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all and asap please Associates Inc. uses the weighted average method in its process costing system. The following data relates to the process operations of
all and asap please
Associates Inc. uses the weighted average method in its process costing system. The following data relates to the process operations of the company for a recent month. Work in process, beginning: Units in process Percent complete with respect to direct materials Percent complete with respect to conversion costs Units started into production during the month Units completed and transferred to finished goods Work in process, ending: Units in process Percent complete with respect to direct materials Percent complete with respect to conversion costs Costs in the beginning work in process inventory: Direct materials cost Conversion costs Costs added to production during the month: Direct materials cost Conversion costs Total costs 500 80% 70% 12,000 12,000 500 80% 20% $1,340 $8,475 $65,000 $412,000 $486,815 Required: a. Determine equivalent units of production for direct materials and conversion costs. b. Determine costs per equivalent unit for direct materials and conversion costs. C. Determine the cost of the units completed and transferred to finished goods. d. Determine the cost of the incomplete units in ending work in process inventoryStep by Step Solution
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