Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units

image text in transcribedimage text in transcribedimage text in transcribed

Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units - Beginning inventory of 4,600 units that are 100 percent complete for materials and 27 percent complete for conversion. - 15,300 units started during the period. - Ending inventory of 2,800 units that are 15 percent complete for conversion. Manufacturing Costs - Beginning inventory was $21,200 ( $10,100 materials and $11,100 conversion costs). - Costs added during the month were $29,000 for materials and $51,800 for conversion ( $27,100 labor and $24,700 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question by entering your answers in the tabs below. Calculate the number of equivalent units of production for materials and conversion for March. Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units - Beginning inventory of 4,600 units that are 100 percent complete for materials and 27 percent complete for conversion. - 15,300 units started during the period. - Ending inventory of 2,800 units that are 15 percent complete for conversion. Manufacturing Costs - Beginning inventory was $21,200 ( $10,100 materials and $11,100 conversion costs). - Costs added during the month were $29,000 for materials and $51,800 for conversion ( $27,100 labor and $24,700 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question by entering your answers in the tabs below. Calculate the cost per equivalent unit for materials and conversion for March. (Round cost per Equivalent Unit to 5 decimal places.) Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units Beginning inventory of 4,600 units that are 100 percent complete for materials and 27 percent complete for conversion. 15,300 units started during the period. Ending inventory of 2,800 units that are 15 percent complete for conversion. Manufacturing Costs Beginning inventory was $21,200 ( $10,100 materials and $11,100 conversion costs). Costs added during the month were $29,000 for materials and $51,800 for conversion ($27,100 labor and $24,700 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and conversion for March. 2. Calculate the cost per equivalent unit for materials and conversion for March. 3. Determine the costs to be assigned to the units transferred out and the units still in process. Complete this question by entering your answers in the tabs below. Determine the costs to be assigned to the units transferred out and the units still in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.)

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

Principles Of Cost Accounting

Authors: Edward J. Vanderbeck

15th Edition

978-0840037039, 0840037031

More Books

Students also viewed these Accounting questions