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help with calculations pls Requirements 1. and 2. Recalculate the cost per equivalent unit, assuming the actual percentage of completion of ending work in process
help with calculations pls
Requirements 1. and 2. Recalculate the cost per equivalent unit, assuming the actual percentage of completion of ending work in process was 80% for direct materials and 50% for conversion costs. Based on the revised percentage of completion amounts, recalculate cost of goods completed and transferred out and the cost of ending work in process inventory Start by recalculating the physical flow of units and output equivalents. Summary of the flow of Physical Units and Output in Equivalent Units; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Equivalent Units Physical Direct Conversion Units Materials Costs Completed and transferred out during current period 28,000 28,000 13,000 Work in process, ending (given) 13,000 x 80%: 13,000 x 50% : X 10,400 6,500 Accounted for 41.000 Equivalent units of work done to date 38,400 34,500 Degree of completion reported in this plant: direct materials. 80%; conversion costs, 50%. 28,000 Recalculate the cost per equivalent unit amounts, cost of units completed and transferred out, cost of ending work in process inventory, and total costs accounted for, assuming the actual percentage of completion of ending work in process was 80% for direct materials and 50% for conversion costs. (Round per unit amounts to five decimal places, X.XXXXX, and all other amounts to the nearest whole dollar.) Summary of Cost per Equivalent Unit and Costs Assigned to Units Completed and to Units in Ending Work-in- Process inventory; Weighted-Average Method of Process Costing, Plant C of Beige Industries for Quarter 4, 2020 Total Production Costs Direct Materials Conversion Costs Costs incurred to date S 135,300 $ 192.920 38.400 34,500 Divide by equivalent units of work done to date S 3.52344 $ 5.59188 Cost per equivalent unit of work done to date Assignment of costs (28.000 x (28.000 x Completed and transferred out (28.000 units) S 255,229 $3.52344) $5.59188) (10.400 x Work in process, ending (13.000 units) 72.991 $3.52344) (6,500 x $5.59188) S 328,220 S 135,300 $ Total costs accounted for 192.920Step by Step Solution
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