Homework Answers
Solution:
|
Computation of Equivalent units |
|||
| Particulars | Physical Units | Equivalent units | |
| Material | Conversion | ||
| Work in Process, beginning | 20000 | ||
| Started during the current period | 55000 | ||
| Total units to account for | 75000 | ||
| Units accounted for: | |||
| Unit completed & Transferred out | 57000 | 57000 | 57000 |
| Closing WIP: | 18000 | ||
| Material (100%) | 18000 | ||
| Conversion (35%) | 6300 | ||
| Equivalent units of production | 75000 | 75000 | 63300 |
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throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 700,000
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account for its production costs. Conversion cost is added evenly
throughout the process. Direct materials are added at the beginning
of the process. During November, the company transferred 700,000
units of product to finished goods. At the end of November, the
work in process inventory consists of 180,000 units that are 30%
complete with respect to conversion. Beginning inventory had
$420,000 of direct materials and $139,000 of conversion cost. The
direct material cost...
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Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 705,000 units of product to finished goods. At the end of November, the work in process inventory consists of 204,000 units that are 50% complete with respect to conversion. Beginning inventory had $354,510 of direct materials and $201,750 of conversion cost. The direct material...
Need help with the following accounting problem.
Required information Problem 20-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 The following information applies to the questions displayed below.) Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 740,000 units of product to finished goods. At the end of...
[The following information applies to the questions displayed below.) Victory Company uses weighted average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 810,000 units of product to finished goods. At the end of November, the work in process inventory consists of 193,000 units that are 60% complete with respect to conversion Beginning inventory had $391,170 of direct...
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