Question
Toughflex Company Toughflex Company adds material at the start of production. The following production information is available for June: Beginning Work in Process Inventory (45%
Toughflex Company Toughflex Company adds material at the start of production. The following production information is available for June:
| Beginning Work in Process Inventory | |||||||||||||||||||||||||||
| (45% complete as to conversion) | 10,000 | units | |||||||||||||||||||||||||
| Started this period | 120,000 | units | |||||||||||||||||||||||||
| Ending Work in Process Inventory | |||||||||||||||||||||||||||
| (80% complete as to conversion) | 8,200 | units | |||||||||||||||||||||||||
| Beginning Work in Process Inventory Costs: | |||||||||||||||||||||||||||
| Material | $24,500 | ||||||||||||||||||||||||||
| Conversion | 68,905 | ||||||||||||||||||||||||||
| Current Period Costs: | |||||||||||||||||||||||||||
| Material | $ 75,600 | ||||||||||||||||||||||||||
| Conversion | 130,053 | ||||||||||||||||||||||||||
| 1a. Refer to Toughflex Company. What is the cost of units completed using the weighted average?
1b. Refer to Toughflex Company. What is the material cost per equivalent unit using the weighted average method?
| |||||||||||||||||||||||||||
1c. Refer to Toughflex Company. What are the equivalent units for material using the weighted average method?
| a. | 120,000 | |
| b. | 130,000 | |
| c. | 128,360 | |
| d. | 123,860
|
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Payroll Accounting
Authors: Bernard J. Bieg, Judith A. Toland
2013 edition
113396253X, 978-1133962533
