Chapter 20

Chapter 20 - 37 PRACTICE EXERCISES PE 20–1A Aluminum...

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Unformatted text preview: 37 PRACTICE EXERCISES PE 20–1A Aluminum production Process Gasoline refining Process Movie studio Job order Papermaking Process Print shop Job order Web designer Job order PE 20–2A 513,000 ounces started and completed (545,000 ounces completed – 32,000 ounces beginning WIP), or (532,000 ounces started – 19,000 ounces ending WIP) PE 20–3A Percent Total Materials Equivalent Whole Added in Units for Units Period Materials Inventory in process, beginning of period.... 32,000 0% 0 Started and completed during the period ..... 513,000 * 100% 513,000 Transferred out of Filling (completed)........... 545,000 — 513,000 Inventory in process, end of period............... 19,000 100% 19,000 Total units to be assigned costs.................... 564,000 532,000 *(545,000 – 32,000) PE 20–4A Percent Equivalent Total Conversion Units Whole Completed in for Units Period Conversion Inventory in process, beginning of period.... 32,000 60% 19,200 Started and completed during the period ..... 513,000 * 100% 513,000 Transferred out of Filling (completed)........... 545,000 — 532,200 Inventory in process, end of period............... 19,000 75% 14,250 Total units to be assigned costs.................... 564,000 546,450 *(545,000 – 32,000) 38 PE 20–5A Equivalent units of direct materials: 000 , 532 240 , 170 $ = $0.32 per ounce Equivalent units of conversion: 450 , 546 432 , 87 $ = $0.16 per ounce PE 20–6A Direct Materials Conversion Total Costs Costs Costs Inventory in process, balance ...................... $ 12,500 Inventory in process, beginning of period .. 0 + 19,200 × $0.16 3,072 Started and completed during the period.... 513,000 × $0.32 + 513,000 × $0.16 246,240 Transferred out of Filling (completed)......... $261,812 Inventory in process, end of period............. 19,000 × $0.32 + 14,250 × $0.16 8,360 Total costs assigned by the Filling Dept. .... $270,172 Completed and transferred-out production...... $261,812 Inventory in process, ending............................. $8,360 PE 20–7A a. Work in Process—Filling............................................. 170,240 Work in Process—Blending................................... 50,100 Materials .................................................................. 120,140 Work in Process—Filling............................................. 87,432 Factory Overhead—Filling ..................................... 35,432 Wages Payable........................................................ 52,000 Finished Goods............................................................ 261,812 Work in Process—Filling........................................ 261,812 b. $8,360 ($12,500 + $170,240 + $87,432 – $261,812) 39 PE 20–8A Material cost per ton, July: 400 000 , 88 $ = $220 Material cost per ton, August: 350 500 , 80 $ = $230 The cost of materials has appeared to increase by $10 per ton between July and August. 40 EXERCISES Ex. 20–1 a. Work in Process—Blending Department..................... Work in Process—Blending Department....
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Chapter 20 - 37 PRACTICE EXERCISES PE 20–1A Aluminum...

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