Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 13 1. Blossom Company has two sequential processing departments: Assembly and Shaping. The Shaping Department reports the following information. Conversion costs are applied

image text in transcribed

Question 13 1. Blossom Company has two sequential processing departments: Assembly and Shaping. The Shaping Department reports the following information. Conversion costs are applied evenly throughout the process. Beginning WIP Inventory 15,000 units Direct materials costs in beginning WIP Inventory $42,377 Conversion costs in beginning WIP Inventory $19,250 Units started Units completed Costs added: materials Costs added: conversion Ending WIP Inventory (15% complete for materials and 30% complete for 46,000 units X Units $155,040 $315,299 5,000 units conversion) Don't include "$* or *.* in your answers, round Cost per equivalent Unit to 2 decimal points, round all other numbers to the nearest dollar. 1. Calculate the Equivalent Units of Production for Direct Materials and Conversion Costs Direct Materials: Conversion Costs 2. Calculate the Total Costs to be accounted for Direct Materials and Conversion Costs Direct Materials: Conversion Costs 3. Calculate the Cost per Equivalent Unit for Direct Materials and Conversion Direct Materials: Conversion Costs 4. Determine the Costs to be allocated to Completed Units and Ending Work-in-Process Completed Ending Work-in-Process Moving to another question will save this response

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

Using Excel & Access for Accounting 2010

Authors: Glenn Owen

3rd edition

1111532672, 978-1111532673

More Books

Students also viewed these Accounting questions

Question

02 How are database application systems developed?

Answered: 1 week ago

Question

Q1 Who will volunteer?

Answered: 1 week ago

Question

Q3 What are the components of the entity- relationship data model?

Answered: 1 week ago