PA1.

LO 5.1The following product costs are available for Haworth Company on the production of chairs: direct materials, $15,500; direct labor,$22,000; manufacturing overhead, $16,500; selling expenses,$6,900; and administrative expenses, $15,200. 1. What are the prime costs? 2. What are the conversion costs? 3. What is the total product cost? 4. What is the total period cost? 5. If 7,750 equivalent units are produced, what is the equivalent material cost per unit? 6. If 22,000 equivalent units are produced, what is the equivalent conversion cost per unit? PA2. LO 5.1The following product costs are available for Arrez Company on the production of DVD cases: direct materials,$1,450; direct labor, $15.50; manufacturing overhead, applied at 150% of direct labor cost; selling expenses,$1,550; and administrative expenses, $950. The direct labor hours worked for the month are 90 hours. 1. What are the prime costs? 2. What are the conversion costs? 3. What is the total product cost? 4. What is the total period cost? 5. If 1,450 equivalent units are produced, what is the equivalent material cost per unit? 6. What is the equivalent conversion cost per unit? PA3. LO 5.3Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year’s production: Ending inventory was 100% complete as to materials and 70% complete as to conversion, and the total materials cost is$57,540 and the total conversion cost is $36,036. Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? What is the value of the inventory transferred out and the value of the ending WIP inventory? PA4. LO 5.3During March, the following costs were charged to the manufacturing department:$14,886 for materials; $14,656 for labor; and$13,820 for manufacturing overhead. The records show that 30,680 units were completed and transferred, while 2,400 remained in ending inventory. There were 33,080 equivalent units of material and 31,640 of conversion costs. Using the weighted-average method, what is the cost of inventory transferred and the balance in work in process inventory?

PA5.

LO 5.3Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method.

PA6.

LO 5.3Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in 130,000 units before ending the month with 14,000 units that were 100% complete with regard to materials and 30% complete with regard to conversion costs. The cost per unit of material is $5.80 and the cost per unit for conversion is$8.20 per unit. Using the weighted-average method, what is the amount of material and conversion costs assigned to the department for the month?

PA7.

LO 5.3The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added at the beginning of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.

PA8.

LO 5.4The finishing department started the month with 700 units in WIP inventory. It received 2,200 units from the molding department and transferred out 2,150 units. How many units were in process at the end of the month?

PA9.

LO 5.4The packaging department began the month with 500 units that were 100% complete with regard to material and conversion. It received 9,500 units from the processing department and ended the month with 750 units that were 100% complete with regard to materials and 30% complete with regard to conversion. With a $5 per unit cost for conversion and a$5 per unit cost for materials, what is the cost of the units transferred out and remaining in ending inventory?

PA10.

LO 5.4Production information shows these costs and units for the smoothing department in August.

All materials are added at the beginning of the period. The ending work in process is 30% complete as to conversion. What is the value of the inventory transferred to finished goods and the value of the WIP inventory at the end of the month?

PA11.

LO 5.4Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 25% complete with regard to conversion costs.

PA12.

LO 5.4Complete this production cost report:

PA13.

LO 5.5Selected information from Skylar Studios shows the following:

Prepare journal entries to record the following:

1. raw material purchased
2. direct labor incurred
3. depreciation expense (hint: this is part of manufacturing overhead)
4. raw materials used
5. overhead applied on the basis of $0.50 per machine hour 6. the transfer from department 1 to department 2 PA14. LO 5.5Loanstar had 100 units in beginning inventory before starting 950 units and completing 800 units. The beginning work in process inventory consisted of$2,000 in materials and $5,000 in conversion costs before$8,500 of materials and \$11,200 of conversion costs were added during the month. The ending WIP inventory was 100% complete with regard to materials and 40% complete with regard to conversion costs. Prepare the journal entry to record the transfer of inventory from the manufacturing department to the finished goods department.

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