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Parts 1-4 please Weighted-Average Method The T. L. Lin Company manufactures a variety of natural fabrics for the clothing industry in a suburb of Shanghai.
Parts 1-4 please
Weighted-Average Method The T. L. Lin Company manufactures a variety of natural fabrics for the clothing industry in a suburb of Shanghai. The following data in Chinese currency called yuan pertain to the month of October. Work-in-process inventory, October 1 Direct materials: 60% complete Conversion: 30% complete Costs incurred during October 50,000 units 55,440 yuan 54,425 yuan 820,400 yuan 1,350,600 yuan Direct materials Conversion During October, 200,000 units were completed and transferred out. At the end of the month, 30,000 units (direct materials 80% and conversion 50% complete) remain in work-in-process inventory Required Calculate each of the following amounts using weighted-average process costing. 1. Equivalent units of direct materials and conversion 2. Unit costs of direct materials and conversion 3. Cost of goods completed and transferred out during October. 4. Cost of the work-in-process inventory at October 31Step by Step Solution
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