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If you could please assign total costs to units completed? (and transferred? out) and to units in ending work in process. Thanks! The assembly division
If you could please assign total costs to units completed? (and transferred? out) and to units in ending work in process. Thanks!
The assembly division of Gannett Watches, Inc., uses the weighted-average method of process costing. Consider the following data for the month of May 2014 EE (Click the icon to view the data.) (Click the icon to view the equivalent unit com putation.) Requirement Summarize the total costs to account 1Data Table sts to the units completed (and transferred out) and units in ending work in process Reference Begin by summarizing the total costs Physical Units Direct Conversion (Wa tches) Materials Costs Equivalent Units 95 490 455 130 $521,450 $114,350 Beginning work in process (May 1)a Started in May 2014 Completed during May 2014 Ending work in process (May 31) Total costs added during May 2014 "Degree of completion: direct materials, 90%; conversion costs, 40% "Degree of completion: direct materials, 70%; conversion costs, 30% Total costs to account for Physical Direct Conversion Physic Direct Conversion Next calculate cost per equivalent un Flow of Production Units Materials Costs $3,205,000 $1,380,000 Completed and transferred out during current period Work in process, ending Accounted for Work done to date 455 130 585 455 455 91 39 Cost per equivalent unit Finally assign total costs to units co Print Done 546 494 Production Costs Materials Costs Print Done Completed and transferred out Work in process, endingStep by Step Solution
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