Trendy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Trendy uses the weighted average method of process costing. The following information for June 2017 is available (Click the icon to view the information) Read the requirements Data Table Requirement 1. Calculate equivalent units of trang Work in process, beginning inventory (June 1) Transferred in during June To account for Completed and transferred out during June Work in process, ending inventory (June 30) Accounted for 1 2 Work in process, beginning Inventory (June 1) 3 Degree of completion, beginning work in process 4 Transferred-in during June Completed and transferred out during June 6 Work in process, ending inventory (June 30) 7 Degree of completion, ending work in process Total costs added during June B D Physical Units Transferred-in Direct Conversion (tons) Costs Materials Costs 60 $ 60,000 $ os 24.000 100% 0% 50% 1001 120 40 $ 100% 0% 117.000 $ 27,000 $ 75% 62,400 Requirement 1. Calculate equivalent units of transferred-in costs, direct materials, and conversion costs. (Enter a "o" for any zero balances.) Equivalent Units Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs Work in process, beginning inventory (June 1) 100 Transferred in during June To account for Completed and transferred out during June Work in process, ending inventory (June 30) 60 120 40 Accounted for Equivalent units work done to date Requirement 2. Summanze the total costs to account for, and calculate the cost per equivalent unit for an Begin by summarizing the total costs to account for. (Enter a "0" for any zero balances.) Total Transferred-In Costs Direct Materials Conversion Costs Production Costs Total costs to account for Calculate the cost per equivalent unit for transferred in costs, direct materials and conversion costs. (Round your answers to the nearest cent) Transferred in Costs Direct Materials Conversion Costs Divide by Cost per equivalent unit Requirement 3. Assign costs to units completed (and transferred out) and to units in ending work in process. (Enter a "o for any zero balances. Round your answers to the nearest Total Production Costs Transferred-In Costs Direct Materials Conversion Costs Assignment of costs: Completed and transferred out Work in process, ending Total costs to account for Choose from any list or enter any number in the input fields and then continue to the next question. Trendy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Trendy uses the weighted average method of process costing. The following information for June 2017 is available. (Click the icon to view the information.) Read the requirements 1) A 1 B D E Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs 60 $ 60,000 $ os 24,000 100% 0% 50% 100 2 Work in process, beginning inventory (June 1) 3 Degree of completion, beginning work in process 4 Transferred-in during June 5 Completed and transferred out during June 6 Work in process, ending inventory (June 30) 7 Degree of completion, ending work in process 8 Total costs added during June 120 coun 40 100% 0% 75% me in 117,000 $ 27,000 $ 62,400
