Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On May 1, the Dandy Company had a work-in-process inventory of 10,000 units. The units were 100% complete for material and 30% complete for conversion,

On May 1, the Dandy Company had a work-in-process inventory of 10,000 units. The units were 100% complete for material and 30% complete for conversion, with respective costs of $30,000 and $1,850. During the month, 150,000 units were completed and transferred to finished goods. The ending WIP inventory on May 31 consisted of 10,000 units. These latter units were 100% complete with respect to materials and 80% complete with respect to conversion. Costs added during the month were $330,000 for materials and $503,750 for conversion. Required: Using the weight-average method, calculate: A. Total equivalent units for materials and conversion B. The cost per equivalent unit for material and conversion C. The cost transferred to finished goods D. The cost of ending WIP

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_2

Step: 3

blur-text-image_3

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

Project Management Accounting

Authors: Kevin R Callahan, Gary S Stetz, Lynne M Brooks

2nd Edition

1118078209, 9781118078204

More Books

Students also viewed these Accounting questions

Question

1. Information that is currently accessible (recognition).

Answered: 1 week ago