Homework: Week #3 Chapter #5 score: 0 of 1 pt E20-19 (similar to) Save 3 of 6 (3
ID: 2329626 • Letter: H
Question
Homework: Week #3 Chapter #5 score: 0 of 1 pt E20-19 (similar to) Save 3 of 6 (3 complete) HW Score: 50%, 3 of 6 pts Question Help es and packages paint products. Color Explosion has two departments: Blending and Packaging. Direct materials are added at the begining of Color Explosion prepare ebleng process (dyes) and at the end of the packaging process (cans), Conversion costs are a dded evenly throughout each process. Data from the month of May for the Blending Department are as follows: EEE (Click the icon to view the data from May) Read the requirements Requirement 1. Compute the Blending Department's equivalent units of production for direct materials and for conversion costs. (Complete all answer boxes, Enter a "0" for any zero balances.) Color Explosion Production Cost Report- Blending Department (Partial) Month Ended May 31 Equivalent Units Whole Transferred Direct Conversion Units In Materials Costs UNITS Units to account for Beginning work-in-process Started in production 9900 Total units to account for Units accounted for 5800 n/a n/a Completed and transferred out 4100a4100 Ending work-n-process 9900 n/a Total units accounted forExplanation / Answer
Answer
EQUIVALENT UNITS
Whole Units
Transferred In
Direct material
Conversion Cost
UNITS
Units to account for:
Beginning Work in Process
-
Started In Production
9,900
Total Units to account for
9,900
Units accounted for:
Completed & Transferred out
5,800
n/a
5,800 [5800 x 100%]
5,800 [5800 x 100%]
Ending Work in Process
4,100
n/a
4,100 [4100 x 100%]
1,230 [4100 x 30%]
Total Units accounted for
9,900
n/a
9,900
7,030
Working
Transferred In
Direct material
Conversion Cost
A
Cost added during May
$ -
$ 4,950.00
$ 2,812.00
B
Equivalent Units
n/a
9,900
7,030
C = A/B
Cost per Equivalent Units
n/a
$ 0.50
$ 0.40
---Part ‘a’: Cost of units completed and Transferred out
A.Material cost = Equivalent units for material x Cost per Equivalent units for material.
Material cost = 5800 units x $ 0.50 = $ 2,900
B.Conversion cost = Equivalent units for conversion cost x Cost per Equivalent units for conversion cost.
Conversion Cost = 5800 units x $ 0.40 = $ 2,320
Answer ‘a’: Cost of units completed and Transferred out = A + B = $ 2900 + $ 2320 = $ 5,220
---Part ‘b’: Cost of Ending Work In Process inventory
A.Material cost = Equivalent units for material x Cost per Equivalent units for material.
Material cost = 4100 units x $ 0.50 = $ 2,050
B.Conversion cost = Equivalent units for conversion cost x Cost per Equivalent units for conversion cost.
Conversion Cost = 1230 units x $ 0.40 = $ 492
Answer ‘b’: Cost of Ending Work In Process inventory = A + B = $ 2050 + $ 492 = $ 2,542
EQUIVALENT UNITS
Whole Units
Transferred In
Direct material
Conversion Cost
UNITS
Units to account for:
Beginning Work in Process
-
Started In Production
9,900
Total Units to account for
9,900
Units accounted for:
Completed & Transferred out
5,800
n/a
5,800 [5800 x 100%]
5,800 [5800 x 100%]
Ending Work in Process
4,100
n/a
4,100 [4100 x 100%]
1,230 [4100 x 30%]
Total Units accounted for
9,900
n/a
9,900
7,030
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