Levels Tought:
University
Teaching Since: | Apr 2017 |
Last Sign in: | 347 Weeks Ago, 4 Days Ago |
Questions Answered: | 9562 |
Tutorials Posted: | 9559 |
bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
CPA
Polytechnic State University
Jan-2012 - Nov-2016
Professor
Harvard Square Academy (HS2)
Mar-2012 - Present
Newton Corporation uses a process costing system to trace costs through several phases of produc- tion, starting with the Blending Department and ending with the Packaging Department. Recent computer problems have caused some of the company’s accounting records to be destroyed. Shown below is a partial summary of information retrieved by accountants from the Blending Depart- ment’s February production cost report:
Cost Data: Blending Department Direct materials costs in beginning inventory, February 1 . . . . . . . . . . . . . . . . . . |
  $ 12,000 |
Conversion costs in beginning inventory, February 1 . . . . . . . . . . . . . . . . . . . . . . |
25,200 |
Direct materials costs incurred in February . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
162,000 |
Conversion costs incurred in February . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
271,000 |
Cost per equivalent unit of conversion in February. . . . . . . . . . . . . . . . . . . . . . . . |
5 |
Physical Units: Blending Department Units in process, February 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
 ? |
Units transferred out during February. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
58,000 |
Units started in February . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
54,000 |
Units in process, February 28Â . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
2,000 |
Percentage of Completion: Blending Department Direct materials, February 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
 100% |
Conversion, February 1Â . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
? |
Direct materials, February 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
100% |
Conversion, February 28Â . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
20 |
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a.      Compute the number of units that were in the Blending Department’s beginning inventory on February 1.
b.      Compute the number of units that were started and completed by the Blending Department in February.
c.    Compute the cost per equivalent unit of direct materials and conversion carried forward from
January and assigned to the Blending Department’s beginning inventory on February 1.
d.       Compute the Blending Department’s cost per equivalent unit of direct materials consumed in February.
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