Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE HURRY!!!!! I WILL INSTANTLY UPVOTE!!!! Kramer Corporation began the current period with 4,190 units in process that were 100% complete as to materials and

PLEASE HURRY!!!!! I WILL INSTANTLY UPVOTE!!!! image text in transcribed
Kramer Corporation began the current period with 4,190 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,630 in direct materials and $4,870 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,180 units still in proces5. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $69,000 in direct materials costs, $7,010 in direct labor costs, and $41,500 in manufacturing overhead costs during the period. Required: a. Using the weighted-average method, compute the cquivalent units of production for materials. b. Using the weighted-average method, compute the equivalent units of production for conversion. c. Using the weighted-average method, compute the cost per equivalent unit for materials. Note: Round your answer to 2 decimal places. d. Using the weighted-average method, compute the cost per equivalent unit for conversion. Note: Round your answer to 2 decimal places. e. Using the weighted-average method, compute the cost assigned to ending Work in Process Inventory Note: Round your intermediate calculations to 2 decimal places. f. Using the weighted-average method, compute the cost assigned to goods completed and transferred out. Note: Round your intermediate calculations to 2 decimal places

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

Quality Audit Standard Requirements

Authors: Gerardus Blokdyk

1st Edition

0655170898, 978-0655170891

More Books

Students also viewed these Accounting questions

Question

3. What should a contract of employment contain?

Answered: 1 week ago

Question

1. What does the term employment relationship mean?

Answered: 1 week ago