Question
Alpha Company had the following information for FY 2017: Work in Process- 1/1/17 100,000 units Units Started into Production 575,000 units Work in Process -
Alpha Company had the following information for FY 2017:
Work in Process- 1/1/17 | 100,000 units |
Units Started into Production | 575,000 units |
Work in Process - 12/31/17 | 75,000 units |
Direct Material put into Production | $575,000 |
Conversions Costs put into Production | $843,750 |
The beginning work in process was 100% complete as to direct materials and 75% complete to conversion costs.
The ending work in process was 100% complete as to direct materials and 50% complete as to conversion costs.
The beginning work in process consisted of:
Direct Material | $268,750 |
Conversion Costs | $431,250 |
Alpha Company uses the weighted- average method. Use this information to prepare the Cost Allocation section of the Cost of Production Report for FY 2017. (Round all final dollar values to the nearest whole dollar.) (Note: there are additional lines in the blank answer schedule.)
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