cool clotning

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 Information for June 2020 follows Click the icon to view the information) Read the requirements Q Requirement 1. Calculate equivalent units of transferred in costs, direct materials, and conversion costs. (Enter a o" for any zero balances) Equivalent Units Physical Units Transferred In Direct Conversion toms) Costs Materials Costs Work in proces, beginning inventory Wune 1) Transferred in during June To account for Completed and transferred out during June 175 60 BO 155 Cool Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing departm 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 proces costing. Information for June 2020 follows Click the icon to view the information) Read the requirements (tons) Costs Materials Costs Work in process, beginning inventory (June 1) Transferred in during June 80 156 To account for Completed and transferred out during June Work in process, ending inventory (June 30) 175 60 Accounted for Equivalent units work done to date A 1 Physical Transferred In Direct Conversion Units (tons) Costs Materials Costs 80$ 88,000 $ 0 $ 24 000 100% 0% 50% 155 2. Work in process, beginning inventory (June 1) 3 Regree of completion, beginning work in process 4 Transferred-in during June 5 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 175 60 100% 75% 0% 43,750 $ $ 175,000 $ 91.875 Requirements - X 1. Calculate equivalent units of transferred-in costs, direct materials, and A conversion costs 2. Summarize total costs to account for, and calculate 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. Print Done