The Completion Department transferred 8,000 units to the finished goods storeroom during a month....
Question:
The Completion Department transferred 8,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 1,000 units were still in process at the end of the month, and were 40% complete. Inventory costs at the end of the month were $3.50.
What were total production costs for the month?
Process costing:
Process costing is a system of cost accounting which uses cost per equivalent units and equivalent units in production as the basis to transfer production costs to the cost of goods sold and ending inventory accounts. It is used by companies in production of large quantities of similar products.
Answer and Explanation: 1
Become a Study.com member to unlock this answer! Create your account
View this answer| Calculation of Production costs | |
|---|---|
| Equivalent units of units completed | 8000 |
| Cost per equivalent... |
See full answer below.
Ask a question
Our experts can answer your tough homework and study questions.
Ask a question Ask a questionSearch Answers
Learn more about this topic:
Get access to this video and our entire Q&A library
Process Costing: Definition & Examples
from
Chapter 1 / Lesson 12
49K
Learn about process costing. Study the process costing definition, examine process costing examples, and discover why process costing systems are so important.
Related to this Question
- The Completion Department transferred 8,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 1,000 units were still in process at the end of the month, and were 40% complete. Inventory costs at th
- A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 500 units were still in process at the end of the month. Equivalent production for the month was 7,400 units, and pr
- The Painting Department transferred 6,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 800 units were still in process at the end of the
- A department had 18,500 units that were 20% complete in beginning Goods in Process Inventory. During the current period 88,800 units were transferred in. Ending Goods in Process Inventory was 22,200 u
- A firm had 600 units in its work in process inventory at the beginning of a month. Of these units, 30 percent were complete with respect to labor, materials, and overhead. The firm transferred 5,000 units to the finished goods inventory during the month.
- Department A completed and transferred out 2,100 units and had an ending work-in-process inventory of 120 units. The ending inventory is 10% complete for materials and 70% for labor and overhead. The equivalent labor and overhead production units is ____
- A department had 150 units which were 10% complete at the beginning Goods in Process Inventory. During the current period, 162 units were transferred out. Ending Goods in Process Inventory was 200 units which were 10% complete. Using the FIFO method, what
- A production department's output for the most recent month consisted of 8,500 units completed and transferred to the next stage of production and 5,500 units in ending work in process inventory. The units in ending work in process inventory were 50% compl
- A production department's output for the most recent month consisted of 9,900 units completed and transferred to the next stage of production and 6,900 units in ending Work in Process inventory. The units in ending Work in Process inventory were 50% compl
- A production department's output for the most recent month consisted of 8,000 units completed and transferred to the next stage of production and 5,000 units in ending work in process inventory. The units in ending work in process inventory were 50% compl
- A production department's output for the most recent month consisted of 8,100 units completed and transferred to the next stage of production and 5,100 units in ending Work in Process inventory. The units in ending Work in Process inventory were 60% compl
- A production department's output for the most recent month consisted of 10,000 units completed and transferred to the next stage of production and 7,000 units in ending Work in Process inventory. The units in ending Work in Process inventory were 50% comp
- A production department's output for the most recent month consisted of 10,000 units completed and transferred to the next stage of production and 10,000 units in ending work in process inventory. The units in ending work in process inventory were 50% com
- A production department's output for the most recent month consisted of 20,000 units completed and transferred to the next stage of production and 20,000 units in ending goods in process inventory. The units in ending goods in process inventory were 70% c
- A department had 145 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 157 units were transferred out. Ending Goods in Process Inventory was 190 units which were 20% complete. Using the weighted-average meth
- A department had 13,500 units that were 20% complete in beginning Goods in Process Inventory. During the current period, 61,000 units were transferred in. Ending Goods in Process Inventory was 16,000 units that were 70% complete. Assume this company uses
- A department had 12,500 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 60,000 units were transferred in. Ending Goods in Process Inventory was 15,000 units which were 70% complete. Assume this company use
- In Department C, materials are added at the beginning of the process. There were 1,000 units in beginning inventory, 10,000 units were started during the month, and 7,000 units were completed and transferred to finished goods inventory. The ending invento
- A department had 600 units which were 40% complete in beginning Goods in Process Inventory. During the current period 7,000 units were transferred out. Ending Goods in Process Inventory was 800 units which were 40% complete. Using the FIFO method, what ar
- In Department C, materials are added at the beginning of the process. There were 1,000 units in beginning inventory, 10,000 units were started during the month, and 7,000 units were completed and tran
- A production department's output for the most recent month consisted of 16,000 units completed and transferred to the next stage of production and 16,000 units in ending Work in Process inventory. The
- 1. A production department's output for the most recent month consisted of 8,000 units completed and transferred to the next stage of production and 5,000 units in ending Work in Process inventory. T
- A process with no beginning work in process, completed and transferred out 95,000 units during a period and had 50,000 units in the ending work in process inventory that were 30% complete. The equival
- In Department C, materials are added at the beginning of the process. There were 1,000 units in beginning inventory, 10,000 units were started during the months, and 7,000 units were completed and tra
- The Assembly Department started the month with 18,000 units in its beginning work in process inventory. An additional 290,000 units were transferred in from the prior department during the month to be
- The Assembly Department started the month with 19,500 units in its beginning work in process inventory. An additional 285,000 units were transferred in from the prior department during the month to be
- The Assembly Department started the month with 16,000 units in its beginning work in process inventory. An additional 300,500 units were transferred in from the prior department during the month to be
- The Assembly Department started the month with 11,500 units in its beginning work in process inventory. An additional 295,500 units were transferred in from the prior department during the month to be
- 1. The Assembly Department started the month with 22,000 units in its beginning work in process inventory. An additional 295,000 units were transferred in from the prior department during the month to
- The Assembly Department started the month with 21,000 units In Its beginning work In process Inventory. An additional 284,500 units were transferred In from the prior department during the month to be
- Beginning inventory for the month contained 3,000 units that were 60 percent complete with respect to materials. During the month, 50,000 units were completed and transferred out. Ending inventory con
- Beginning inventory for the month contained 2,000 units that were 70 percent complete with respect to materials. During the month, 60,000 units were completed and transferred out. Ending inventory con
- A firm had 600 units in process inventory at the beginning of a month. Of these units, 30% were complete with respect to labor, materials, and overhead during the month. It had 500 units of which 40% were complete and still in process at the end of the mo
- The production department of a process operations system completed and transferred finished goods. 18,000 units were in process at the beginning of April and 90,000 units were started and completed in April. April's beginning inventory units were 100% com
- Beginning inventory of goods in process was 1,000 units that were 30% complete as to labor and overhead and 5,050 units were started during the period. Ending goods in process were 250 units, each 80% complete as to labor and overhead. Using the Weighted
- During March, the production department of a process operations system completed and transferred to finished goods 21,000 units that were in process at the beginning of March and 190,000 units that we
- During the month a company started 300,000 units of product in a particular manufacturing process. The beginning work in process inventory was 50,000 units, and the ending inventory was 40,000 units.
- During March, the production department of a process operations system completed and transferred to finished goods 23,000 units that were in process at the beginning of March and 130,000 units that were started and completed in March. March's beginning in
- During March, the production department of a process operations system completed and transferred finished goods 21,000 units that were in process at the beginning of March and 210,000 units that were started and completed in March. March's beginning inven
- During March, the production department of a process operations system completed and transferred to finished goods 27,000 units that were in process at the beginning of March and 180,000 units that were started and completed in March. March's beginning in
- A company uses the FIFO method for inventory costing. During a period, a production department had 20,000 units in beginning goods in process inventory which were 40% complete; the department completed and transferred 165,000 units. At the end of the peri
- A process with no beginning work in process, completed and transferred out 65,000 units during a period and had 50,000 units in the ending work in process inventory that were 20% complete. The equivalent units of production for the period were: a. 80,000
- A process with no beginning work in process, completed and transferred out 75,000 units during a period and had 50,000 units in the ending work in process inventory that were 30% complete. The equivalent units of production for the period were: a. 75,000
- A company uses the FIFO method for inventory costing. During a period, a production department had 20,000 units in beginning goods in process inventory which were 40% complete; the department completed and transferred 165,000 units. At the end of the per
- A firm had no work in process at the beginning of a month. It transferred 4,000 units to finished goods during the month, and 500 units were still in process at the end of the month. Equivalent production for the month was 4,400 units. At what stage of co
- A process began the month with 3,000 units in the beginning work in process inventory and ended the month with 2,000 units in the ending work in process. If 12,000 units were completed and transferred out of the process during the month, how many units we
- The assembly Department started the month, with 59.000 units in its beginning work in process inventory. An additional 274.000 units were started into production, during the month, to begin processing
- The Assembly Department started the month with 59,000 units in its beginning work in process inventory. An additional 274,000 units were started into production during the month to begin processing in
- The Assembly Department started the month with 35,000 units in its beginning work in process inventory. An additional 472,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 3
- The Assembly Department started the month with 14,500 units in its beginning work in process inventory. An additional 276,500 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 4
- The Assembly Department started the month with 24,000 units in its beginning work in process inventory. An additional 309,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 2
- The Assembly Department started the month with 14,000 units in its beginning work in process inventory. An additional 296,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 1
- The Assembly Department started the month with 21,500 units in its beginning Work in Process Inventory. An additional 292,500 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 4
- The Assembly Department started the month with 83,000 units in its beginning work in process inventory. An additional 334,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 3
- The Assembly Department started the month with 20,500 units in its beginning work in process inventory. An additional 281,500 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 4
- The Assembly Department started the month with 26,000 units in its beginning work in process inventory. An additional 311,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 3
- The Assembly Department started the month with 24,000 units in its beginning work in process inventory. An additional 309,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were
- In the month of June, a department had 12,000 units in beginning work in process that were 70% complete. During June, 48,000 units were transferred into production from another department. At the end of June there were 6,000 units in ending work in proces
- In the month of June, a department had 8,000 units in beginning work in process that were 70% complete. During June, 32,000 units were transferred into production from another department. At the end of June, there were 4,000 units in ending work in proces
- Beginning Work in Process Inventory (45% complete as to conversion) 10,000 units Started this period 120,000 units Ending Work in Process Inventory (80% complete as to conversion) 8,200 units Beginnin
- Zahn Industries uses process costing system. During October, the finishing department had 30,000 units in beginning work-in-process inventory and 45,000 units in ending work in process inventory. Duri
- The Finishing Department had 5,500 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs.16,500 units were received from the previous department. The ending Work-in-Pro
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, 6-1 (30% completed) 4,000 units Completed units during June 65,000 units Ending i
- In the month of June, a department had 20,000 units in beginning work in process that were 70% complete. During June, 90,000 units were transferred into production from another department. At the end of June, there were 10,000 units in ending work in proc
- A company uses the FIFO method for inventory costing. At the beginning of a period, the production department had 48,000 units in beginning Work in Process inventory which were 36% complete; the department completed and transferred 171,000 units. At the e
- Haberdashery Company has a beginning Work-in-Process Inventory of 25,000 units (40% complete). During the period, 110,000 units were started and the ending Work-in-Process Inventory consisted of 20,000 units (80% complete). What are the equivalent units f
- Finishing Department Costs: Work in process inventory, April 1, 450 units; materials |100% completed; conversion 60% complete|$8,208* |Costs transferred in during the month from the preceding depa
- There is no spoilage, the beginning work-in-process inventory is 9,650 units, and the ending work-in- process inventory is 5,250 units for the second department in a two department process. What is th
- There is no spoilage, the beginning work-in-process inventory is 9,250 units, and the ending work-in- process inventory is 5,800 units for the second department in a two department process. What is t
- A company uses the FIFO method for inventory costing. At the start of the period the production department had 50,000 units in beginning Work in Process inventory which were 35% complete; the department completed and transferred 170,000 units. At the end
- The production department in a process manufacturing system completed 180,500 units of product and transferred them to finished goods during a recent period. Of these units, 25,500 were in process at the beginning of the period. The other 155,000 units we
- The production department in a process manufacturing system completed 367,000 units of product and transferred them to finished goods during a recent period. Of these units, 67,000 were in process at the beginning of the period. The other 300,000 units we
- The production department in a process manufacturing system completed 234,000 units of product and transferred them to finished goods during a recent period. Of these units, 74,000 were in process at the beginning of the period. The other 160,000 units we
- The production department in a process manufacturing system completed 196,500 units of product and transferred them to finished goods during a recent period. Of these units, 31,500 were in process at the beginning of the period. The other 165,000 units we
- The following data are available for Quality Corporation for the current year: Beginning inventory of goods in process 12,000 units, 60% completed Ending inventory of goods in process 18,000 units, 30% completed Units completed and transferred to finishe
- A company's January 1 goods in process inventory contained 30,000 units that were 1/4 complete with respect to direct labor. The beginning inventory was completed this year and another 120,000 units were started. Of those started, 80,000 were finished and
- A company's January 1 goods in process inventory contained 30,000 units that were 25% complete with respect to direct labor. The beginning inventory was completed this year and another 120,000 units were started. Of those started, 80,000 were finished and
- In the beginning inventory, 5,000 units were 40% complete with regard to materials. During this period 40,000 units were transferred out. Ending inventory consisted of 7,000 units that were 70% comple
- In the month of June, a department had 12,000 units in beginning work in process that were 70% complete. During June, 48,000 units were transferred into production from another department. At the end of June, there were 6,000 units in ending work in proce
- The assembly department began the period with 82,000 units in its beginning work in process inventory. An additional 675,000 units were transferred into this department during the period to be assembl
- In a given department, the beginning inventory of 8,000 units was 60% complete as to materials, labor and overhead. A total of 9,000 units were started and completed during the period, and the ending
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (30% completed) 4,000 units Completed units during June 58,000 units Ending inventory (60% completed) 3,000 units Determine the nu
- The company wants to end each month with ending finished goods inventory equals to 20% of the next month's sales. Finished goods inventory on December 31 is 620 units. The budgeted production units for February are: a. 5,320 units. b. 5,100 units. c. 4,46
- At the beginning of the month, the Forming Department of Martin Manufacturing had 23,000 units in Inventory, 40% complete as to materials, and 20% complete as to conversion. During the month the department started 73,000 units and transferred 81,500 units
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, 6-1, 25% completed 1,500 units Transferred to finished goods during June 5,000 units Equivalent units of production during June 5,200 uni
- At the beginning of the month, the Forming Department of Martin Manufacturing had 29,000 units in inventory, 40% complete as to materials, and 15% complete as to conversion. During the month the department started 98,000 units and transferred 100,000 unit
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, June 1 (20% completed) 8,000 units Completed units during June 90,000 units Ending inventory (50% complete) 2,000 units What is the tota
- 1) The production department in a process manufacturing system completed 302,000 units of product and transferred them to finished goods during a recent period. Of these units, 72,000 were in process at the beginning of the period. The other 230,000 unit
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, 6-1 ( 68% completed) 4,907 units Completed units during June 63,056 units Ending inventory (60% complete) 2,659 units Determine the numbe
- During December, the production department of a process operations system completed and transferred to finished goods a total of 65,000 units of product. At the end of March, 15,000 additional units were in process in the production department and were 80
- The production department in a process manufacturing system completed 88,000 units of product and transferred them to finished goods during a recent period. Of these units, 35,200 were in process at t
- The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,000 were in process at t
- The production department in a process manufacturing system completed 197,500 units of product and transferred them to finished goods during a recent period. Of these units, 26,000 were in process at
- The production department in a process manufacturing system completed 74,000 units of product and transferred them to finished goods during a recent period. Of these units, 29,600 were in process at t
- During January, the production department of a process operations system completed and transferred to finished goods a total of 78,000 units. At the end of January, 9,000 additional units were in process in the production department and were 65% complete
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, 6-1 (69% completed) 5,103 units Completed units during June 58,141 units Ending inventory (45% complete) 2,887 units Determine the number
- A process with 1,600 units of beginning work in process, completed and transferred out 25,000 units during a period. There were 10,000 units in the ending work in process that were 50% complete as to
- The Alderman Company has prepared a sales budget of 48,000 finished units for a 3-month period. The company has an inventory of 14,000 units of finished goods on hand on December 31 and has a target finished goods inventory of 16,000 units at the end of t
- The following production data were taken from the records of the Finishing Department for June: Inventory in process, 6-1 (76% completed) 4,814 units Completed units during June 62,349 units Ending inventory (61% complete) 4,150 units Determine the number
- The cost of the partially completed goods at the end of the period would be: a. beginning work in process inventory. b. cost of goods manufactured. c. ending work in process inventory. d. ending finished goods inventory.
Explore our homework questions and answers library
Browse
by subject