Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you please show me the steps because I am confused. Thank you Four Seasons Company makes snow blowers. 100% of the materials are added

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Can you please show me the steps because I am confused. Thank you

Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 60% complete with respect to conversion costs and the ending inventory is 80% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 200 units Units transferred out 290 units Units in ending inv. 170 units Conversion costs $223,000 Cost of direct materials $231,000 Beginning work-in-process costs: Materials $119,000 Conversion $136,000 Using the weighted average method, what is the cost per eu for conversion costs? 842.72 margin of error +/- 0.1 Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 70% complete with respect to conversion costs and the ending inventory is 30% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 200 units Units transferred out 250 units Units in ending inv. 200 units Beginning work-in-process costs: Materials $126,000 Conversion $120,000 The DM cost/eu was determined to be $980 The CC cost/eu was determined to be $990. How much conversion cost is assigned to ending inventory using the weighted average method? 59,400 margin of error +/-0.1 Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 60% complete with respect to conversion costs and the ending inventory is 60% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 200 units Units transferred out 280 units Units in ending inv. 200 units Beginning work-in-process costs: Materials $100,000 Conversion $113,000 The DM cost/eu was determined to be $890. The CC cost/eu was determined to be $1080. Using the weighted average method, how much conversion cost is assigned to units transferred out? 302,400 margin of error +/- 0.1 Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 80% complete with respect to conversion costs and the ending inventory is 70% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 190 units Units transferred out 250 units Units in ending inv. 190 units Conversion costs $238,000 Cost of direct materials $235,000 Beginning work-in-process costs: Materials $129,000 Conversion $111.000 Using the FIFO method, what is the cost per eu for conversion costs? 1,030.3 margin of error +/- 0.1

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

Step: 3

blur-text-image

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

Count Down The Past, Present And Uncertain Future Of The Big Four Accounting Firms

Authors: Jim Peterson

2nd Edition

1787147010, 9781787147010

More Books

Students also viewed these Accounting questions

Question

=+f. Audience Engagement encourage consumer participation.

Answered: 1 week ago

Question

=+d. Emotional Approach appeal to consumers' emotions.

Answered: 1 week ago