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Please finish the rest of the problem and requirement. = Homework: Chapter 18 Exercises Question 5, E18-24 (boo.. Part 4 of 5 HW Score: 70.94%,
Please finish the rest of the problem and requirement.
= Homework: Chapter 18 Exercises Question 5, E18-24 (boo.. Part 4 of 5 HW Score: 70.94%, 14.19 of 20 points Points: 1.19 of 3 Save Consider the following data for November 2017 from MacLean 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. MacLean Manufacturing Company uses the FIFO method of process costing. (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Read the requirement. - X Data table Begin by summarizing the total costs to account for Equivalent Units Direct Conversion Total Direct Conversion Production Costs Materials Costs $ 1,677' $ 966 711 40,357 10,302 30,055 Flow of Production Materials Costs Work in process, beginning Costs added in current period 0 743 $ 42.034 $ 11.268's 30,766 Total costs to account for 7,450 7,450 Next, calculate cost per equivalent unit for direct materials and conversion costs. (Round your answers to the nearest cent.) Good units completed and transferred out during current period: From beginning work in process Started and completed Normal spoilage Abnormal spoilage Work in process, ending Work done in current period only 80 80 50 1,700 50 595 Direct Conversion Materials Costs $ 10,302 $ 30,055 9,280 8,918 9,280 8,918 Costs added in current period Divide by: Equivalent units of work done in current period $ 1.11 $ 3.37 Cost per equivalent unit Print Done Costs $711 Now assign costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process. (Complete all input fi Total Direct Conversion Production Costs Materials Costs Completed and transferred out: Work in process, beginning $ 1,677 $ 966 $ 711 Costs added to beginning inventory before normal spoilage 2.504 0 2,504 Total from beginning inventory before normal spoilage 4.181 Started and completed before normal spoilage Normal spoilage 359 89 270 Total costs of units completed and transferred out (Pennants) Materials Work in process, November 1 1,350 $966 Started in November 2017 ? Good units completed and transferred out during November 2017 8,800 Normal spoilage 80 Abnormal spoilage 50 Work in process, November 30 1,700 Total costs added during November 2017 $10.302 Degree of completion direct materials, 100%; conversion costs, 45%. Degree of completion direct materials, 100%; conversion costs, 35% $30,055 - X Requirement 0 Print Done 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. Help me solve this Etext pages Get more swerStep by Step Solution
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