Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as

image text in transcribedimage text in transcribed

Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Bal., 3,000 units, 75% completed Direct materials, 71,000 units @ $1.9 Direct labor Factory overhead Bal., 2 units, 75% completed Work in Process-Assembly Department 13,575 To Finished Goods, 69,000 units 134,900 192,900 75,000 Cost per equivalent units of $1.90 for Direct Materials and $3.80 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory $ $ $ ?

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

Financial Accounting

Authors: Walter T. Harrison, Charles T. Horngren

7th edition

0135012848, 978-0135012840

More Books

Students also viewed these Accounting questions

Question

Compare and contrast licensing and subcontracting.

Answered: 1 week ago