3-7 The balance in beginning Work in Process at Bing Rubber Company for direct l
ID: 2667565 • Letter: 3
Question
3-7
The balance in beginning Work in Process at Bing Rubber Company for direct labor was $151,500. During the month of March, an additional $852,900 of direct labor was incurred, and 31,200 pounds of rubber were produced. At the end of March, 12,000 pounds of rubber were in process and the units were 50 percent complete. At the start of March, the company had 6,520 pounds of rubber that were 40 percent complete.
Calculate the cost per equivalent unit for labor assuming that labor is added uniformly throughout the production process.
$ ______________ per pound
3-9
McMillian Tire Company produces tires used on small trailers. The month of June ended with 500 tires in process, 90 percent complete as to direct materials, and 50 percent complete as to conversion costs; 3,400 tires were transferred to finished goods during the month, and 2,800 were started during the month. The beginning Work in Process inventory was 60 percent complete as to direct materials and 40 percent complete as to conversion costs.
Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.
Material = $___________
Labor = $ ___________
3-1 Comprehensive Problem, One Department [LO 3, 4]
Regal Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 10,300 units in process that were 100 percent complete with respect to direct material and 60 percent complete with respect to conversion costs (labor and overhead). During the month, the company began production of 106,600 units. Ending Work in Process Inventory consisted of 6,100 units that were 100 percent complete with respect to material and 70 percent complete with respect to conversion costs.
Cost Information Beginning Work in Process Costs Added in May
Direct material $4,270 $81,067
Direct labor 260 15,850
Manufacturing overhead 310 13,498
Total $4,840 $110,415
Calculate the cost per equivalent unit for each of the three cost items and in total. (Round answers to 2 decimal places, e.g. 5.25.)
Cost per EU
Material = $ _______________
Labor = _________________
Overhead = ________________
Total $ = ________________
Calculate the cost of items completed in May and the cost of ending Work in Process. (Round computations and final answers to 0 decimal places, e.g. 5,250.)
Cost of items completed in May = $ _______________
Cost of items in ending work in process = $ _______________
Explanation / Answer
.3-7
The balance in beginning Work in Process at Bing Rubber Company for direct labor was $151,500. During the month of March, an additional $852,900 of direct labor was incurred, and 31,200 pounds of rubber were produced. At the end of March, 12,000 pounds of rubber were in process and the units were 50 percent complete. At the start of March, the company had 6,520 pounds of rubber that were 40 percent complete.
Calculate the cost per equivalent unit for labor assuming that labor is added uniformly throughout the production process.
answer : 31.66 per pounds
3-9
McMillian Tire Company produces tires used on small trailers. The month of June ended with 500 tires in process, 90 percent complete as to direct materials, and 50 percent complete as to conversion costs; 3,400 tires were transferred to finished goods during the month, and 2,800 were started during the month. The beginning Work in Process inventory was 60 percent complete as to direct materials and 40 percent complete as to conversion costs.
Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.
Material = 3850 units
Labor =3650
3-1 Comprehensive Problem, One Department [LO 3, 4]
Regal Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 10,300 units in process that were 100 percent complete with respect to direct material and 60 percent complete with respect to conversion costs (labor and overhead). During the month, the company began production of 106,600 units. Ending Work in Process Inventory consisted of 6,100 units that were 100 percent complete with respect to material and 70 percent complete with respect to conversion costs.
Cost Information Beginning Work in Process Costs Added in May
Direct material $4,270 $81,067
Direct labor 260 15,850
Manufacturing overhead 310 13,498
Total $4,840 $110,415
Calculate the cost per equivalent unit for each of the three cost items and in total. (Round answers to 2 decimal places, e.g. 5.25.)
Cost per EU
Material = $ o.73
Labor = o.14
Overhead = 0.12
Total $ = 0.99
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