Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer questions 4 5 and 6 roblem Four: (5 points) Algoma, Inc. uses a process costing system. During May, 1,200 transferred into Department 2
please answer questions 4 5 and 6
roblem Four: (5 points) Algoma, Inc. uses a process costing system. During May, 1,200 transferred into Department 2 at a cost of $38,040. Direct materials are added at the begin process. Additionally On May 1 Beginning inventories-250 units, 40% complete Direct materials costs $1,250 Conversion costs $1,356 Transferred-in costs $2,560 During May: Direct materials costs incurred $6,000 Conversion costs incurred $17,013 On May 31: Ending inventories-350 units, 20% complete Using the weighted average method, calculate the cost per equivalent unit for materials. Problem Five: (5 points) Algoma, Inc. uses a process costing system. During May, 1,200 units were transferred into Department 2 at a cost of $38,040. Direct materials are added at the beginning of the process. Additionally On May 1: Beginning inventories-250 units, 40% complete Direct materials costs $1,250 Conversion costs $1,356 Transferred-in costs $2,560 During May: Direct materials costs incurred $6,000 Conversion costs incurred $17,013 On May 31: Ending inventores-350 units, 20% complete Using the weighted average method, calculate the cost of the units transferred out. Problem 6: (5 points) Algoma, Inc uses a process costing system. During May, 1,200 units were transferred into Department 2 at a cost of $38,040. Direct materials are added at the beginning of the process. Additionally On May 1: Beginning inventories-250 units, 40% complete Direct materials costs $1.250 Conversion costs $1,356 Transferred-in costs = $2,560 During May: Direct materials costs incurred $6,000 Conversion costs incurred $17,013 On May 31 Ending inventories-350 units, 20% complete Using the weighted average method, calculate the cost of the ending work in process inventory Prohlem SeStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started