Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kramer Corporation began the current period with 4.120 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs

image text in transcribed
Kramer Corporation began the current period with 4.120 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,510 in direct materials and $4,770 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 21,400 units completed and 5,140 units still in process, Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,600 in direct materials costs, $7,130 in direct labor costs, and $40,100 in manufacturing overhead costs during the period. Required: a. Using the weighted-average method, compute the equivalent units of production for materials. b. Using the weighted-average method, compute the equivalent units of production for conversion. c. Using the weighted-average method, compute the cost per equivalent unit for materials. Note: Round your answer to 2 decimal places. d. Using the weighted-average method, compute the cost per equivalent unit for conversion. Note: Round your answer to 2 decimal places. e. Using the weighted-average method, compute the cost assigned to ending Work in Process Inventory. Note: Round your intermediate calculations to 2 decimal places. f. Using the weighted-average method, compute the cost assigned to goods completed and transferred out. Note: Round your intermediate calculations to 2 decimal places

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

Frank Woods Business Accounting Volume 1

Authors: Alan Sangster, Frank Wood

13th Edition

1292084669, 9781292084664

More Books

Students also viewed these Accounting questions

Question

Where to put the insulations using the legend

Answered: 1 week ago