What are the following conversion factors called?

6 answers
Question:

What are the following conversion factors called?

Answers

a) EU for transferred in costs = 80,000

EU for materials costs = 79,000

EU for conversion costs = 82,300

b) cost per EU for transferred in costs = $1

cost per EU for materials costs = $0.13

cost per EU for conversion costs = $0.17

c) costs transferred to finished goods inventory = $106,088

d) cost of ending WIP = $6,816

Explanation:

units completed = 5,000 + 80,000 - 6,000 = 79,000

beginning WIP 5,000 units:

transferred in costs $7,550

30% completed for conversion costs ($1,093)

0% completed for materials

current period:

transferred in costs $80,000, cost per EUP = $80,000 / 80,000 = $1.00

materials $10,270, cost per EUP = $10,270 / 79,000 = $0.13

conversion $13,991, cost per EUP = $13,991 / [(5,000 x 70%) + 74,000 + (6,000 x 80%)] = $13,991 / 82,300 = $0.17

costs transferred to finished goods inventory = (74,000 x $1) + (79,000 x $0.13) + (77,500 x $0.17) + $7,550 + $1,093 = $106,088

ending WIP = (4,800 x $0.17) + $6,000 = $6,816

a. What are the total equivalent units for direct materials?

152,400 units

b. What are the total equivalent units for conversion costs?

129,700 units

c. What is the cost per equivalent unit for direct materials?

Total Direct Materials Cost

 $495,300

Cost per equivalent unit =  Total Direct Materials Cost / total equivalent units for direct materials

$3.25

d. What is the cost per equivalent unit for conversion costs?

Total conversion costs

$324,250

Cost per equivalent unit =  Total conversion costs / total equivalent units for conversion

$2.50

e. What is the total cost of units completed and transferred out?

$615,250

f. What is the total cost of units remaining in ending WIP?

$204,300

Explanation:

a. What are the total equivalent units for direct materials?

Completed and Transferred (107,000 × 100%) = 107,000 units

Ending Work In Process (45,400 × 100%)         = 45,400 units

Total equivalent units                                         = 152,400 units

b. What are the total equivalent units for conversion costs?

Completed and Transferred (107,000 × 100%) = 107,000 units

Ending Work In Process (45,400 × 50%)           = 22,700 units

Total equivalent units                                         = 129,700 units

c. What is the cost per equivalent unit for direct materials?

Total Direct Materials Cost

Beginning Work In Process $53,200

Added                                   $442,100

Total Direct Materials          $495,300

Cost per equivalent unit =  Total Direct Materials Cost / total equivalent units for direct materials

                                         = $495,300/ 152,400 units

                                         = $3.25

d. What is the cost per equivalent unit for conversion costs?

Total conversion costs

Beginning Work In Process $19,600

Added                                   $304,650

Total conversion costs         $324,250

Cost per equivalent unit =  Total conversion costs / total equivalent units for conversion

                                          =$324,250/ 129,700 units

                                         = $2.50

e. What is the total cost of units completed and transferred out?

Raw Materials ( $3.25 × 107000) = $347,750

Conversion($2.50 × 107000) =       $267,500

Total                                                  $615,250

f. What is the total cost of units remaining in ending WIP?

Raw Materials ( $3.25 × 45,400) = $147,550

Conversion($2.50 × 22,700)       =  $56,750

Total                                                 $204,300

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Answer and Explanation:

The computation of given question is shown below:-

                                      Hi-Test Company

                            Weighted-average method

                                                              Equivalent units

Particulars                            Physical units  Material  Conversion costs

Units to be accounted for

Beginning work-in-progress    2,000

Production started                    28,000

Total units                                  30,000

Units accounted for:

1. Completed and transferred

out                                             23,000        23,000        23,000

                                                                 (23,000 × 100%)

Ending work-in-progress          7,000          7,000           2,800

                                                               (7,000 × 100%) (7,000 × 40%)

2. Total units                             30,000         30,000       25,800

                                           Materials   Conversion costs  Total costs

Costs to account for:

Beginning work in

progress                              $45,000        $56,320               $101,320

                                                  ($25,600 + $30,720)

Costs added during

period                                  $375,000      $341,000            $716,000

Total costs                           $420,000     $397,320            $817,320

÷

Total equivalent unit

of production                         $30,000      $25,800

3. Cost per equivalent unit   $14.00         $15.40

Cost accounted for

4. Completed and transferred

out                                         $322,000     $354,200         $676,200

                                      (23,000 × $14.00) (2,800 × $15.40)

7. Ending work in progress   $98,000        $43,120            $141,120

                                    (30,000 × $14.00) (25,800 × $15.40)

Total cost                                $420,000     $397,320         $817,320

Hey . I didn't answered because ur question is very big .

// Program is written in C Programming Language

// Comments are used for explanatory purpose

// Program starts here

#include<stdio.h>

#include<math.h>

//Function to Convert to float

void To float(int num, int I)

{

//Create a kount variable

int kount;

// Start an iteration

for(kount=i-1; kount>0; kount--)

{

if((num>>kount) && 1) {printf("1");}

else { printf("0"); }

}

}

// Create a user defined variable

typedef union {// Definition

float Number;

struct

{

// Mantissa

unsigned int mant : 23;

// Exponent

unsigned int exp : 8;

// Sign

unsigned int sign: 1;

} raw;

} myfloat; // Variable name

// Create print segment

void printsegment(myfloat var)

{

printf("%d |", var.raw.sign);// Sign

To float(var.raw.exp,8); // Exponent

printf("|");

To float(var.raw.mant,8); // Mantissa

printf("\n");

}

// Function to Convert to Real

unsigned int ToReal(int* dig[], int l, int h)

{

unsigned int f = 0, I;

Start an iteration

for(I = h; I>=l;I--)

{

// Calculate individual value

f = f + dig[I] * pow(2,h-1);

}

return f;

}

// Main method start here

int main()

{

printf("Floating Point Conversion\n");

printf("Select any of the following options\n");

printf("1. Decimal to IEEE754 Conversion\n");

printf("2. IEEE754 to Decimal Conversion\n");

printf("3. Quit");

// Declare integer variable for option

int opt;

// Prompt to select option

printf("Select an option; Option 1 to 3: ");

scanf("%d", $opt);

if(opt == 1)

{

printf("You have selected option 1");

// Declare a user defined variable and a system defined variable

myfloat var; float number;

// Accept input

scanf("%d", number);

// Check for special cases

if(isnan(number/0.0))// Not a number

{

printf("Not a Number");

}

else

{

var.f = number;

// Print Sign

printf("%d | ", var.raw.sign);

// Print Exponent

ToFloat(var.raw.exp,8);

printf(" | ");

// Print Mantissa

ToFloat(var.raw.mant,23);

}

}// End of option 1;

// Beginning of option 2

else if(opt == 2)

{

printf("You have selected option 2");

// Declare an array and two integer variables

unsigned int number[32];

int ctrlno, I = 0;

// Accept input by through an iteration

for(int k = 0; k < 32; k++)

{

// Create a label

label: scanf("%d", ctrlno);

// Check for special cases

if(isnan(ctrlno/0.0))// Not a number

{

printf("Not a Number"); I++;

break;

}

else if(ctrlno>1 || ctrlno < 0)

{

printf("Invalid Number\n Please enter a valid digit");

goto label;

}

else {

// Assign number to array

number[k] = ctrlno;

}

// Check validity of number

if(I != 0)

{

printf(" Invalid Number Representation");

}

else

{

// Declare user defined variable

myfloat var;

// Get sign

var.raw.sign = number[0];

// Get mantissa; From to 31

unsigned f = ToReal(number,9,31);

var.raw.mant = f;

// Get exponent; 1 to 8

f = ToReal(number,1,8);

var.raw.exp = f;

// Print Output

printf("The converted digit is ");

printf("%f", var.f);

}

else

{

// Quit Application

break;

}

return 0;

}

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