Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ending WIP 40% complete materials / 50% complete for conversion is 10,000 units Cost of materials in WIP is $8,000 Cost of Conversion in WIP

Ending WIP

40% complete materials / 50% complete for conversion is 10,000 units

Cost of materials in WIP is $8,000

Cost of Conversion in WIP is $10,000

Units Started in month was 120,000

Conversion costs added during month $250,000

Material costs added during month was $210,000

Beginning WIP

70% complete materials / 60% complete for conversion is 5,000 units

Cost of materials in WIP is $4,000

Cost of Conversion in WIP is $5,500

Compute the cost per unit in good report format for the month, using the weighted average method.

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

Step: 3

blur-text-image

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: Robert Kemp, Jeffrey Waybright

5th edition

134727797, 9780134728643 , 978-0134727790

More Books

Students also viewed these Accounting questions

Question

Technology

Answered: 1 week ago

Question

Population

Answered: 1 week ago