Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Will you please show me how to solve this problem step-by-step? Cambridge Company manufactures plastic bottles that it sells to organizations that manufacture bottled water.

Will you please show me how to solve this problem step-by-step?

Cambridge Company manufactures plastic bottles that it sells to organizations that manufacture bottled water. During the most recent month, there was no opening inventory. During the month, 25 million bottles were entered into production and 24 million were completed. The units in ending inventory were 100% complete with respect to materials costs and 60% complete with respect to conversion costs. During the month, materials costs were $500,000 and conversion costs were $246,000.

  1. What was the number of equivalent units work done for conversion costs this month?
  2. What was the cost per equivalent unit of conversion cost this month?
  3. What is the cost that will be allocated to units completed and transferred out?
  4. What is the cost that will be allocated to ending work in process?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems The Crossroads of Accounting & IT

Authors: Donna Kay, Ali Ovlia

2nd Edition

132991322, 978-0132991322

More Books

Students also viewed these Accounting questions