Process Costing Cost Accounting - Problems Solutions. o t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� ` 14400 for overhead. � 3. C Disclaimer 9. For example, if 100 tennis balls were 40% complete, then it is as if 40 tennis balls were completed. � 3. � have literally hundreds of thousands of different products represented. If we find that our competitors can deliver the same quality jackets for a lower price, we need to investigate ways to reduce the production cost of our jackets. 109,000 ( (\$.40 + .64) = \$113,360 c. Materials: 24,000 ( \$.40 = \$9,600 Conversion: 16,000 ( \$.64 = 10,240 Total \$19,840 SOLUTIONS TO PROBLEMS Problem F2-8 a. In order to read or download Disegnare Con La Parte Destra Del Cervello Work backwards from the cost per equivalent unit to determine units completed and transferred out: MaterialsConversionBeginning inventory\$5,900\$15,000Added to production 47,300 65,000 Total materials cost\$53,200\$80,000Materials cost per EU ( \$.40 ( \$.64Equivalent units133,000125,000Less: Ending WIP EU Materials (40,000 ( 60%)(24,000) Conversion (40,000 ( 40%)(16,000)Units completed & transferred109,000109,000 Notice the result was the same using the \$.40 materials EU cost or the \$.64 conversion EU cost. � � 2. U The total cost assigned to the units transferred out of work in process and to the units in ending work in process equals the total of beginning work in process inventory plus the materials and overhead costs added during the period. � On the other hand, if our customers can purchase jackets of similar quality for less than \$148.63, we don�t want to raise our prices that high. Many thanks. � � � � � � V W X o p ~ � � � � � � � � � � � � � � � � � � � � gdKF� ) \$\$d %d &d 'd N� � O� � P� � Q� � a\$gdKF� �����^��`���gd�� �����^��`���gd�]� gd�� ~  � � � � � � � � � W K dh \$If gd�gP � kd7 \$\$If �l � �F ��~# � 6 | It is ascertained that in each process normally 5% of the total weight is lost and 10% is scrap which from processes A and B realizes Rs.80 per ton and Rs.200 per ton, respectively: � � Conversion costs are the costs of direct labor and overhead needed to convert raw materials into products. � process costing questions solutions accounting principles (9th edition) jerry weygandt paul kimmel donald kieso 958 chapter 21 process costing 23. dipak co. � stream z l a�Qyt�gP " # % o c T T \$dh \$If a\$gd�gP dh \$If gd�gP � kd"9 \$\$If �l � � �F ��~#�� �6 �| ABC Ltd. is producing the product “P” required to be processed in three continuous processes. � � Academy Almanac Exam Papers News Blog Contact . � � � � � � � � � � � � � � � � � � � � � � � � � \$If gdQ\$! Copyright 10. W Academy Almanac Exam Papers News Blog Contact . Calculate and explain equivalent units of production. Before we increase our prices, I recommend we conduct market surveys to determine what price our customers are willing to pay. � b. t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� Just select your click then download button, and complete an � � � � � ( ) � � ! " Process Costing Problems & Solutions Problem no 1: Meghna Company began 1993 with 3000 units in wprk-in-process.. During April, 320,000 units were started in Department X. t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� � � Bloom Item L.O. Job-order costing and process costing have the same basic purposes—to assign materials, labor, and overhead cost to products and to provide a mechanism for computing unit product costs. Image Guidelines 5. I get my most wanted eBook. � 2. � There was no stock or work-in-progress in any process. ��ࡱ� > �� ���� z �������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������� '` �� F5 bjbjLULU ?� .?