chapter 8 homework.docx - 1 Clean Corporation manufactures liquid window cleaner The following information concerns its work in process Beginning

chapter 8 homework.docx - 1 Clean Corporation manufactures...

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1.Clean Corporation manufactures liquid window cleaner. The following information concerns its work in process:• Beginning inventory, 44,700 partially complete gallons.• Transferred out, 211,200 gallons.• Ending inventory (materials are 20 percent complete; conversion costs are 11 percent complete).• Started this month, 237,100 gallons.Required:(a)Compute the equivalent units for materials using the weighted-average method.(b)Compute the equivalent units for conversion costs using the weighted-average method.
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2.Bears, Inc., adds materials at the beginning of the process in Department MO. The following information on physical units for Department MO for the month of July is available:Work in process, July 1 (57% complete with respect to conversion)17,000Started in July121,300 Completed121,300 Work in process, July 30 (71% complete with respect to conversion)17,000 Required:(a)Compute the equivalent units for materials costs and for conversion costs using the weighted-averagemethod.(b)Compute the equivalent units for materials costs and for conversion costs using the FIFO method.
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3.The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day:Beginning WIP inventoryDirect materials$ 1,884 Conversion costs560 Current period costsDirect materials22,320 Conversion costs13,442 Quantity information is obtained from the manufacturing records and includes the following:Beginning inventory640 units (60% complete as to materials,53% complete as to conversion)Current period units started4,000 unitsEnding inventory1,100 units (40% complete as to materials,30% complete as to conversion)Required:Compute the cost per equivalent unit for direct materials and conversion costs using the weighted-average method. (Round your answers to 2 decimal places.)
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4.The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day:Beginning WIP inventoryDirect materials$ 1,943 Conversion costs547 Current period costsDirect materials22,500 Conversion costs13,200 Quantity information is obtained from the manufacturing records and includes the following:Beginning inventory630 units (62% complete as to materials,52% complete as to conversion)Current period units started4,000 unitsEnding inventory1,200 units (39% complete as to materials,21% complete as to conversion)Required:Compute the cost of goods transferred out and the ending inventory using the weighted-average method. (Do not round your intermediate calculations. Round your final answers to nearest whole dollar value.)
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