Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help thankyou :) Hi-T Company uses the weighted average method of process costing, Information for the company's first production process follows All direct materials
please help thankyou :)
Hi-T Company uses the weighted average method of process costing, Information for the company's first production process follows All direct materials are added at the beginning of this process, and conversion costs are added uniformly throughout the process. Direct Materials Conversion Percent Percent Unita Complete Beginning work in process inventory Complete 2,000 1000 BON Completed and transferred out 23,000 Ending work in process inventory 7,000 1000 400 Beginning work in process Direct materials $ 45,000 Conversion 56,320 $ 101,320 Conto added this period Direct materials 375,000 Conversion 341,000 716.000 $ 817,320 Total costs to account for a. Compute the equivalent units of production for both direct materials and conversion b. Compute the cost per equivalent unit for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process Inuinton 145.00 added the Bict Lensin Conversion Total cost to account for 375.000 OBS a. Compute the equivalent units of production for both direct materials and conversion b. Compute the cost per equivalent unit for both direct materials and conversion c. Assign costs to the department's output-specifically, to the units transferred out and to the units indigo Inventory Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the equivalent units of production for both direct materials and conversion Equivalent Unitor Production Weighted average Direct Materials Units Percent EUP Complete Conversion Percent EUR Complete Total Route Required B > Prev 1 of 20 Next > MacBook Air MENU yemy your answers in the tabs below. Required A Required Required C Compute the cost per equivalent unit for both direct materials and conversion (Round "Cost per EUP" to 2 decimal places.) Coat per Equivalent Unit of Production Direct Materials Conversion Total costs + Equivalent units of production Cost per equivalent unit of production and then Complete this question by entering your answers in the tabs below Required A Required Requidc Assign costs to the department's output-specifically, to the units transferred out and to the unitsing process Inventory. (Round "Cost per Eup to 2 decimal places) Costassignment-Weighted average EUP Cost per EUP Total cost ferences Completed and transferred out Direct materials Conversion Total completed and transferred out Ending work in process Direct materials Conversion Total ending work in process Total costs accounted for $ RU 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