Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For each of the following independent cases, determine the units or equlvalent units requested (assuming weighted-average costing). Required: a. Beginning Inventory had 13,000 units 40

image text in transcribed

For each of the following independent cases, determine the units or equlvalent units requested (assuming weighted-average costing). Required: a. Beginning Inventory had 13,000 units 40 percent complete with respect to conversion costs. During the perlod, 11,300 units were started. Ending Inventory had 9,450 units 20 percent complete with respect to converslon costs. How many units were transferred out? b. Beginning Inventory consisted of 13,000 units with a direct materlals cost of $53,000. The equivalent work represented by all direct materlais costs In the WIP Inventory account amounted to 76,000 units. Ending Inventory had 22,000 units that were 20 percent complete with respect to materlals. The ending inventory had an $14,300 direct materlals cost assigned. What was the total materlals cost Incurred this perlod? c. The WIP Inventory account had a beginning balance of $12100 for corversion costs on items in process and, during the perlod, $112,800 In conversion costs were charged to it. Also during the perlod, $95,200in costs were transferred out. There were 2,600 units In the beginning Inventory, and 27,200 units were transferred out during the perlod. How many equlvalent units are in the ending Inventory? d. During the perlod, 8,300 units were transferred Into the department. The 11,800 units transferred out were charged to the next department at an amount that included $27,140 for direct materlals costs. The ending Inventory was 25 percent complete with respect to direct materlals and had a direct materlals cost of $5,960 assigned to it. How many physlcal units are In the ending Inventory? For each of the following independent cases, determine the units or equlvalent units requested (assuming weighted-average costing). Required: a. Beginning Inventory had 13,000 units 40 percent complete with respect to conversion costs. During the perlod, 11,300 units were started. Ending Inventory had 9,450 units 20 percent complete with respect to converslon costs. How many units were transferred out? b. Beginning Inventory consisted of 13,000 units with a direct materlals cost of $53,000. The equivalent work represented by all direct materlais costs In the WIP Inventory account amounted to 76,000 units. Ending Inventory had 22,000 units that were 20 percent complete with respect to materlals. The ending inventory had an $14,300 direct materlals cost assigned. What was the total materlals cost Incurred this perlod? c. The WIP Inventory account had a beginning balance of $12100 for corversion costs on items in process and, during the perlod, $112,800 In conversion costs were charged to it. Also during the perlod, $95,200in costs were transferred out. There were 2,600 units In the beginning Inventory, and 27,200 units were transferred out during the perlod. How many equlvalent units are in the ending Inventory? d. During the perlod, 8,300 units were transferred Into the department. The 11,800 units transferred out were charged to the next department at an amount that included $27,140 for direct materlals costs. The ending Inventory was 25 percent complete with respect to direct materlals and had a direct materlals cost of $5,960 assigned to it. How many physlcal units are In the ending 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

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

Modern Auditing

Authors: Graham Cosserat

2nd Edition

0470863226, 978-0470863220

More Books

Students also viewed these Accounting questions