Answered step by step
Verified Expert Solution
Question
1 Approved Answer
conversion cost added this month ) 4 0 . 0 0 0 2 3 0 , 0 0 0 Total Cost Cost to be accounted
conversion cost added this month
Total Cost
Cost to be accounted for:
IVIP. April I
Cost added during the month
Total Cost
Cost Reconciliation
Cost accounted for as follow:
Transferred to department B
$
WIP April
Total cost
Dolce Company has just been acquired by another organization and the management wants some additional information about Dolce's operations.
Required
Is Dolce co using the weighted average method or the FIFO metho to account for units and costs? How can you tell?
What were the equivalent units for the month?
What were the unit costs for the month? The beginning inventory consisted of the following costs: materials, $ and conversion cost $ The costs added during the month consisted of: materials, $ and conversion cost. $
How many of the units transferred to department B were started and completed during the month?
VII. Equivalent units; Costing of inventories; Weighted Average method you are employed by Spirit company, a manufacturer of digital watches. company's chief financial officer is trying to verify the accuracy of the D WIP and finished goods inventories prior to closing the books f the year. You have been asked to assist in this verification. The year end balances shown on Spirit Company's books are as follows:
Units
Costs
WIP complete as
to labor and overhead
Finished goods
;
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