Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. value: 10.00 points Clonex Labs, Inc., uses the weighted average method in its process costing system. The following data are available for one department
1. value: 10.00 points Clonex Labs, Inc., uses the weighted average method in its process costing system. The following data are available for one department for October: Percent Completed Materials Conversion 90% 55% 74% 46% Units 53,000 26,000 Work in process, October 1 Work in process, October 31 The department started 383,000 units into production during the month and transferred 410,000 completed units to the next department. Required: Compute the equivalent units of production for October Materials Conversion Equivalent units of production 4. value: 10.00 points Maria Am Corporation uses the weighted average method in its process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,850, the cost of ending work in process inventory was $1,190, and the cost added to production was $25,500. Required: Prepare a cost reconciliation report for the Baking Department for June. Baking Department Cost Reconciliation Costs to be accounted for Total cost to be accounted for Costs accounted for as follows: Total cost accounted for 3. value: 10.00 points Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials 2,010 $ 14.96 Conversion 870 $ 5.23 A total of 21,000 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. (Round your final answers to the nearest whole dollar amount.) Materials Conversion Total 1. Cost of ending work in process inventory 2. Cost of units transferred out
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started