Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Can you please help me to solve this question? Please show your work and your calculations. Step by step. Thank you! 18-37 Weighted-average method, shipping
Can you please help me to solve this question? Please show your work and your calculations. Step by step. Thank you!
18-37 Weighted-average method, shipping department (continuation of 18-35). In the shipping depart- ment of World Class Steaks, conversion costs are added evenly during the process, and direct materials are added at the end of the process. Spoiled units are detected upon inspection at the end of the process and are disposed of at zero net disposal value. All completed work is transferred to the next department. The transferred-in costs for May equal the total cost of good units completed and transferred out in May from the prep department, which were calculated in Problem 18-35 using the weighted-average method of process costing. Summary data for May follow. Home Insert Page Layout Formulas Data Review View A B C D E Physical Transferred-In Direct Conversion 1 World Class Steaks: Shipping Department Units Costs Materials Costs 2 Work in process, beginning inventory (May 1) 25,200 $67,397 $ 0 $46,950 3 Degree of completion of beginning work in process 100% 0% 70% 4 Started during May 49,200 5 Good units completed and transferred out during May 52,800 6 Work in process, ending inventory (May 31) 16,800 7 Degree of completion of ending work in process 100% 0% 40% 8 Total costs added during May ? $11,520 $81,690 9 Normal spoilage as a percentage of good units 7% 10 Degree of completion of normal spoilage 100% 100% 11 Degree of completion of abnormal spoilage 100% 100% For the shipping department, use the weighted-average method to summarize the total costs to account for and assign those costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process. Required
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started