Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help due tonight!! Sunland Processing Company uses the weighted average method and manufactures a single product-an industrial carpet shampoo used by many universities. The

Please help due tonight!!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Sunland Processing Company uses the weighted average method and manufactures a single product-an industrial carpet shampoo used by many universities. The manufacturing activity for the month of October has just been completed. A partially completed production cost report for the month of October for the Mixing and Cooking Department is as follows. Beginning work in process is 100% complete for direct materials and 70% complete for conversion costs. Ending work in process is 60% complete for direct materials and 40% complete for conversion costs. (a) a Prepare a schedule that shows how the equivalent units were computed so that you can complete the "Quantities: Units accounted for equivalent units section shown in the production cost report, and compute October unit costs. (Round unit costs to 2 decimal places, e.g. 2.25 and other answers to decimal places, e.g. 125.) SUNLAND PROCESSING COMPANY Mixing and Cooking Department Production Cost Report For the Month Ended October 31, 2022 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process: October 1 Call materials. 70% conversion costs) 18.800 FUT LE MON nueu code 17 ZUZZ Equivalent Units Physical Units Materials Conversion Costs Quantities Units to be accounted for Work in process, October 1 (all materials, 70% conversion costs) Started into production Total units to be accounted for 18,800 141,000 159,800 Units accounted for 112,800 Completed and transferred out Work in process, October 31 (60% materials, 40% conversion costs) 47,000 Total units accounted for 159,800 Costs Materials Conversion Costs Unit costs Total Costs tou% materials, 40% conversion costs 47000 Total units accounted for 159,800 Costs Conversion Costs Materials Unit costs Total Costs $239,700 $98.700 Equivalent units Unit costs $ I $ Costs to be accounted for Work in process, October 1 Started into production Total costs to be accounted for 112,800 $) 47,000 159,800 Materials Conversion Costs Total $239,700 $98,700 $338,400 GA $ TA $28,200 296,100 $324,300

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cloud Computing Data Auditing Algorithm

Authors: Manjur Kolhar, Abdalla Alameen, Bhawna Dhupia, Sadia Rubab, Mujthaba Gulam

1st Edition

1946983144, 978-1946983145

More Books

Students also viewed these Accounting questions