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ACC 221 Homework 6 | Complete Solution

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ACC 221 Homework 6 | Complete Solution

1.)Alpha Company's April 1, 2017 beginning work in process was 700 units. During April Alpha put into production an additional 1,400 units were put into production. At the end of April all units were completed except for 500 units. Use this information to determine number of units completed

2.)March 1, 2017, Alpha Company's beginning work in process inventory had 8,000 units. This is its only production department. Beginning WIP units were 50% complete as to conversion costs. Alpha introduces direct materials at the beginning of the production process. During March, a total of 17,000 units were started and a total of 20,000 units were completed. Alpha's ending WIP inventory had 5,000 units which were 60% complete as to conversion costs. Alpha uses the weighted average method. Use this information to determine for March 2017 the equivalent units of production for conversion costs. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

Question 3

 (14 points)

 

Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 100,000 units were started. At the end of the month all started units were 80% complete with respect to conversion. Direct Materials placed into production had a total cost of $24,000 and the total conversion cost for the month was $16,000. Alpha uses the weighted-average process costing method. Use this information to determine for the month of March: (Round & enter final answers to the nearest penny.)

            1. the cost per equivalent unit of direct material

            2. the cost per equivalent unit of conversion

 

Question 4

 (21 points)

 

Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Alpha started into production 10,000 units. At the end of the month there were 5,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 40% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

            Direct Material                      $20,000

            Direct Labor                             9,000

            Factory Overhead                  40,000

Alpha uses the weighted-average process costing method. Use this information to determine for the month of March: (Round & enter final answers to the nearest penny.)

            1. the cost per equivalent unit of direct material

            2. the cost per equivalent unit of conversion

            3. the cost per unit transferred to finished goods

 

Question 5

 (14 points)

 

Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Alpha started into production 10,000 units. At the end of the month there were 5,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 70% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

            Direct Material                      $20,000

            Direct Labor                            8,000

            Factory Overhead                  43,000

Alpha uses the weighted-average process costing method. Use this information to determine for the month of March: (Round & enter final answers to the nearest whole dollar.)

            1. the total cost transferred to the finished goods inventory

            2. the total cost of the ending Work in Process inventory

Question 6

 (8 points)

 

Alpha Company uses the weighted-average process costing method. During the month of March the direct material equivalent unit cost was $10.00 and the conversion cost equivalent unit was $6.00. Alpha completed and transferred $96,000 of production to the finished goods inventory for the month of March. Use this information to determine the number of units that were transferred from the Work in Process.

Question 7

 (8 points)

 

Using weighted-average, total cost to account for in a process is $150,000, evenly divided between materials and conversion.  Conversion consists of 75,000 equivalent units, divided one-third to work in process and two-thirds to completed units. Use this information to determine the total cost that will remain in the ending balance of the Work in Process.

 

Question 8

 (14 points)

 

October 1, 2017, Alpha Company started a new production operation using the weighted average method of process costing.  During October, 9,000 units were started and 7,000 were transferred to finished goods. The October 31, work in process inventory was 100% complete as to material costs and 60% complete as to conversion costs.  Material costs for the month of October were $27,000 and conversion costs were $36,900. Use this information to determine: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

1. the total costs transferred to finished goods inventory for October 2017

2. the cost that should be assigned to Alpha' work in process inventory at the end of October 2017

Question 9

 (7 points)

 

Alpha Company uses a process cost system.  During 2017, Alpha had no beginning work in process inventory.  During 2017, Alpha started 700 units. Alpha had 200 units in work in process at the end of 2017. These units were 50% complete with respect to materials. Use this information to determine the equivalent units for direct materials. (Round & enter final answers to nearest whole number of units)

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