Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ridgeway Co. has provided the following information: Work in Process: April 1 4,600 units (100% complete for materials, 90% complete for conversion) Materials $ 18,500

Ridgeway Co. has provided the following information:

Work in Process: April 1 4,600 units
(100% complete for materials, 90% complete for conversion)
Materials $ 18,500
Conversion $ 17,500
Units started 83,000 units
April costs
Materials $ 360,650
Conversion $ 384,375
Work in Process: April 30 11,900 units
(70% complete for materials, 10% complete for conversion)

Using the weighted average method of process costing, complete each of the following: a. How many units were completed and transferred to Finished Goods?

b. Calculate equivalent units.

c. Calculate cost per equivalent unit. (Round your intermediate calculations and final answer to 4 decimal places.)

d. What is the dollar amount transferred to Finished Goods? (Round your intermediate calculations to 4 decimal places and final answer to the nearest whole dollar amount.)

e. Calculate the cost of the ending Work in Process. (Round your intermediate calculations to 4 decimal places and final answer to the nearest whole dollar amount.)

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_2

Step: 3

blur-text-image_3

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

Rigos Primer Series CPA Exam Review Financial Accounting Questions And Answers

Authors: Mr. James J. Rigos

2020 Edition

979-8642293720

More Books

Students also viewed these Accounting questions