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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.
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 $ 4,950.00Step by Step Solution
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