Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Glencove Co. makes one model of radar gun used by law enforcement officers. All direct materials are added at the beginning of the manufacturing process.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Glencove Co. makes one model of radar gun used by law enforcement officers. All direct materials are added at the beginning of the manufacturing process. Information for the month of September follows: Costs Units ? $1,336,500 625,800 $1,962,300 Beginning work in process (40% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (75% complete) Current period costs Direct materials Conversion cost Total current period costs 36,400 34,800 21,850 $2,402,400 1,266,500 $3,668,900 Required: 1. Using the weighted average method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Physical Units Physical Units Beginning Units Units Completed Units Started Ending Units Total Units 0 Total Units 0 Using the weighted average method of process costing, calculate the number of equivalent units. (Round your answers up to the nearest whole unit.) Equivalent Units Direct Materials Conversion Physical Units Units Completed Ending Inventory Total 0 0 0 Using the weighted average method of process costing, calculate the cost per equivalent unit. (Round Cost per Equivalent Unit to 5 decimal places.) Direct Materials Conversion Cost per Equivalent Unit Using the weighted average method of process costing, reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount.) Direct Materials Conversion Total Cost Units Completed Ending Inventory Total Cost Accounted for 0 $ 0 $ 0

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

Intermediate Accounting Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

13th Canadian Edition

1119740444, 9781119740445

More Books

Students also viewed these Accounting questions