Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of completed units and ending inventory Green Products Inc. cans peas and uses the weighted average cost method. For the month of November, the

Cost of completed units and ending inventory Green Products Inc. cans peas and uses the weighted average cost method. For the month of November, the company showed the following:

Peas completed and canned ................. 245,000 lb Peas in process at the end of November: 100% complete to peas, 50% complete as to labor and overhead, 0% complete as to cans ..................................... 16,500 lb Cost data: Peas ........................................ $.10 per equivalent pound Labor....................................... $.25 per equivalent pound Overhead................................... $.15 per equivalent pound Cans........................................ $.07 per can Each can contains 16 oz, or 1 lb, of peas. Required: 1. Calculate the cost of the completed production for November. 2. Show the detailed cost of the ending inventory for November

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

Governmental And Nonprofit Accounting Theory And Practice

Authors: Robert J Freeman, Craig D Shoulders, Gregory S Allison, Terry K Patton, Robert Smith,

9th Edition

0132552728, 9780132552721

More Books

Students also viewed these Accounting questions

Question

List three benefits of using a to-do list.

Answered: 1 week ago

Question

How easy the information is to remember

Answered: 1 week ago

Question

The personal characteristics of the sender

Answered: 1 week ago

Question

The quality of the argumentation

Answered: 1 week ago