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...

• Notes
• 19
• 60% (5) 3 out of 5 people found this document helpful

This preview shows page 1 - 6 out of 19 pages.

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.
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.
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.)
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.)