Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information applies to the questions displayed below,J Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added

image text in transcribed

The following information applies to the questions displayed below,J Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 735,000 units of product to finished goods. At the end of November, the work in process inventory consists of 181,000 units that are 70% complete with respect to conversion Beginning inventory had $535,860 of direct materials and $150,798 of conversion cost. The direct material cost added in November is $3,586.140, and the conversion cost added is $2.865152. Beginning work in process consisted of 73.000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed 73 000 were from beginning work in process and 662.000 units were started and completed during the period 3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process Inventory (Round "Cost per EUP" to 2 decimal places.) Cost per Total cost Cost of units transferred out: EUP Total costs t out Cost perotalcost Costs of ending work in process EUP Total cost of ending work in process Total costs accounted for

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

Step: 3

blur-text-image

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

Auditing Investments

Authors: Barbara Davison

1st Edition

0894134272, 978-0894134272

More Books

Students also viewed these Accounting questions

Question

What is the effect of word war second?

Answered: 1 week ago