Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please make sure to submit to me for my review in EXCEL format. Thanks, Please Submit for MY review in EXCEL Format Straightforward Weighted- Average

Please make sure to submit to me for my review in EXCEL format. Thanks, image text in transcribed

Please Submit for MY review in EXCEL Format Straightforward Weighted- Average Process Costing; Step-by-Step Approach Moravia Company processes and packages cream cheese. The following data have been compiled for the month of April. Conversion activity occurs uniformly throughout the production process. 4 Work in process, April 110,000 units: Direct material: 100% complete, cost of ................................................................................................ $ 22,000 Conversion: 20% complete, cost of ....................................................................................................... 4,500 Balance in work in process, April 1 ....................................................................................................... $ 26,500 Units started during April .......................................................................................................................... 100,000 Units completed during April and transferred out to finishedgoods inventory ............................................... 80,000 Work in process, April 30: Direct material: 100% complete Conversion: 33 1 3 % complete Costs incurred during April: Direct material ..................................................................................................................................... $198,000 Conversion costs: Direct labor ..................................................................................................................................... $ 52,800 Applied manufacturing overhead ... .................................................................................................... 105,600 Total conversion costs ...................................................................................................................... $158,400 Required: Prepare schedules to accomplish each of the following processcosting steps for the month of April. Use the weighted-average method of process costing. 1. Analysis of physical flow of units. 2. Calculation of equivalent units. 3. Computation of unit costs. 4. Analysis of total costs. 5. Build a spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how the solution will change if the following data change: the April 1 workin-process costs were $27,000 for direct material and $5,000 for conversion

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

Intermediate Accounting Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

12th Canadian edition

119-49633-5, 1119496497, 1119496330, 978-1119496496

More Books

Students also viewed these Accounting questions

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago