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can you answer 7 and 8 too.?? QUESTION 7 The Lakeside Company uses a weighted average process costing system. The following data are available: Beginning
can you answer 7 and 8 too.??
QUESTION 7 The Lakeside Company uses a weighted average process costing system. The following data are available: Beginning inventory 1,000 units (100% complete as to materials and 50% complete as to labor and overhead); Units started in production 19,000; Units finished during the period 16,000; Units in process at the end of the period (100% complete as to materials and 25% complete as to labor and overhead) 4,000; Costs in beginning inventory were materials of $1,500 and Labor and overhead costs $1,000; Cost added during the period were $35,200 for materials and Labor and overhead costs of $37,400. What is the weighted average value of materials in ending Work in Process Inventory for the period? Round to the nearest $1.00. QUESTION 8 The Lakeside Company uses a weighted average process costing system. The following data are available: Beginning inventory 1,000 units (100% complete as to materials and 50% complete as to labor and overhead): Units started in production 19,000; Units finished during the period 16,000; Units in process at the end of the period (100% complete as to materials and 25% complete as to labor and overhead) 4,000; Costs in beginning inventory were materials of $1,500 and Labor and overhead costs $1,000; Cost added during the period were $35,200 for materials and Labor and overhead costs of $37,400. What is the weighted average cost per EUP of materials for the period? Round to the nearest $.001
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