Question
Question 4: Rahmahs Victorian Chips Company produces special spicy chips from potato, wheat and corn from produced locally in Victoria State, Australia. The company uses
Question 4: Rahmahs Victorian Chips Company produces special spicy chips from potato, wheat and corn from produced locally in Victoria State, Australia. The company uses the weighted-average method in its process costing system. Data for November for the Mixing department follow:
| Percent Completed | |||
| Units | Mixing | Materials | Conversion |
Work in process inventory, November 1 | 1 | 100% | 90% | 80% |
Work in process inventory, November 30 | 1 | 100% | 80% | 70% |
| Mixing | Materials | Conversion |
Work in process inventory, November 1 | $1,670 | $90 | $605 |
Cost added during November | $81,460 | $6,006 | $42,490 |
During November, 50 batches (i.e., units) were completed and transferred to the Department.
Required:
4A): Determine the equivalent units for September for mixing, materials, and conversion. Do not round off your computations. [ 2 Marks ]
4B): Compute the costs per equivalent unit for September for mixing, materials, and conversion. [ 2 Marks ]
4C): Determine the total cost of ending work in process inventory and the total cost of units transferred to the Department in November. [ 2 Marks ]
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