Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need the required 1-4 Superior Micro Products uses the weighted average method in its process costing system. During January, the Delta Assembly Department completed its

Need the required 1-4 image text in transcribed
image text in transcribed
Superior Micro Products uses the weighted average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25.000 units and transferred them to the next department . The cost of beginning work in process inventory and the costs added during January amounted to $646,060 in total. The ending work in process inventory in January consisted of 3,000 units, which were 80% complete with respect to materials and 60% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows: Materials Cost per equivalent unit $ 13.70 $ 3.20 $ 6.90 Labor Overhead Required: 1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month 2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January 3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in total for January 4. Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning work in process inventory and costs added during the month) Required 1 Required 2 Required 3 Required 4 Prepare a cost reconciliation for January. Cost Reconciliation Total cost to be accounted for Costs accounted for as follows: Total cost accounted for

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

Auditor Because Freaking Miracle Worker Is Not A Job Title

Authors: Auditor Publishing

1st Edition

B0863X5YGQ, 979-8624478718

More Books

Students also viewed these Accounting questions