Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nonuniform Inputs, Weighted Average Carter Inc. had the following production and cost information for its fabrication department during April (with materials added at the beginning

image text in transcribedimage text in transcribed

Nonuniform Inputs, Weighted Average Carter Inc. had the following production and cost information for its fabrication department during April (with materials added at the beginning of the fabrication process): 10,000 Production: Units in process, April 1, 50% complete with respect to conversion Units completed Units in process, April 30, 60% complete Costs: 65,200 12,000 $40,980 Work in process, April 1: Materials Conversion costs Total 15,200 $56,180 Current costs: Materials Conversion costs $125,000 210,000 Total $335,000 Carter uses the weighted average method. Required: 1. Prepare an equivalent units schedule. Carter Inc. Schedule of Equivalent Units (Weighted Average Method) Materials Units completed Add: Units in ending WIP x Percent complete Conversion % X % Equivalent units of output 2. Calculate the unit cost. Round all intermediate calculations and final answer to the nearest cent. per unit 3. Calculate the cost of units transferred out and the cost of EWIP. In your calculations round unit cost to the nearest cent and your final answers to the nearest dollar. Cost transferred out Cost of ending work in process

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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 Volume 1

Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

9th Canadian edition

978-013309863, 9780133128338, 013309863X, 133128334, 978-0132690096

Students also viewed these Accounting questions