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Thanks in Advance for your work :) (The following information applies to the questions displayed below.) Victory Company uses weighted average process costing. The company
Thanks in Advance for your work :)
(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. Direct Materials Percent Complete 1001 Conversion Percent Complete 80N Units 66,000 850,000 725,000 191,000 100N 603 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 $ 238,160 200,900 $ 440.060 1,593,840 3.980, 100 5.581.240 $ 6,030,000 3. Assign costs to the department's output--specifically, to the units transferred out and to the units in ending work in process inventory (Round "Cost per EUP" to 2 decimal places.) Cost assignment.--Weighted average Completed and transferred out Direct materials Conversion EUP Cost per EUP Total cost $ 238,160 209,900 $ 448,060 materials Conversion Costs added this period Direct materials Conversion Total costs to account for 1,593,840 3,988, 100 5,581 940 $ 6,030,000 3. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Cost assignment-Weighted average Completed and transferred out Direct materials Conversion EUP Cost per EUP Total cost Ending work in process Direct materials Conversion Total costs accounted for Step by Step Solution
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