Homework Answers
Answer 1 C) Direct labor and overhead
Answer 2 C) 10000
Answer 3 b) 90000
Answer 4 e) 84000
Detailed workings for above 2 to 4 Answers
Work in process on 31st July = Opening WIP + Started - Completed = 20000+70000-80000 = 10000 Units
| Equivalent Units of Production (EUP)- Weighted Average Method | |||||
| Units | % Materials | EUP—Materials | % Conversion | EUP—Conversion | |
| Units completed and transferred out | 80000 | 100% | 80000 | 100% | 80000 |
| Units of ending work in process | 10000 | 100% | 10000 | 40% | 4000 |
| Equivalent units of production | 90000 | 84000 | |||
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Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c)...
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c)...
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c) Direct labor & overhead d) Direct material & indirect material e) Direct labor & period costs Use the following to answer questions. 2.3.4 The information below was obtained from the records of the first processine derment of Christine Corporation for the month of July. The company uses the weighted-average method in its process costing system Labor and Overhead Ulnits Percent Completed Work in process...
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Use the following to answer questions# 2,3,4 The information below was obtained from the records of the first processing department of Christine Corporation for the month of July. The company uses the weighted-average method in its process costing system. Labor and Overhead Percent Completed 25% Work in process inventory, July 1 Started during the month Completed during the month Work in process inventory, July 31 Units 20,000 70,000 80,000 All materials are added at the beginning of the manufacturing process....
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