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Most things need to be done In either Excel or Microsoft word 17-41 Weighted average method. McKnight Handcraft is a manufacturer of picture frames for
Most things need to be done In either Excel or Microsoft word
17-41 Weighted average method. McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem focuses on the assembly department. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect-cost category (conversion costs). Direct materials are added when the assembly department process is 10% complete. Conversion costs are added evenly during the assembly department's process. McKnight uses the weighted average method of process costing. Consider the following data for the assembly department in April 2017: Physical Unit Direct Conversion (Frames) Materials Costs Work in process, April 1 60 $ 1,530 $ 156 Started during April 2017 510 Completed during April 2017 450 Work in process, April 300 120 Total costs added during April 2017 $17,850 $11,544 aDegree of completion: direct materials, 100%; conversion costs, 40%. bDegree of completion: direct materials, 100%; conversion costs, 15%. 1. Summarize the total assembly department costs for April 2017, and assign them to units completed (and transferred out) and to units in ending work in process. Required 2. What issues should a manager focus on when reviewing the equivalent units calculationStep by Step Solution
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