19-30 Weighted-average method, spoilage. (LO 2) The White Crab Company is a food-processing company based in...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/06/665aacb135fcd_480665aacb0a89c6.jpg)
Transcribed Image Text:
19-30 Weighted-average method, spoilage. (LO 2) The White Crab Company is a food-processing company based in PEL. It operates under the weighted-average method of process costing and has two departments: cleaning and packaging. For the cleaning department, conversion costs are added evenly during the process, and direct materials are added at the beginning of the process. Spoiled units are detected upon inspection at the end of the process and are disposed of at zero net disposal value. All completed work is transferred to the packaging department. Summary data for May follow: Physical Direct Conversion 1 The White Crab Company: Cleaning Department 2 Work-in-process, beginning inventory (May 1) Units Materials Costs 2,500 $2,500 $2,000 3 4 Degree of completion of beginning work-in-process Started during May 100% 80% 22.500 Good units completed and transferred out during May 6 Work-in-process, ending inventory (May 31) 7 18,500 4,000 Degree of completion of ending work-in-process Total costs added during May 100% 25% $22,500 $20,000 Normal spoilage as a percentage of good units 10% 100% 100% 100% 100% 10 Degree of completion of normal spoilage 11 Degree of completion of abnormal spoilage Required For the cleaning department, summarize total costs to account for, and assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work-in-process. Carry unit-cost calculations to four decimal places when necessary. Calculate final totals to the nearest dollar. (Problem 19-32 explores additional facets of this problem.) Check Figure: 1. Normal spoilage equivalent units, conversion costs, 1,850 units 19-31 FIFO method, spoilage. (LO 2) Refer to the information in Problem 19-30. Required Do Problem 19-30 using the FIFO method of process costing. (Problem 19-33 explores additional facets of this problem.) 19-30 Weighted-average method, spoilage. (LO 2) The White Crab Company is a food-processing company based in PEL. It operates under the weighted-average method of process costing and has two departments: cleaning and packaging. For the cleaning department, conversion costs are added evenly during the process, and direct materials are added at the beginning of the process. Spoiled units are detected upon inspection at the end of the process and are disposed of at zero net disposal value. All completed work is transferred to the packaging department. Summary data for May follow: Physical Direct Conversion 1 The White Crab Company: Cleaning Department 2 Work-in-process, beginning inventory (May 1) Units Materials Costs 2,500 $2,500 $2,000 3 4 Degree of completion of beginning work-in-process Started during May 100% 80% 22.500 Good units completed and transferred out during May 6 Work-in-process, ending inventory (May 31) 7 18,500 4,000 Degree of completion of ending work-in-process Total costs added during May 100% 25% $22,500 $20,000 Normal spoilage as a percentage of good units 10% 100% 100% 100% 100% 10 Degree of completion of normal spoilage 11 Degree of completion of abnormal spoilage Required For the cleaning department, summarize total costs to account for, and assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work-in-process. Carry unit-cost calculations to four decimal places when necessary. Calculate final totals to the nearest dollar. (Problem 19-32 explores additional facets of this problem.) Check Figure: 1. Normal spoilage equivalent units, conversion costs, 1,850 units 19-31 FIFO method, spoilage. (LO 2) Refer to the information in Problem 19-30. Required Do Problem 19-30 using the FIFO method of process costing. (Problem 19-33 explores additional facets of this problem.)
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
The county collector of Sun coast County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county for estimated...
-
On January 1, 2022, the Sheridan Company budgeted the following for the year ended December 31, 2022: 1. Sales units: First quarter 4,700; second quarter 5,600; third quarter 6,700; fourth quarter...
-
On August 19, 2021, Brick Co. purchased and placed in service an apartment building and land. The Total purchase price was $2,000,000, of which $400,000 was allocated to the land and $1,600,000 was...
-
Should the interview be the primary criterion in selecting a coach? Why or why not?
-
What do you think about promoting from within for pro baseball teams? Why would this work or not work?
-
What are the components of a job analysis?
-
Suppose the firm you work for has an HR department. What does this mean for you as a manager? What services will this department typically provide? What will you still need to do?
-
What is the difference between mediators and arbitrators?
-
Consider the system shown in gure withmA= 9.9.0 kg and mg = 13.8.0 kg. The angles e A = 54 and eg=24. What is the magnitude of acceleration of the two blocks? ( Your result must be in unit of m/s?...
-
Using the information in the previous question, does interest rate parity exist? Explain.
-
Explain in general terms how various forms of arbitrage can remove any discrepancies in the pricing of currencies.
-
Assume the following information: Given this information, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and compute the profit from this strategy...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App