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Give totally answer i will give you a good comment. Dave and Missy Corporation makes interlocking children's blocks in a single processing department. Direct materials
Give totally answer i will give you a good comment.
Dave and Missy 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. Dave and Missy uses the weighted average method of process costing. The following information for October 2017 is available. (Click the icon to view the equivalent unit information.) (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. Total Production Costs Direct Materials Conversion Costs Completed and transferred out Work in process, ending Total costs to account for Choose from any list or enter any number in the input fields and then click Check Answer. i Data Table - X Equivalent Units Physical Direct Conversion Units Materials Costs Work in process, October 1 50,000a 50,000 40,000 Started in October 70,000 Completed and transferred out during October 80,000 80,000 80,000 Work in process, October 31 40,000b 40,000 20,000 a Degree of completion: direct materials, 100%; conversion costs, 80%. Degree of completion: direct materials, 100%; conversion costs, 50%. Print Done i Data Table Total Costs for October 2017 Work in process, beginning Direct materials $ 2,000 40,000 $ 42,000 Conversion costs Direct materials added during October Conversion costs added during October 40,000 80,000 $ 162,000 Total costs to account for Print Done 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 DoneStep by Step Solution
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