The following information pertains to production activities in the Refining Department of Storm Corporation. All units in

Question:

The following information pertains to production activities in the Refining Department of Storm Corporation. All units in work in process were costed using the weighted average cost flow assumption.

Required:

1. What were the conversion costs per equivalent unit of production last period and this period?

2. What was the conversion cost in the work-in-process inventory account at November 28?

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Introduction to Managerial Accounting

ISBN: 978-1259105708

5th Canadian edition

Authors: Peter C. Brewer, Ray H. Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan

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Question Posted: Oct 11, 2019 01:22 PM

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The following information pertains to production activities in the Refining Department of Storm Corporation. All units in

Question:

Percentage of Complete Refining Department WIP, November 1 Units started and cost incurred during November Units completed and transferred to the Mixing Department WIP, November 28 Units Completion Costs 18,750 101,250 $ 16,500 80% $107,250 75,000 50%

Step by Step Answer:

1 Conversion cost per unit last period 16500 18750 08 110 Conversion cost ...View the full answer

Introduction to Managerial Accounting

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