Question
Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The
Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 70% complete with respect to conversion; the ending work-in-process inventory is 10% complete. The following data pertain to May:
| Units | |||||||||||
| Work in process, May 1 | 15,200 | ||||||||||
| Units started during May | 66,800 | ||||||||||
| Units completed and transferred out | 73,100 | ||||||||||
| Work in process, May 31 | 8,900 | ||||||||||
| Total | Direct Materials | Conversion Costs | |||||||||
| Costs: | |||||||||||
| Work in process, May 1 | $ | 56,600 | $ | 22,700 | $ | 33,900 | |||||
| Costs incurred during May | 328,400 | 78,400 | 250,000 | ||||||||
| Totals | $ | 385,000 | $ | 101,100 | $ | 283,900 | |||||
Using the weighted-average method of process costing, the equivalent units of conversion activity total:
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Taxation Of Individuals And Business Entities 2019 Edition
Authors: Brian C. Spilker, Benjamin C. Ayers, John Robinson, Edmund Outslay, Ronald G. Worsham, John A. Barrick, Connie Weaver
10th Edition
1259918394, 978-1259918391
