Humphrey Manufacturing produces automobile parts and batteries. All direct materials are added at the beginning of production, and conversion costs are incurred evenly throughout production.

Answered step by step
Verified Expert Solution
Question
37 users unlocked this solution today!
Humphrey Manufacturing produces automobile parts and batteries. All direct materials are added at the beginning of production, and conversion costs are incurred evenly throughout production. The following production information is for the month of April:
Units:
Work in process, March 31: 6,000 units, (40% complete)
Units started in April: 42,000
Units completed during April: 40,000
Work in process April 30: 8,000 units, (25% complete)

Costs in beginning WIP:
Direct materials ... $ 7,500
Conversion costs .... 2,125
Total ........ $9,625

Costs added this period:
Direct materials added in April ...... $ 70,000
Conversion costs added in April .... 42,500
Total ............... $112,500

REQUIRED
Prepare a process cost report for April using the weighted average method.

Step by Step Solution

3.49 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Link Copied!

Step: 1

tr msoheightsourceauto col msowidthsourceauto br msodataplacementsamecell style43 msonumberformat 000 000 00220022 msostylenameComma msostyleid3 style45 msonumberformat00220022 00000220022 ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

100% Satisfaction Guaranteed-or Get a Refund!

Step: 2Unlock detailed examples and clear explanations to master concepts

blur-text-image_2

Step: 3Unlock to practice, ask and learn with real-world examples

blur-text-image_3

Document Format ( 1 attachment)

Excel file Icon

392-B-M-A-C-M (1093).xlsx

300 KBs Excel File

See step-by-step solutions with expert insights and AI powered tools for academic success

  • tick Icon Access 30 Million+ textbook solutions.
  • tick Icon Ask unlimited questions from AI Tutors.
  • tick Icon Order free textbooks.
  • tick Icon 100% Satisfaction Guaranteed-or Get a Refund!

Claim Your Hoodie Now!

Recommended Textbook for

Cost Management Measuring Monitoring And Motivating Performance

Authors: Leslie G. Eldenburg, Susan K. Wolcott

2nd Edition

978-0-470-7694, 0470769424, 978-0470769423

More Books
flashcard-anime

Study Smart with AI Flashcards

Access a vast library of flashcards, create your own, and experience a game-changing transformation in how you learn and retain knowledge

Explore Flashcards

Students Have Also Explored These Related Managerial Accounting Questions!