Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please complete all three parts/requirements and highlight The answers thank you. E17-31 (similar to) Question the Classic Clothing, Inc. is a manufacturer of winter clothes.
please complete all three parts/requirements and highlight The answers thank you.
E17-31 (similar to) Question the Classic Clothing, Inc. is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department Direct materials are added at the end of the process Conversion costs are added evenly during the process Classic uses the weighted average method of process costing. The following information for June 2017 is available (Click the icon to view the information) Read the requirements Requirement 1. Calculate equivalent units of transferred-inco de materials, and conversion costs. (Entera Forforary zero balances) Equivalent Units Physical Units Transferred in Direct Conversion (tons) Costs Materials Costs Work in process, beginning inventory (June 1) 90 156 Transferred in during June To account for Completed and transferred out during June Work in process, ending inventory (June 30) 170 75 Enter any number in the edit fields and then click Check Answer 3 parts remaining Clear All Check Answer Classic Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishin process. Conversion costs are added evenly during the process. Classic uses the weighted average method of process costing. The following informa (Click the icon to view the information.) Read the requirements Physical Units (tons) YUUICHE IL Transferred-In Direct Costs Materials Conversion Costs 90 155 Work in process, beginning inventory (June 1) Transferred in during June To account for Completed and transferred out during June Work in process, ending inventory (June 30) 170 75 Accounted for Equivalent units work done to date Enter any number in the edit fields and then click Check Answer. 3 parts Clear All remaining no Question Help er of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the evenly during the process. Classic uses the weighted average method of process costing. The following information for June 2017 is available. tion.) * Requirements LYUKI Transferred-In Direct Costs Materials Physical Units (tons) 90 155 (June 1) 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. 3. Assign costs to units completed (and transferred out) and to units in ending work in process. June LL 170 75 une 30) Print Done and then click Check Answer Clear All Check Answer Data Table - X anufacturel e added a e informati material vailable B D E Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs 90 $ 99,000 $ 0 $ 45,000 100% 0% 50% nventory 155 2 Work in process, beginning inventory (June 1) Degree of completion, beginning work in 3 process 4 Transferred-in during June 5 Completed and transferred out during June 6 Work in process, ending inventory (June 30) 7 Degree of completion, ending work in process 8 Total costs added during June 170 75 100% 0% 60% Dut during entory (Jun $ 170,000 $ 42,500 $ 90,100 Print Done to date it fields and then click Check Answer Clear All E17-31 (similar to) Question Help Classic Clothing, Inc. is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department Direct materials are added at the end of the pages. Conversion costs are added everly during the process Classes the weighted average method of process costing. The following Wormation for June 2017 is avaiatio Click the icon to view the information) Read the requirements Equivalent Units Physical Units Transferred in Direct Conversion Itons) Costs Materials Costs Work in process, beginning inventory (June 1) 90 155 Transferred in during June To account for 170 Completed and transferred out during June 75 Work in process, ending inventory (June 30) Accounted for Equivalent units work done to date Enter any number in the edit fields and then click Check Answer Clear All Check Answer 3 parts remaining Step 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