Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November. Work in process, November 1 Direct material Conversion Costs incurred during November Direct material Conversion $ 68,200 176,000 The equivalent units of activity for November were as follows: 8,600 equivalent units of direct material and 2,200 equivalent units of conversion activity. Direct material Conversion $680,000 660,000 Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average process costing. Cost per Equivalent Unit

Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November. Work in process, November 1 Direct material Conversion Costs incurred during November Direct material Conversion $ 68,200 176,000 The equivalent units of activity for November were as follows: 8,600 equivalent units of direct material and 2,200 equivalent units of conversion activity. Direct material Conversion $680,000 660,000 Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average process costing. Cost per Equivalent Unit

Name: sanju Idaho Lumber Company grows, harvests, and processes timber for u
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Description: sanju Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmillduring November.Work in process, November 1Direct materialConversionCosts incurred during NovemberDirect materia

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PB: During March, the following costs were charged to the manufacturing department: $22,500 for...

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During March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.
The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units one-fourth completed at a cost of 2,500 for materials, 1,400 for labor, and 1,800 for overhead. Production costs for the monthmaterials, 130,000; labor, 70,000; and factory overhead, 82,000. Units completed and transferred to stock45,000. Work in process, end of month5,000 units, one-half completed. Compute the months unit cost for each element of manufacturing cost and the total per unit cost. (Round unit costs to three decimal places.)
daho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm’s sawmill during November. Work in process, November 1 Direct material $ 98,500 Conversion 165,500 Costs incurred during November Direct material $ 598,700 Conversion 657,000 The equivalent units of activity for November were as follows: 8,300 equivalent units of direct material and 2,350 equivalent units of conversion activity.Required:Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average process costing. Cost per Equivalent Unit Direct material Conversion
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm's sawmill during November. Work in process, November 1 Direct material Conversion Costs incurred during November Direct material Conversion $ 72,600 116,800 The equivalent units of activity for November were as follows: 7,700 equivalent units of direct material and 2,600 equivalent units of conversion activity. Direct material Conversion $528,000 879,000 Required: Calculate the cost per equivalent unit, for both direct material and conversion, during November. Use weighted-average process costing. Cost per Equivalent Unit
Uhtred Manufacturing had the following transactions in October: 1. Purchased raw materials on account, $57,100. 2. Used materials in production: $18,500 in the Mixing Department; $5,100 in the packaging Department; $800 in indirect materials. 3. Incurred labor costs: $9,000 in the Mixing Department; $3,960 in the Packaging Department; $2,140 in indirect labor. 4. Incurred manufacturing overhead costs: $8,850 in machinery depreciation; paid $3,750 for rent and paid for utilities at a cost of $1,690. Prepare the journal entries for Uhtred Manufacturing. Date 1 2 3 4 Description O O O O O O O C O Debit Credit 000 I
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