Solution
Costs accounted for: | ||
Transferred out | $ 282,000 | |
Work in process, October 31 | ||
Materials | $ 48,000 | |
Conversion costs | $ 15,000 | $ 63,000 |
Total costs | $ 345,000 |
Working
Statement of cost (Weighted average) | |||||
Cost | Equivalent Cost/unit | Ending WIP | Transferred | ||
Units | Cost Allocated | Units | Cost Allocated | ||
Material | $ 1.60 | 30,000 | $ 48,000.00 | 1,20,000 | $ 192,000 |
Conversion cost | $ 0.75 | 20,000 | $ 15,000.00 | 1,20,000 | $ 90,000.00 |
TOTAL | $ 345,000 | TOTAL | $ 63,000 | TOTAL | $ 282,000 |
Prepare a schedule that shows how the equivalent units were computed so that you can complete...
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