Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required information [The following information applies to the questions displayed below] Victory Company uses weighted average process costing. The company has two production processes
Required information [The following information applies to the questions displayed below] Victory Company uses weighted average process costing. The company has two production processes Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Units 67,000 889,000 755,000 201,000 $248,560 67,178 1,663,440 1,276, 372 Direct Materials Percent Complete. 100% 100X Conversion Percent Complete 80% $ 315,738 2,939,512 $2,255,550 Retu 70% 9 Part 3 of 3 10 points 3. Assign costs to the department's output-specifically, to the units transferred out and to the unit Inventory. (Round "Cost per EUP" to 2 decimal places.) Cost assignment-Weighted average Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion. Total costs accounted for Answer is not complete. EUP 755,000 755.000 $ 201,000 S $ Cost per EUP 1.50 0.00 S 1.50 Total cost 1,132,500 0 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Equivalent Unit of Production Direct Material Conversion Unit completed 755000 ...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