Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the Production Report below, answer this question: How many units were transfered into this process of manufacturing, how many units were transfered to the

Using the Production Report below, answer this question: How many units were transfered into this process of manufacturing, how many units were transfered to the next process, and what is the cost per unit being transfered?

a. 90,000, 80,000, and $30.36

b. 90,000, 80,000, and $296.07

c. 100,000, 80,000, and $254.96

d. 100,000, 80,000, and $296.07

image text in transcribed

Kenzie's Cell Phones Finishing Department Production Report (Model 1000) [Weighted Average Method) Quantity Schedule a Equivalent Units Quantity Schedule Unils to be Accounted for: WIP, Beg (20% for RM, 50% for Conversion) 10,000 Received from Production 90,000 Total Units 100,000 Equivalent Units (EU) Transferred in Units Materials Conversion Transferred into Finished Goods: 80,000 50,000 75,000 WIP, ending(15% for RM, 40% for conversion) 5,000 500 25,000 80,500 75,00080,000 Total Units and EU Costs per EU: otal Cost 7,238,200$ 7,134,200 $ 75,000 $ 29,000 21,551,800 $18,361,800790,000 2,400,000 28,790,00025,496,000 $865,000 $ 2,429,000 Tranferred in Costs Materials Conversion Per Unit WIP, Beginning Costs added this period Total Costs Equivalent Units (from above) 100,000 80,500 80,000 254.96 $ 10.75 30.36 296.07 Cost per Unit Cost Reconciliation: Transferred to Finished Goods: 23,685,427 80,000 $296.07 WIP, ending Transferred in Cosls at $254.96 Materials at $10.75 127,480 286,750 Conversion at $30.36 151,800 Total Ending WIP 566,030 24,251,457 Total Costs

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 & Assurance Services A Systematic Approach

Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt

11th Edition

1260687635, 1259969444, 9781259969447, 978-1260687637

More Books

Students also viewed these Accounting questions