Kingsville Brewery Co-Operative experienced the following activity in its Initial Brewing Department during December. Ingredients (Materials)...
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Kingsville Brewery Co-Operative experienced the following activity in its Initial Brewing Department during December. Ingredients (Materials) are added at the beginning of the brewing process. Units: Work in process, December 1 (80% of the way through the process) Transferred in from the Initial Pre-Brewing and Sterlizing Department during December Completed during December Work in process, December 31 (70% of the way through the process Costs: Work in process, December 1 (transferred in costs, $20,200; direct materials costs, $20,240; and conversion costs, $19,100) Transferred in from the Initial Pre-Brewing and Sterlizing Department during December Direct Materials added during December Conversion costs added during December Requirements (Hint: Use same format as in Homework Questions) 5,500 units 30,000 units ? units 9,000 units $59,700 97,200 73,360 90,500 1. Summarize flow of physical units and compute total equivalent units using the weighted average method for three cost categories: Transferred In, Direct Materials, And Conversion Costs. (15 marks) 2. Summarize total costs to account for and compute the cost per equivalent unit for each cost category. (8 marks) Kingsville Brewery Co-Operative experienced the following activity in its Initial Brewing Department during December. Ingredients (Materials) are added at the beginning of the brewing process. Units: Work in process, December 1 (80% of the way through the process) Transferred in from the Initial Pre-Brewing and Sterlizing Department during December Completed during December Work in process, December 31 (70% of the way through the process Costs: Work in process, December 1 (transferred in costs, $20,200; direct materials costs, $20,240; and conversion costs, $19,100) Transferred in from the Initial Pre-Brewing and Sterlizing Department during December Direct Materials added during December Conversion costs added during December Requirements (Hint: Use same format as in Homework Questions) 5,500 units 30,000 units ? units 9,000 units $59,700 97,200 73,360 90,500 1. Summarize flow of physical units and compute total equivalent units using the weighted average method for three cost categories: Transferred In, Direct Materials, And Conversion Costs. (15 marks) 2. Summarize total costs to account for and compute the cost per equivalent unit for each cost category. (8 marks)
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Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
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