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The Eagle Company (EC) manufacturers high end private label clothing. The first department is the ASSEMBLY DEPARTMENT. The second department is the KNITTING DEPARTMENT. The
The Eagle Company (EC) manufacturers high end private label clothing. The first department is the ASSEMBLY DEPARTMENT. The second department is the KNITTING DEPARTMENT. The knitting department adds the different materials together to complete the finished product. The company uses the weighted average method to determine the inventory value for financial accounting purposes. KNITTING DEPARTMENT The direct materials are added at the end of the process in the knitting department. The conversion costs are added evenly during the process in the knitting department. The following information is provided for the month of August: Physical Transferred Direct Conversion Work in Process, beginning inventory(Aug 1st) Degree of Completion, beginning work in process \begin{tabular}{rrrrr} \multicolumn{1}{c|}{ Units } & - In Costs & Materials & Costs \\ \hline 75 & $75,000 & $ & - & $30,000 \\ \hline \hline 100% & 0% & 60% \end{tabular} Transferred in during August Completed and transferred out during August Work in Process, ending inventory(Aug 31st) Total costs added during August \begin{tabular}{lrrrr} \hline 0 & 100% & 0% & 75% \\ \hline$142,500 & $ & 37,500 & $78,000 \end{tabular} WHAT IS THE TOTAL NUMBER OF EQUIVALENT UNITS OF TRANSFERRED-IN UNITS PRODUCED USING THE WEIGHTED AVE METHOD? WHAT IS THE TOTAL NUMBER OF EQUIVALENT UNITS OF DIRECT MATERIALS PRODUCED USING THE WEIGHTED AVE METHOD? WHAT IS THE TOTAL NUMBER OF EQUIVALENT UNITS OF CONVERSION COSTS PRODUCED USING THE WEIGHTED AVE METHOD? WHAT IS THE TOTAL TRANSFERRED-IN COSTS INCURRED IN THE PERIOD? WHAT IS THE TOTAL DIRECT MATERIAL COSTS INCURRED IN THE CURRENT PERIOD? WHAT IS THE THE TOTAL CONVERSION COSTS INCURRED IN THE CURRENT PERIOD? WHAT IS THE COST PER UNIT OF TRANSFERRED-IN COSTS? WHAT IS THE COST PER UNIT OF DIRECT MATERIALS? Choose.. $300.00 210 190 $1,035.71 $87,066 150 180 195 $275,934 $1,120.85 $217,500 $250.00 $553.85 $610.44 $108,000 $37,500 WHAT IS THE COST PER UNIT OF CONVERSION COSTS? Choose... WHAT IS THE COST OF COMPLETED UNITS TRANSFERRED OUT USING THE WEIGHTED AVE METHOD? Choose... WHAT IS THE COST OF ENDING WORK IN PROCESS USING THE WEIGHTED AVE METHOD? Choose
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