Chapter 16.docx - Chapter 16(e.g Problem 16-3A Physical...

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Chapter 16: (e.g. Problem 16-3A)Physical unitsEquivalent units for materials and conversion costsCost per equivalents unit for materials and conversion costsCosts transferred out of a production departmentCosts remaining in ending inventory of a production departmentProcess costing journal entries (assignment of costs to multiple work in process inventory accounts)+Process and job order operations are similar in that both:are used to determine the cost per unit of product or service.combine materials, labor, and overhead in producing products.+Department X started 550 units during the accounting period, completed and transferred out 500 units and had an ending balance of 200 units.150, Correct Unavailableunits were in beginning goods in process inventory for the department.+Department A completed and transferred to finished goods a total of 60,000 units.Their ending inventory consisted of 40,000 units which were 80% complete with respect to direct materials and 30% complete with respect to conversion cost. The cost per EUP for direct materials is $4.00 and for conversion is $3.50. The cost of ending work in process inventory is $170,000+ Department 1 completed and transferred out 450 units and had ending work in process inventory of 60 units. The ending inventory is 20% complete for materials and 60% complete for labor and overhead. The equivalent units of production for labor and overhead is 486 units+Department D had materials costs of $10,000 in beginning work in process inventory and added an additional $50,000 in materials costs this period. If the department had 20,000 EUP for materials, the cost per equivalent unit of productionis $3+A department begins the month with 100 units at a cost of $7,500 in work in process. An additional 1,000 units are started during the month and additional costsincurred are $12,500. At the end of the month, there are 200 units still in process which are 50% complete. The ending balance in Work in Process Inventory is $2,000

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