Question
Applegate Enterprises produces premier raspberry jam. Output is measured in pints. Applegate uses the weighted average method. During January, Applegate had the following production data:
Applegate Enterprises produces premier raspberry jam. Output is measured in pints. Applegate uses the weighted average method. During January, Applegate had the following production data:
| Units in process, January 1, 60% complete | 108,000 pints |
| Units completed and transferred out | 720,000 pints |
| Units in process, January 31, 40% complete | 225,000 pints |
| Costs: | |
| Work in process, January 1 | $162,000 |
| Costs added during January | 1,053,000 |
Required:
1. Using the weighted average method, calculate the equivalent units for January. equivalent units
2. Calculate the unit cost for January. Round your answer to the nearest cent. $per unit
3. Assign costs to units transferred out and EWIP.
| Cost of goods transferred out | $ |
| Ending work in process (EWIP) | $ |
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Internal Auditing Assurance & Consulting Services
Authors: Kurt F Reading, Paul J Sobel, Urton L Anderson, Michael J Head, Sri Ramamoorti
1st Edition
0894136100, 9780894136108
