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anwers with weight average method and FIFO HW Assign Process Costs Tokiwa Name ID THE FOLLOWING INFORMATION APPLIES TO QUESTIONS BELOw: The Tokiwa chair company
anwers with weight average method and FIFO
HW Assign Process Costs Tokiwa Name ID THE FOLLOWING INFORMATION APPLIES TO QUESTIONS BELOw: The Tokiwa chair company manufacturers a standard recliner During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 82,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 3,000 chairs in ending inventory at the Assembly Department. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The beginning work in process was 20% complete as to conversion costs. while the ending work in process was 70% completed as to conversion costs. Using two methods to answer to the questions below Beginning inventory: Direct materials Conversion costs$100, 450 S31,750 Manufacturing costs added during the accounting period: Direct materials Conversion costs $278,000 Answers with the weighted average method WI. What were the equivalent units for direct materials and conversion costs during February? W2. What are the costs per equivalent unit for direct material and conversion costs? W3. What are the dollar values of direct materials and conversion costs assigned to the ending work-in-process inventory in FebruaryStep by Step Solution
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