Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Complete the missing amounts in the ollo method ng production report. Mate als are added at the beginning o the process; conversion costs are incurred

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

Complete the missing amounts in the ollo method ng production report. Mate als are added at the beginning o the process; conversion costs are incurred evenly the ending inventory s 60% oomplete. The company uses the weighted average EEE Click the icon to view the production report.) Production Cost Report Finishing Department Month Ended September 30, 2018 Direct Conversion Total COSTS Materials Costs Costs to account tor: Beginning work-in-process 1.400 2,510 13,780 7,273 Costs added during period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: 8,383 23,563 Completed and transferred out Ending work-In-process 23.563 Total costs accounted for Complete the missing amounts in the fallowing method report. Materials are added at the beginning of the process; costs are incurred evenly; the ending inventory is 60% complete. The company uses the weighted average B(Click the icon to view the production report) Patrick Company Production Cost Report Finishing Department Month Ended September 30, 2018 Equivalent Units Physical Direct Cversion UNITS Units Materials Costs Units to account for Beginning work-in-process 700 1,600 Started in production Total units to account for Units accounted tor: Completed and transfered out Ending work-in-process 700 Patrick Company Production Cost Report Finishing Department Month Ended September 30, 2018 Equivalent Units Physical Direct Conversion UNITS Units Materials Costs Units to account for: 700 1,600 Beginning work-in-process Started in production Total units to account for Units accounted for: Completed and transferred out 700 Ending work-in-process Total units accounted for Ending work-in-process 700 (e) Total units accounted for Direct Conversion Total COSTS Materials Costs Costs Costs to account for: 1,400 13,780 C) $ 7,273 Beginning work-in-process 2,510 Costs added during period Total costs to account for Divided by: Total EUP Cost per equivalent unit Costs accounted for: 8,383 23,563 Completed and transferred out Ending work-in-process (x) $ 23,563 Total costs accounted for

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

Commercial Printing IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304133753, 978-1304133755

More Books

Students also viewed these Accounting questions

Question

1. Design and present information effectively

Answered: 1 week ago