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I tried cost incurred to date/ equivalent units and it said one or more labels are incorrect. I'm not sure how to proceed. Physical Units
I tried cost incurred to date/ equivalent units and it said one or more labels are incorrect. I'm not sure how to proceed.
Physical Units Direct Conversion Direct Conversion Materials (Car Seats) Costs Materials Costs 5,500 $1,369,500 $532,125 Work in process, October 1a Started during October 2017 Completed during October 2017 20 18,500 21,500 2,500 $ 5,088,000 $ 2,590,000 Costs incurred to date 24,000 23,125 Divide by equivalent units of work done to date Work in process, October 31 Total costs added during October 2017 212 $ $ $3,718,500 a Degree of completion: direct materials, ?%; conversion costs, 50% Degree of completion: direct materials, ?%; conversion costs, 65%. $2,057,875 112 er Cost per equivalent unit for work done to date st Direct Total Conversion Production Costs Materials Costs $ 4,558,000 $ Completed and transferred out 6,966,000 $ 2,408,000 Print Done 712,000 530,000 182,000 Work in process, ending 5,088,000 $ $ 7,678,000 $ 2,590,000 Total costs acCounted for 1. For each cost category, compute equivalent units in the assembly department. Show physical units in the first column of your schedule. 2. For each cost category, summarize total assembly department costs for October 2017 and calculate the cost per equivalent unit. Print Done 3. Assign total costs to units completed and transferred out and to units in ending work in process 4. Explain any difference between the cost per equivalent unit in the assembly department under the weighted-average method and the FIFO method. 5. Should Preston's managers choose the weighted-average method or the FIFO method? Explain briefly. Data for the assemb Preston Company manufactures car seats in its Miami plant. Each car seat passes through the assembly department and the testing department. This problem focuses on the assembly department. (Click the icon t i(Click the icon to view information about Preston Company's process-costing system.) (Click the icon t Read the requireme Requirement 2. For each cost category, summarize total assembly department costs for October 2017 and calculate the cost per equivalent unit Begin by summarizing the total costs to account for Conversion Total Direct Production Costs Materials Costs 1,901,625 $ Work in process, beginning 1,369,500 $ 532,125 5,776,375 2,057,875 3,718,500 Costs added in current period 7,678,000 $ 5,088,000 $ $ 2,590,000 Total costs to account for Next calculate cost per equivalent unit for direct materials and conversion costs. Direct Conversion Materials Costs Costs incurred to date equivalent units of work done in current period Divide by Cost per equivalent unit for work done in current period Choose from any list or enter any number in the input fields and then click CheckStep by Step Solution
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