Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Coat Information and the Weighted Average Method Morison Company had the equivalent unies schedule and cost information for its Sewing Department for the month of

image text in transcribed
image text in transcribed
Coat Information and the Weighted Average Method Morison Company had the equivalent unies schedule and cost information for its Sewing Department for the month of December, as shown below. Work in process, Dectmber 1: Orect materials Conversion conts Total wark in process current costs Direct materiak Carvenion coats Total currenk costs $65,000 13,000 $78,000 $500,000 $683,000183,000 I mask Orect My Wos uses remaing. Previous All work awred. 1. Calculate the unit cost for Decembec, using the weighted average method. Mound final answer to the nearest cent. (Nore: retain unrounded interim amounts for use in part 2.) per equivalent unt 2. Calculate the cout of goods transferred out, calculate the cost of EWip, and reconole the costs assigned with the costs to account for. Using interim amounts from part I (unrounded amounts), compute each amount. Then round only final amounts to the nearest dollar. Crist of poodi mansferred cut: Units completied cest of EWL Socal costs assigned (eccounted for) Fectnoliation. Cest tar account for: gw Curvent \{December) toeal compieted frum wos aburce (baw1 output and cument output) Round final answer to the nearest cent. per unie Coat Information and the Weighted Average Method Morison Company had the equivalent unies schedule and cost information for its Sewing Department for the month of December, as shown below. Work in process, Dectmber 1: Orect materials Conversion conts Total wark in process current costs Direct materiak Carvenion coats Total currenk costs $65,000 13,000 $78,000 $500,000 $683,000183,000 I mask Orect My Wos uses remaing. Previous All work awred. 1. Calculate the unit cost for Decembec, using the weighted average method. Mound final answer to the nearest cent. (Nore: retain unrounded interim amounts for use in part 2.) per equivalent unt 2. Calculate the cout of goods transferred out, calculate the cost of EWip, and reconole the costs assigned with the costs to account for. Using interim amounts from part I (unrounded amounts), compute each amount. Then round only final amounts to the nearest dollar. Crist of poodi mansferred cut: Units completied cest of EWL Socal costs assigned (eccounted for) Fectnoliation. Cest tar account for: gw Curvent \{December) toeal compieted frum wos aburce (baw1 output and cument output) Round final answer to the nearest cent. per unie

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

Auditing A Guide To Principles And Practice

Authors: J H Crowhurst

1st Edition

0304309052, 978-0304309054

More Books

Students also viewed these Accounting questions

Question

What is the purpose of the auditor's report? AppendixLO1

Answered: 1 week ago

Question

Does it avoid use of underlining?

Answered: 1 week ago