Question
Katrisse Company employs process costing and uses the weighted-average method to cost its inventory. Raw materials are added at the beginning of the process. At
Katrisse Company employs process costing and uses the weighted-average method to cost its inventory. Raw materials are added at the beginning of the process. At the beginning of the period, the company had 670 units in its work in process inventory. Of that amount, 64% was complete with respect to conversion costs. In addition, the company started another 1,080 units during the period. Ignore transferred-in costs.
Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole unit. a) If Katrisse finished and transferred out 1,090 units to finished goods, how many units were in ending inventory?
Inputs | Outputs | |||||
Beginning WIP | Add Current Month | Total Production | Completed Transfer Out | Ending WIP | Total Outputs | |
Direct Materials Units | Answer | Answer | Answer | Answer | Answer | Answer |
b) What are the equivalent units of production for materials and conversion costs, assuming that the ending inventory is 49% complete as to conversion cost?
Inputs | Outputs | |||||
Beginning WIP | Add Current Month | Total Production | Completed Transfer Out | Ending WIP | Total Outputs | |
Direct Materials Units | Answer | Answer | Answer | Answer | Answer | Answer |
% Equivalent Completed | Answer% | Answer% | ||||
Conversion Equivalent Units | Answer | Answer | Answer | Answer |
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