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Cool Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department.
Cool Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Cool uses the weighted average method of process costing. The following information for June 2017 is available. (Click the icon to view the information.) Requirements Read the requirements Requirement 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs. (Enter a "O" for any zero Equivalent Units Transferred-In - Direct Costs Materials Physical Units (tons) ) Conversion 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs. 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. 3. Assign costs to units completed (and transferred out) and to units in ending work in process. Costs 85 165 i Data Table Print Done Work in process, beginning inventory (June 1) Transferred in during June To account for Completed and transferred out during June Work in process, ending inventory (June 30) 165 85 A Accounted for 1 B D F Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs 85 $ 93,500ls ol $ 5 25,5001 Equivalent units work done to date 100% 0% 60% 165 2 Work in process, beginning inventory (June 1) Degree of completion, beginning work in , 3 process 4 Transferred-in during June 6 Completed and transferred out during June 6 Work in process, ending inventory (June 30) 7 Degree of completion, ending work in process 8 Total costs added during June 165 85 100% 0% 80% Enter any number in the edit fields and then click Check Answer. $ 148,500 S 41,250 $ 84,150 Darts
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