Question
Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production
Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February:
| Work-in-process Inventory, February 1st | 4,000 trusses |
| Direct Materials Cost: 100% Complete | $100,000 |
| Conversion: 20% Complete | $150,000 |
| Units started during February | 18,000 trusses |
| Units completed during Feb. & Transferred Out | 17,000 trusses |
| Work-in-process inventory, February 29 | |
| Direct Matierals: 100% Complete | |
| Conversion: 40% Complete | |
| Costs incurred during February | |
| Direct Materials | $59,500 |
| Conversion | $92,250 |
Required Using the weighted-average method, calculate the following:
1. Costs per equivalent unit.
2. Cost of goods completed and transferred out.
3. Cost remaining in the ending work-in-process inventory.
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Commercial Printing IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304133753, 978-1304133755
