.. CengageNow I Online teachi × e The Inventory At April 1, 2012 × Chegg Study l

Question

.. CengageNow I Online teachi × e The Inventory At April 1, 2012 × Chegg Study l Guided Solutio × e 1: CengageNow I Online Teac x Lin sjc.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?takeAssignmentSessionLocatorassignment-take Questions 13, 14. 15. 16. O e Problem 20-00S The inventory at April 1, 2012, and the costs charged to work in Process-Department B during April for Hawk Company are as follows: 500 units, 60% completed From Department A, 10,000 units Direct labor 3,460 36,300 7,960 12,500 18. OFactory overhead During April, all direct materials are transferred from Department A, the units in process at April 1 were completed, and of the 10,000 units entering the department, all were completed except 1,200 units which were 25% completed as to conversion costs. Inventories are costed by the first-in, first-out method. Hide Prepare a cost of production report for April. If required, round your cost per equivalent unit amounts to two decimal places. Round all other amounts to the nearest dollar. If an amount value is zero enter "0 as answer Hawk Company Cost of Production Report-DepartmentEB For the Month Ended April 30, 2012 Units charged to production: Inventory in process, April 1 Received from Department A Total units accounted for by Dept. B 500 10000 10500 Units to be assigned cost:

Explanation / Answer

Cost production report Flow Of Units Physical Units Direct Material A Conversion cost Units to be accounted for Beginning work in process inventory 500 Received from Department A 10000 Total u nits to be accounted for    10500 Units accounnted for: Transferred out from units of opening WIP 500 Units started and completed this period 8800 Completed and transferred out (b) 9300 Ending work in progress inventory© 1200 Total units to be accounted for (f)      10500 Calculation of equivalent units Units in Beginning WIP n 500 500 500 % of completion of Beginning WIP in last period    100% 60% % of completion of Beginning WIP completed in current period m 0% 40% Equivalents units of Beginning Wip A (n*m) 0 200 Units started and completed B 8800 8800 8800 Units of Ending WIP   1200 1200 1200 % completion 100% 100% 25% Equivalent units in ending WIP E 1200 1200 300 Total Equivalent units A+B+E 10000 9300 Cost per equivalent units Direct material Conversion cost Total Cost per equivalent units Cost during the period   $36,300 20460 $56,760 Total equivalent units 10000 9300 Cost per equivalent units   d $3.63 $2.20 $5.83 Cost charged to production Beginning Work in Process, 3460 Cost incurred during the period $56,760 Total cost accounted 60220 Cost allocated Work in Process, Beginning 3460 To complete Inventory in process Beginning (4.27*28) 0 $440 $440 Cost of completed Beginning, Wip $3,900 Started and completed b*d $31,944 $19,360 $51,304 Transferred 0ut $55,204 Work in process Ending c*d $4,356 $660 $5,016 Total cost assigned 60220

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