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i am stuck, please help asap!! Analytical Thinking (Algo) [LO5-2, LO5-3, LO5-4] 7 think we poofed when we hired that new assistant controliect, said Phath
i am stuck, please help asap!!
Analytical Thinking (Algo) [LO5-2, LO5-3, LO5-4] 7 think we poofed when we hired that new assistant controliect, said Phath Scarpino, presdent of Provast industries. "Just look at this teport that he prepored for last month for the Finshing Department. I can't understand it? He's struggling to learn our system," replied Frank Harrop, the operations manager. "The problem is that he's been away from process costing for a long time, and it's coming back slosly." It's not just the format of his report that I'm concerned about. Look at that 522.77 unit cost thst he's come up with for Apeil. Doesn't that seem high to you?r said Ms. Scarpino. tYes, it does seem high, but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation," replied Mr. Hanrop. "THl get someone else to redo this report and then we can see wbat's going on". Provost industries manufactures a ceramic product that goes through two processing departments-Molding and Finishing. The cempary uses the weighted-average method in its process costing. Required: company uses the weighted-average method in its process costing Required: 1-a. Calculate the equivalent units of production. 1.b. Calculate the cost per equivalent unit. (Round your answers to 2 decimal places.) 1-. How much cost should have been assigned to the ending work in process inventory? (Round your intermediate caiculations to 2 decimal places.) Hed. How much cost should have been assigned to the units completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places.) Analytical Thinking (Algo) [LO5-2, LO5-3, LO5-4] 7 think we poofed when we hired that new assistant controliect, said Phath Scarpino, presdent of Provast industries. "Just look at this teport that he prepored for last month for the Finshing Department. I can't understand it? He's struggling to learn our system," replied Frank Harrop, the operations manager. "The problem is that he's been away from process costing for a long time, and it's coming back slosly." It's not just the format of his report that I'm concerned about. Look at that 522.77 unit cost thst he's come up with for Apeil. Doesn't that seem high to you?r said Ms. Scarpino. tYes, it does seem high, but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation," replied Mr. Hanrop. "THl get someone else to redo this report and then we can see wbat's going on". Provost industries manufactures a ceramic product that goes through two processing departments-Molding and Finishing. The cempary uses the weighted-average method in its process costing. Required: company uses the weighted-average method in its process costing Required: 1-a. Calculate the equivalent units of production. 1.b. Calculate the cost per equivalent unit. (Round your answers to 2 decimal places.) 1-. How much cost should have been assigned to the ending work in process inventory? (Round your intermediate caiculations to 2 decimal places.) Hed. How much cost should have been assigned to the units completed and transferred to finished goods? (Round your intermediate calculations to 2 decimal places.) Step by Step Solution
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