Answered step by step
Verified Expert Solution
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
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