Answer ALL 5 parts of this question- Show your work! Widget Wonders m (1).pdf
Answer ALL 5 parts of this question. Show your work! Widget Wonders makes widgets. The company uses process costing. They have one process - assembly. 1. The beginning work in process inventory was 1,000 units. During the period, Widget started into production an additional 5,000 units. Calculate "Total Units to Account For." 2. 4,000 units were completed during the period and transferred to Finished Goods Inventory. How many units remain in Ending Work in Process Inventory? 3. The production chief estimates that the units in Ending Work in Process Inventory as 50% complete as to conversion costs, and 100% complete as to materials. Calculate Total Equivalent Units as to both materials and conversion costs for the period? 4. Materials costs in beginning Work in Process Inventory were $1,000. Conversion costs in beginning Work in Process inventory were $2,000. Costs incurred during the period were $5,000 for Materials and $13,000 for conversion costs. Calculate Cost per Equivalent Unit, showing Materials Cost/Unit, Conversion Cost/Unit, and Total Cost/Unit? 5. What is the value of Ending Work in Process Inventory? (hint: Show Materials, Conversion Costs, and Total calculations.) (Another big hint: Number your answers so I can follow your work!).
Answer ALL 5 parts of this question- Show your work! Widget Wonders m (1).pdf
Answer ALL 5 parts of this question. Show your work! Widget Wonders makes widgets. The company uses process costing. They have one process - assembly. 1. The beginning work in process inventory was 1,000 units. During the period, Widget started into production an additional 5,000 units. Calculate "Total Units to Account For." 2. 4,000 units were completed during the period and transferred to Finished Goods Inventory. How many units remain in Ending Work in Process Inventory? 3. The production chief estimates that the units in Ending Work in Process Inventory as 50% complete as to conversion costs, and 100% complete as to materials. Calculate Total Equivalent Units as to both materials and conversion costs for the period? 4. Materials costs in beginning Work in Process Inventory were $1,000. Conversion costs in beginning Work in Process inventory were $2,000. Costs incurred during the period were $5,000 for Materials and $13,000 for conversion costs. Calculate Cost per Equivalent Unit, showing Materials Cost/Unit, Conversion Cost/Unit, and Total Cost/Unit? 5. What is the value of Ending Work in Process Inventory? (hint: Show Materials, Conversion Costs, and Total calculations.) (Another big hint: Number your answers so I can follow your work!).
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Answer ALL 5 parts of this question- Show your work! Widget Wonders m (1).pdf
- 1. Answer ALL 5 parts of this question. Show your work! Widget Wonders makes widgets. The company uses process costing. They have one process - assembly. 1. The beginning work in process inventory was 1,000 units. During the period, Widget started into production an additional 5,000 units. Calculate "Total Units to Account For." 2. 4,000 units were completed during the period and transferred to Finished Goods Inventory. How many units remain in Ending Work in Process Inventory? 3. The production chief estimates that the units in Ending Work in Process Inventory as 50% complete as to conversion costs, and 100% complete as to materials. Calculate Total Equivalent Units as to both materials and conversion costs for the period? 4. Materials costs in beginning Work in Process Inventory were $1,000. Conversion costs in beginning Work in Process inventory were $2,000. Costs incurred during the period were $5,000 for Materials and $13,000 for conversion costs. Calculate Cost per Equivalent Unit, showing Materials Cost/Unit, Conversion Cost/Unit, and Total Cost/Unit? 5. What is the value of Ending Work in Process Inventory? (hint: Show Materials, Conversion Costs, and Total calculations.) (Another big hint: Number your answers so I can follow your work!)