Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help with Hw problem , need explanations if possible please and thank you Consider the following data for November 2017 from MacLean Manufacturing Company,
Please help with Hw problem , need explanations if possible please and thank you
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. Suppose MacLean Manufacturing Company uses the FIFO method of process costing. E: (Click the icon to view the data.) Physical Units Direct Conversion (Pennants) Materials Costs Work in process, November 18 1,350 $966 $711 Started in November 2017 Good units completed and transferred out during November 2017 8,800 Normal spoilage Abnormal spoilage 50 Work in process, November 300 1,700 Total costs added during November 2017 $10,302 $30,055 Degree of completion: direct materials, 100%; conversion costs, 45%. Degree of completion: direct materials, 100%; conversion costs, 35%. 80 Enter the physical units in first, then calculate the equivalent units. (Complete all answer boxes. Enter a "0" for any zero Physical Flow of Production Units Work in process, beginning Started during current period To account for 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 Accounted for Equivalent units of work done in current period M Enter any number in the edit fields and then click CheckStep 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