Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

undefined Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials,

image text in transcribedundefined

Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 46% for conversion) Direct materials Conversion cost 35,000 units 49,000 48,000 80,000 units Number of units started April costs Direct materials Conversion cost $ $ 110,000 164,000 Work in process, April 30 (100% complete for materials, 21% for conversion) 37,000 units Required: Using the weighted-average method, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. Physical Units Beginning Units Units Started Total Units Physical Units Units Completed Ending Units Total Units 2. Calculate the number of equivalent units. Equivalent Units Physical Units Direct Materials Conversion Units Completed Ending Inventory Total Units 3. Calculate the cost per equivalent unit. (Round your answers to 5 decimal places.) Direct Materials Conversion Cost per Equivalent Unit 4. Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.) Direct Materials Conversion Total Cost Units Completed Ending Inventory Total Cost 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_2

Step: 3

blur-text-image_3

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

Sustainability Accounting And Accountability

Authors: Matias Laine, Helen Tregidga, Jeffrey Unerman

3rd Edition

1032023104, 9781032023106

More Books

Students also viewed these Accounting questions

Question

e. What age client does the person see?

Answered: 1 week ago

Question

Explain the various ways to protect employees.

Answered: 1 week ago