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all info is shown and clear 4 5 6 8 0 1 Silver Spoon Incorporated is a manufacturer of kitchen utensils. It produces all produ
all info is shown and clear
4 5 6 8 0 1 Silver Spoon Incorporated is a manufacturer of kitchen utensils. It produces all produ Direct materials are added at the beginning of the process. The information for the current month is as follows: The company uses the weighted average method of process costing Physical Units Direct Materials Conversion Costs Work in process beginning 37.500! $ 25,000 S 10,000 completion of WIP 100% 25% Started during the month 55,000 Good units completed & transferred out 75,000 Work-in-process, ending inventory 14,500 % completion of ending WIP 100% 60% Total costs added during August $ 113,750 $ 55,028 Normal spoilage as % of good units 396 % completion of normal spoilage 100% 100% to completion of abnormal sporlage 100% 100% Required: 1. For each cost category, calculate equivalent units Equivalent Units Flow of Production Physical Units Direct Materials Conversion Costa Work in process, beginning Started during current period To account for Completed and transferred out Normal spoilage Abnormal spoilage Work in process, ending Accounted for Work done to date 2. Summarize total costs to account for calculate cost per equivalent unit for each cost category, and assign total costs to units completed and transferred out including normal spoilage), to abnormal spoilage, and to units in ending work in process Cost per equivalent unit: Direct Materials Conversion Costs Total Costs Work in process, beginning AB 1. For each cost category, calculate equivalent units. Equivalent Units Flow of Production Plusical Units Direct Materials Conversion Costs Work in process, beginning Started during current period To account for Completed and transferred out Normal spoilage Abnormal spoilage Work in process, ending Accounted for Work done to date 2. Summarize total costs to account for calculate cost per equivalent unit for each cost category, and assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process. Cost per equivalent unit: Direct Materials Conversion Costs Total Costs Work in process, beginning Costs added in current period Total costs to account for w Equivalent units of work Cost per equivalent unit Assign total costs : Direct Materials Conversion Costs Total Costs Good units completed & transferred out Cost before adding normal spoilage Normal spoilage Total cost of good units completed & transferred out Abnormal spoilage Work in process, ending Total costs accounted for Step by Step Solution
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