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solve pls Q5) . ChooChoo Company utilizes process costing for its main product, toy trains. Data relating to toy trains processed in Department 1, Moulding,
solve pls
Q5) . ChooChoo Company utilizes process costing for its main product, toy trains. Data relating to toy trains processed in Department 1, Moulding, during December are presented as follows: Materials are added at the beginning of the process in Department 1. Costs in beginning work in process inventory were $200,000 of direct materials and conversion cost of $355,000. Costs added during the period were $131,500 and conversion costs of $245,000. The company uses the weighted average method of accounting for units. Required: a. Prepare a quantity schedule. b. Compute the equivalent units for the period according to the weighted average method of accounting for units. c. Calculate the cost per equivalent unit using the weighted average method. Round answer to two decimal places. d- Cost ReconciliationStep by Step Solution
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