During December, Krause Chemical Company had the following selected data concerning the manufacture of Xyzine, an industrial cleaner.                                    Production Flow                                      Physical Units        Completed and transferred to the next department                                   100    Add: Ending work-in-process inventory                                                      10 (40% complete as to conversion)              Total units to account for                                                             110    Less: Beginning work-in-process inventory                                               20   (60% complete as to conversion)          Units started during December                                                          90All material is added at the beginning of processing in this department, and conversion costs are added uniformly during the process. The beginning work-in-process inventory had $120 of raw material and $180 of conversion costs incurred. Material added during December was $540 and conversion costs of $1,484 were incurred. Krause uses the weighted-average process-costing method. The total raw material costs in the ending work-in-process inventory for December is

During January, the production department of a process operations system completed and transferred to finished goods a total of 59,000 units. At the end of January, 12,000 additional units were in process in the production department and were 45% complete with respect to conversion. The beginning inventory included conversion cost of $39,200 and the production department incurred conversion costs of $311,100 during January. Compute the cost per equivalent unit for conversion for the department using the weighted-average method.

In a manufacturing company, Product X is a popular item known for its quality and durability. During the last production cycle, the company produced 3,000 units of Product X. The opening inventory at the beginning of the cycle was 200 units, and the closing inventory at the end of the cycle was 400 units. The company also incurred administrative expenses amounting to $15,000 during the period, and the sales team received commissions totalling 5% of total sales revenue.The financial details for Product X are as follows:Selling price per unit: $70Direct materials per unit: $20Direct labor per unit: $12Variable production overhead per unit: $8Fixed production overhead: $30,000Calculate the gross profit for Product X using marginal costing.

NexGen Manufacturing commenced a production process with no work-in-progress at the beginning of a period and no losses incurred during the period. Throughout the period, 5,000 units of raw material were input into the process. By the end of the period, 4,500 units had been completed. The closing work-in-progress was 100% complete regarding materials and 60% complete with conversion costs. Calculate the equivalent units of production for the period.Question 11Answera.Materials: 4,500; Conversion costs: 5,300b.Materials: 4,500; Conversion costs: 4,800c.Materials: 5,000; Conversion costs: 4,200d.Materials: 5,000; Conversion costs: 4,800

Karen Corporation uses a process-costing system. Products are manufactured in a series of three departments. The following data related to Department two for the month of february.Beginning work-in-process (70% complete)     10,000 unitsGoods started in production     80,000 unitsEnding work-in-process (60% complete)       5,000 unitsThe beginning work-in-process was valued at $66,000, consisting of $20,000 of transferred-in costs, $30,000 of material costs, and $16,000 of conversion costs. Materials are added at the beginning of the process; conversion costs are added evenly throughout the process. Cost added to production during February wereTransferred-in$16,000Materials used88,000Conversion cost50,000All preliminary and final calculations are rounded to two decimal places.Assume that the company uses the first-in, first-out (FIFO) method of inventory valuation. Under FIFO, how much conversion cost did Karen transfer out of Department Two during February?

During Year 2, XYZ Inc. reported an absorption costing income from operations of $100,000. The following information is given to you with respect to XYZ’s Year 2 activity:- Beginning Inventories: 10,000 units (including $3 of fixed overhead per unit).- During Year 2, XYZ Inc. produced and sold 90,000 and 85,000 units respectively.- Fixed overhead per unit on units produced during Year 2 amounted to $2.50 per unit.- XYZ employs a FIFO (First-in First-out) approach to inventory sales.Based on the information provided, variable costing income from operations would have been:Select one:a. $92,500.b. $137,500.c. $117,500.d. $112,500.