to the inventory carried over from July totaled $1800. During August, mixing dept started 11,500 new gallons of batter. August direct materials cost in the mixing dept totaled $34, 500 and conversion costs totaled $22,800. Ending inventory on Aug 31 consisted of 600 partially mixed batter. These units were 100% complete with respect to direct materials and 25% complete with respect to conversion. a. Make a schedule showing (1) gallons of mix transferred from mixing to baking in august and (2) gallons of mix started and completed by the mixing dept in August b. Compute the equivalent units of…

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