Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Calculator eBook Print item Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concer

image text in transcribed
image text in transcribed
Calculator eBook Print item Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concer beginning of production. Work in Process-Assembly Department Bal., 7,000 units, 65% completed 21,000 To Finished Goods, 161,000 units Direct materials, 165,000 units @ $1.7 280,500 Direct labor 246,500 Factory overhead 95,905 Bal., 2 units, 60% completed Cost per equivalent units of $1.70 for Direct Materials and $2.10 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? Check My Work 3 more Check My Work uses remaining. Direct materials, 165,000 units $1.7 280,500 Direct labor 246,500 Factory overhead 95,905 Bal., 2 units, 60% completed Cost per equivalent units of $1.70 for Direct Materials and $2.10 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? Yes C. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit incre the current period? Increase Check My Work 3 more Check My Work uses remaining

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Finance For Lawyers In A Nutshell

Authors: Charles Meyer

7th Edition

1647083001, 9781647083007

More Books

Students also viewed these Accounting questions

Question

Describe employee assistance programs.

Answered: 1 week ago

Question

Describe the importance of physical fitness programs.

Answered: 1 week ago

Question

Discuss the factors that set the stage for global HR practice.

Answered: 1 week ago