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E17-29 (similar to) Question Help Brainiac Corporation makes interlocking children's blocks in a single processing department. Direct materials are added at the start of production.
E17-29 (similar to) Question Help Brainiac Corporation makes interlocking children's blocks in a single processing department. Direct materials are added at the start of production. Conversion costs are added evenly throughout production. Brainiac uses the weighted average method of process costing. The following information for October 2017 is available. E: (Click the icon to view the equivalent unit information.) E: (Click the icon to view the cost information.) Read the requirements Requirement 1. Summarize total costs to account for and calculate cost per equivalent unit for direct materials and conversion costs. Begin by summarizing the total costs to account for. Direct Total Production Costs Conversion Costs Materials Total costs to account for Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts 2 2 pemaining remaining - Clear All Check Answer i Data Table - X Equivalent Units Conversion Costs 29,750 Physical Direct Units Materials Work in process, October 1 35,000 35,000 Started in October 40,000 Completed and transferred out during October 50,000 50,000 Work in process, October 31 25,000 25,000 * Degree of completion: direct materials, 100%; conversion costs, 85%. Degree of completion: direct materials, 100%; conversion costs, 50%. 50,000 12,500 Print Done i Data Table - X Total Costs for October 2017 Work in process, beginning Direct materials $ 6,000 20,000 $ 26,000 30,000 Conversion costs Direct materials added during October Conversion costs added during October 70,000 126,000 $ Total costs to account for Print Print Done Done A Requirements 1. Calculate cost per equivalent unit for direct materials and conversion costs. 2. Summarize the total costs to account for, and assign them to units completed (and transferred out) and to units in ending work in process. Print Print Done
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