Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I will upload the question answer it please answer it , look at the attachment .. process. Suppose the accounting records of a Frito-Lav plant

I will upload the question answer it please answer it , look at the attachment ..

image text in transcribed
process. Suppose the accounting records of a Frito-Lav plant provided the following information for corn chips in its drving and packaging department during a weeklv period lweek3?]: thsicel Unite Transferred-in Direct Conversion {cases} Costs Materials costs Beginning work in process, week 3?* 1,250 $23,000 3 0 $ 5.050 Transferred in during week 3? from cooking department 5.000 Completed during week 3? 5.250 Ending work in process, week 3?\"r 1,000 Costs added during week 3? $96,000 $25,200 $33,400 ilDegree of completion: transferredin costs. 100%: direct materialsI His: conversion costs, 30%. iDegree of completion: transferredin costs. Hit: direct materialsI HE; conversion costs. 40%. Required 1. Using the weighted-average method. summarize the total drving and packaging department costs for week 3?, and assign total costs to units completed [and transferred outl and to units in ending work in process. 2. Assume that the F|F0 method is used for the drving and packaging department. Under F|F0r the transferred-in costs for work-in-process beginning inventorv in week 3? are 328,920 [instead of $20,000 underthe weighted-average medtod].and thetransferred-in costs during the weekfrom the cooking depart- ment are $54,\" {instead of SHEEN under the weightedaverage method}. All other data are unchanged. Summarize dte total drving and packaging department costs for week 3? and assign total costs to units completed and transferred out and to units in ending work in process using the FIFD method

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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions

Question

What is Bacons approach to scientific methodology?

Answered: 1 week ago