Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Determine the equivalent units of production, cost per equivalent unit and the cost of ending work in process and units transferred out using the data
Determine the equivalent units of production, cost per equivalent unit and the cost of ending work in process and units transferred out using the data provided. | |||||
Data | |||||
Beginning work in process inventory: | |||||
Units in process | 35,000 | ||||
Completion with respect to conversion | 30% | ||||
Costs in the beginning work in process inventory: | |||||
Conversion cost | $15,575 | ||||
Units started into production during the period | 20,000 | ||||
Costs added to production during the period: | |||||
Conversion cost | $550,900 | ||||
Ending work in process inventory: | |||||
Units in process | 22,000 | ||||
Completion with respect to conversion | 15% | ||||
Enter a formula into each of the cells marked with a ? below | |||||
Weighted Average method: |
|
Costs of Ending Work in Process Inventory and the Units Transferred Out | |||
Conversion | |||
Ending work in process inventory: | |||
Equivalent units | ? | ||
Cost per equivalent unit | ? | ||
Cost of ending work in process inventory | ? | ||
Units completed and transferred out: | |||
Units transferred to the next department | ? | ||
Cost per equivalent unit | ? | ||
Cost of units transferred out | ? |
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