Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kramer Corp. began the current period with 4,040 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs

Kramer Corp. began the current period with 4,040 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,550 in direct materials and $4,780 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,080 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,000 in direct materials costs, $7,080 in direct labor costs, and $41,700 in manufacturing overhead costs during the period. Required: a. Using the weighted average method, compute the equivalent units of production for materials. Equivalent Units b. Using the weighted average method, compute the equivalent units of production for conversion. Equivalent Units c. Using the weighted average method, compute the cost per equivalent unit for materials. (Round your answer to 2 decimal places.) Cost per Equivalent Unit d. Using the weighted average method, compute the cost per equivalent unit for conversion. (Round your answer to 2 decimal places.) Cost per Equivalent Unit c. Using the weighted average method, compute the cost per equivalent unit for materials. (Round your answer to 2 decimal places.) Cost per Equivalent Unit d. Using the weighted average method, compute the cost per equivalent unit for conversion. (Round your answer to 2 decimal places.) Cost per Equivalent Unit e. Using the weighted average method, compute the cost assigned to ending Work in Process Inventory. (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Cost Assigned f. Using the weighted average method, compute the cost assigned to goods completed and transferred out. (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Cost Assigned

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Becoming An Unstoppable Woman In Finance 29 Strategic Financial Experts

Authors: Hanna Olivas, Adriana Luna Carlos, Heather Stokes, Lisa Chastain, Jennifer Lara, Shannon Lavenia, Althia Lopez, Heather Jackson, Annette Morris, Rebecca Chandler

1st Edition

979-8986936703

More Books

Students also viewed these Accounting questions

Question

1. Discuss the four components of language.

Answered: 1 week ago

Question

f. What stereotypes were reinforced in the commercials?

Answered: 1 week ago