Freddie Company adds direct materials at the beginning of the process and adds conversion costs throughout...
Freddie Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. Data for the Finishing Department follows:
|
WIP, April 1 |
12 comma 00012,000 units |
|
|
Transferredminus−in costs in WIP, April 1 |
$79,940 |
|
|
Direct materials (100%) in WIP, April 1 |
$24,420 |
|
| Conversion costs
(7070%) in WIP, April 1 |
$23,400 |
|
| Units
transferredminus−in |
51 comma 00051,000 |
|
|
Transferredminus−in costs during April |
$550,900 |
|
|
Units completed |
43 comma 00043,000 |
|
|
April direct materials cost |
$155,500 |
|
|
April conversion costs |
$239,250 |
|
|
WIP, April 30 |
20 comma 00020,000 units |
|
| (100% for materials and
2020% for conversion costs) |
||
What are the equivalent units for conversion costs?
Homework Answers
Answer--------
| Conversion | ||
| Equivalent Units of Production | 47,000 |
Working
| Statement of Equivalent Units(Weighted average) | |||||||
| Conversion cost | |||||||
| Units | Complete % | Equivalent units | |||||
| Transferred out | 43,000 | 100% | 43,000 | ||||
| Ending WIP | 20,000 | 20% | 4,000 | ||||
| Total | 63,000 | Total | 47,000 | ||||
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