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Please answer ALL requirements. E18-18 (final answer) 3 Question Help Consider the following data for November 2014 from McKnight Manufacturing Company, which makes silk pennants
Please answer ALL requirements.
E18-18 (final answer) 3 Question Help Consider the following data for November 2014 from McKnight Manufacturing Company, which makes silk pennants and uses a process-costing system. All direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of at zero net disposal value. McKnight Manufacturing Company uses the weighted average method of process costing. B: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Requirement Summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work-in-process inventory. Begin by summarizing the total costs to account for. Direct Total Production Costs Conversion Costs Total costs to account for Enter any number in the edit fields and then click Check Answer. parts 2 remaining Clear All Check Answer Data Table Direct Materials $1,423 Conversion Costs $1,110 Physical Units (Pennants) Work in process, November 1" 1,000 Started in November 2014 Good units completed and transferred out during November 2014 9,000 Normal spoilage 100 Abnormal spoilage 50 Work in process, November 30 2,000 Total costs added during November 2014 Degree of completion: direct materials, 100%; conversion costs, 50%. Degree of completion direct materials, 100%; conversion costs, 30%. $12,180 $27,750 Print Done 0 Data Table Flow of Production Completed and transferred out during current period Normal spoilage Abnormal spoilage Equivalent Units Direct Conversion Materials Costs 9,000 9,000 100 50 2,000 600 11,150 9,750 100 Work in process, ending Equivalent units of work done to date Print DoneStep by Step Solution
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