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Requirement 3. Assign total costs to units completed (and transferred out) and to units in ending work in process. (Enter an amount in each input
Requirement 3. Assign total costs to units completed (and transferred out) and to units in ending work in process. (Enter an amount in each input cell. Round your answers to the nearest whole dollar.) Total Transferred-in Direct Conversion Production Costs Costs Materials Costs Assignment of costs: Completed and transferred out 38750 Work in process, ending Total costs accounted for 38750Chilly Clothing Inc. is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Chilly uses the weighted-average method of process costing. The information for June is provided. (Click the icon to view the information.) Required 1. Calculate equivalent uni 2. Summarize total costs to . X 3. Assign total costs to uni June information Physical Units Transferred-in Direct Conversion Costs added in current per (tonnes) Costs Materials Costs Total costs to account for Work in process, beginning inventory (June 1) 65 $ 65,000 $ 0 $ 32,500 100% 0% 40% Calculate the cost per equiv Degree of completion, beginning work in process Transferred in during June 130 Completed and transferred out during June 155 Work in process, ending inventory (June 30) 40 Costs incurred to date Degree of completion, ending work in process 100% 0% 75% Divide by: Equivalent unit Total costs added during June $ 147,250 $ 38,750 $ 79,050 Cost per equivalent unit of Requirement 3. Assign tota wers to the nearest whole dollar.) Print Done Assignment of costs: Completed and transferred out 38750 Work in process, ending Total costs accounted for 38750
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