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Please help! Thank you so much. Work shown would be widely appreciated for learning purposes. 3. (9 points) Anchor Inc. uses the weighted-average method in
Please help! Thank you so much. Work shown would be widely appreciated for learning purposes.
3. (9 points) Anchor Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month Work in process, beginning: 5,000 Costs in the beginning inventory: $67,000 $50,750 Conversion cost . Units started into production during the month Units completed and transferred out........................... 130,000 120,000 Costs added to production during the month: $500,000 $226,000 Work in procesS, ending: % of completion with respect to materials % of completion with respect to conversion 15,000 40% 20% Required: Prepare a process costing departmental production report (calculation of equivalent units, cost per equivalent unit, and cost reconciliation) for the department using the weighted-average method. Round the cost per unit to the nearest centStep by Step Solution
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