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Need last part ) E17-25 (similar to) The assembly division of Walton Time Pieces, Inc. uses the weighted average method of process costing. Consider the
Need last part
) E17-25 (similar to) The assembly division of Walton Time Pieces, Inc. uses the weighted average method of process costing. Consider the following data for the month of May 2017: E: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Read the requirement. Begin by summarizing the total costs to account for. Work in process, beginning Total Direct Conversion Production Costs Materials Costs $ 503,750 $ 432,500 $ 71,250 4,620,000 3,225,000 1,395,000 5,123,750 $ 3,657,500 $ 1,466,250 Costs added in current period Total costs to account for Next, calculate cost per equivalent unit for direct materials and conversion costs. Costs incurred to date Direct Conversion Materials Costs $ 3,657,500 $ 1,466,250 550 510 $ 6,650 $ 2,875 Divide by equivalent units of work done to date Cost per equivalent unit Finally, assign total costs to units completed (and transferred out) and to units in ending work in process. Direct Conversion Total Production Costs Materials Costs Completed and transferred out Work in process, ending Total costs accounted for A Reference Equivalent Units Direct Conversion Physical Flow of Production Units Materials Costs Completed and transferred out during current period 470 470 470 80 125 Work in process, ending 595 Accounted for 550 510 Work done to date Print DoneStep by Step Solution
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