Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Out Al the end of the month, Lakeshore Company calculated equivalent units of production for the second department of the production process as shown below

image text in transcribed
Out Al the end of the month, Lakeshore Company calculated equivalent units of production for the second department of the production process as shown below UNITS Equivalent Units Equivalent Units Equivalent Units Units accounted for Transferred in Direct Materials Costs Conversion Costs Completed and transferred 15,300 15,300 15,300 Ending work-in-process 1,700 1,360 1.190 17,000 16,660 16.490 The cost per equivalent unit using the weighted average method is 57.75 for material costs, 89.50 for conversion costs, and $6.65 for the units transferred in. What is the total cost of the units in ending work-in-process and the total cost of the units completed and transferred out? OA. $34.0085 and 5398,820 OB. 5163 803,5 and $376,975 OC. $33,150 and $365,670 OD 5134 895 and $406,300

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

Intermediate Accounting Reporting And Analysis, 2017 Update

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

2nd Edition

1337505625, 9781337505628

More Books

Students also viewed these Accounting questions

Question

How do you identify yourself culturally?

Answered: 1 week ago