Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

------------> I nput excel formulas into the yellow highlights cells in the excel worksheets, instead of numbers --------------------------> I nput excel formulas into the yellow

------------> Input excel formulas into the yellow highlights cells in the excel worksheets, instead of numbers

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

--------------------------> Input excel formulas into the yellow highlights cells in the excel worksheets, instead of numbers A company uses the weighted average method of process costing. It had 40,000 units in beginning inventory, which were 70% complete as to materials and 80% complete as to conversion. During the month, it started 110,000 units. At the end of the month, 32,000 units were in inventory, which were 65% complete as to materials and 60% complete as to 4 conversion. Cost information is as follows: \begin{tabular}{|l|r|r|r|} \hline & Units & Materials % & Convension % \\ \hline Beginning Inventory & 40,000 & 70% & 80% \\ \hline Units Started & 110,000 & & \\ \hline Ending Inventory & 32,000 & 65% & 60% \\ \hline \end{tabular} \begin{tabular}{ll|l|} \hline Equivalent Units of Production & & \multicolumn{2}{l}{ Direct } \\ \hline Equivalent units completed and transferred out & & \\ \hline Equivalent units for ending work in process & & \\ \cline { 2 - 3 } Total equivalent units of production & & \\ \cline { 2 - 4 } & & \end{tabular} Cost per Equivalent Unit of Production Direct material Conversion Costs of beginning work in process inventory Costs added during month Total costs Equivalent Units of Production Cost per Equivalent Units of Production \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline \end{tabular} Assign and reconcile costs Cost of units completed and transferred out Direct materials Conversion Total cost of units completed this period Cost of units in ending inventory Direct materials Conversion Total cost of units completed this period Total costs accounted for

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Advanced Accounting

Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik

10th edition

0-07-794127-6, 978-0-07-79412, 978-0077431808

Students also viewed these Accounting questions