rmathxl.com Do H ACG 2071 Fall 2017 jennifer sanchez Homework: Ch.7 Process Cost
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rmathxl.com Do H ACG 2071 Fall 2017 jennifer sanchez Homework: Ch.7 Process Cost 11/3/17 10:51 PM Score: 0.09 of 1 pt 4015(5 complete) E5-27A (similar to) Hw score:51.68%, 2.58 of 5 pts Question Help Color World prepares and of the blending process (dyes) and at the end of the paint products. The company has two departments:(1) Blending and (2) Packaging. Direct materials are added at the beginning packaging process (cans). Conversion costs are added evenly throughout each process. Data from the month of are as follows costs are added (Click the icon to view the data from May ) t 2. Summarize the physical flow of units and compute total equivalent units for direct materials and for conversion costs. (For entries with a 0 balance, make sure to enter "O in the appropriate column.) Blending Department Equivalent Unit Computation Flow of Physical Units Equivalent Units Direct Conversion Flow of Production Costs Units to account for Choose from any list or enter any number in the input fields and then click Check Answer. 5 Clear AllExplanation / Answer
2 Units Beginning Inventory 0 Started Production 9700 Total 9700 Produced and transferred 6800 Ending inventory 2900 9700 Calculation of equivalent units Material Conversion Total % Eq.units % Eq.units Started and finished 6800 100% 6800 100% 6800 Ending inventory 2900 100% 2900 30% 870 Equivalent units 9700 7670 3 Cost incured in the process 5820 2301 Cost per equivalent units 0.60 0.30 4 (a) Value of finished goods Equivalent units of finished goods 6800 6800 Cost per equivalent units 0.60 0.30 Cost allocated to finished goods 4080 2040 Value of finished goods(4080+2040) $6,120.00 4 (b) Value of ending inventory Equivalent units of ending inventory 2900 870 Cost per equivalent units 0.60 0.30 Cost allocated to ending inventory 1740 261 Value of ending inventory(1740+261) $2,001.00 5. Average cost per gallon transferred to packing department = 6,120/ 6800 = $0.90
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