Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Larsen company manufactures car seats in its San Antonio plant. Each car seat passes through the Assembly department and the Testing Department. This problem focuses

Larsen company manufactures car seats in its San Antonio plant. Each car seat passes through the Assembly department and the Testing Department. This problem focuses on the Assembly Department. The process-costing system at Larsen Company has a single direct-cost category ( direct materials) and a single indirect-cost category (conversion costs). Direct materials are added at the beginning of the process. Conversion costs are added evenly during the process. When the Assembly Department finishes work on each car seat, it is immediately transferred to Testing. Larsen Company uses the weighted-average method of process costing. Data for the Assembly Department for October 2009 are: the physical units are the car seats Physical Units Direct Materials Conversion Costs work in process october 1(a) 5,000 $1,250,000 $402,750 started during october 2009 20,000 completed during october 2009 22,500 work in process october 31(b) 2,500 total costs added during october 2009 $4,500,000 $2,337,500 a-degree of completion: direct materials ?%: conversion costs, 60% b-degree of completion: direct materials ?%: conversion costs, 70% 1. For each costs category, compute equivalent units in the Assemly Department. Show physical units in the first column of your schedule. 2 For each cost category, summerize total Assembly Department costs for October 2009 and calculate the cost per equivalent unit. 3. Assign total costs to units completed and transferred out and to units in ending work in process. Its from Cost Accounting A Managerial Emphasis 13th ed. Charles T Horngren. Problem 17-30

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

Accounting Principles Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

8th Canadian Edition

111950242X, 1-119-50242-5, 978-1119502425

More Books

Students also viewed these Accounting questions

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago

Question

1. Background knowledge of the subject and

Answered: 1 week ago