Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

P6-5 to Cost of completed units and ending inventory Green Products Inc. What am I during wrong with the complete units, inventory November 30 and

P6-5 to Cost of completed units and ending inventory Green Products Inc. image text in transcribed

image text in transcribed

What am I during wrong with the complete units, inventory November 30 and total equivalent units?

P6-5 Cost of completed units and ending inventory Green Products Inc. cans peas and uses the weighted average cost method. For the month of November, the company showed the following: Peas completed and canned. 245,000 lb Peas in process at the end of November: 100% complete as to peas, 50% complete as to labor and overhead, 0% complete as to cans 16,500 lb Cost data: Peas $.10 per equivalent pound Labor $.25 per equivalent pound Overhead $. 15 per equivalent pound Cans. $.07_per_can Each can contains 16 oz, or 1 lb, of peas. Required: 1. Calculate the cost of the completed production for November. 2. Show the detailed cost of the ending inventory for November. When totals and subtotals are correct the cell will change to green. Problem 6-5 Cans 17,150 Completed units Inventory, November 30 Total equivalent units Peas 24,500 1,650 26,150 Labor 61,250 2,063 63,313 Overhead 36,750 1,238 37,988 17,150 Peas 0.10 $ Labor Overhead 0.25 $ 0.15 $ Cans 0.07 $ Total 0.57 Unit costs $ 1. Completed cost of production (units completed x total unit cost) $ 139,650 2. Cost of ending inventory, November 30: Peas Labor Overhead Cans Total cost of ending inventory $ 1,650.00 2,062.50 1,237.50 $ 4,950.00

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

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds

10th Edition

126410068X, 9781264100682

More Books

Students also viewed these Accounting questions

Question

0.000023 Write the number in scientific notation.

Answered: 1 week ago

Question

Do not get married, wait until I come, etc.

Answered: 1 week ago

Question

Do not come to the conclusion too quickly

Answered: 1 week ago

Question

Engage everyone in the dialogue

Answered: 1 week ago