Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kenton Industrial Corporation uses the weighted average method in its process costing system. During April, the Baker Assembly Department completed its processing of 25,400 units
Kenton Industrial Corporation uses the weighted average method in its process costing system. During April, the Baker Assembly Department completed its processing of 25,400 units and transferred them to the next department. The cost of beginning inventory and the costs added during April amounted to $650,256 in total. The ending inventory in April consisted of 2,800 units, which were 70% complete with respect to materials and 50% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Materials Labor Overhead Cost per equivalent $ 12.60 $4.30 $ 7.10 unit Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending inventory for the month. Materials Labor Overhead Equivalent units in ending inventory 2. Compute the cost of ending inventory and of the units transferred to the next department for April. (Omit the "$" sign in your response.) Materials Labor Overhead Total Cost of ending inventory Cost of units completed and transferred out 3. Prepare a cost reconciliation for April. (Note: You will not be able to break the cost to be accounted for into the cost of beginning inventory and costs added during the month.) (Omit the "$" sign in your response.) Cost Reconciliation Total cost to be accounted for Costs accounted for as follows: (Click to select) ((Click to select) Total cost accounted for A
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started