Homework Answers
Calaculation of Equivalent cost per unit for conversion costs using the FIFO method:
The correct option is
- $3.95 per unit
Given:
Equivalent units for conversion = 18900 units
Total conversion costs during the period = $74655
Therefore,
Equivalent cost per unit for conversion
= Total conversion costs/Equivalent units for conversion
= $74655 / 18900 units
= $3.95 per unit
_______×________
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For the first process: 1. Determine the eqivalent units of production with respect to direct materials...
For
the first process:
1. Determine the eqivalent units of production with respect to
direct materials and conversion.
mework Saved Required information Problem 16-2A 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. Conve evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process...
Victory Company uses weighted average process costing to account for its production costs. Conversion cost is...
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 version cost. The direct material cost added...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
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 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...
Victory Company uses weighted average process costing to account for its production costs. Conversion cost is...
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...
Victory Company uses weighted average process costing to account for its production costs. Conversion cost is...
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...
Norte Coses process costing to count for the production of rubber bas Directors we added at the begins and Cocos recurred in my vroughout the process. Eventurvits have been calculated to be 19.300 stores and 18.000 unts for conversion com. Baging invertory contedofind $9.905 conversion com Apricosts were $37.800 for minerals and 5655 for conversion costs Ending inventory process was 9.450 VS 100complete form.SON for conversion. The quo per unit for convern coming the FIFO method would be
Note Co.uses process cong to account for reproduction of rubberbals Direct wedded it the beginning of the process and conversion concured for the processen calculated to be 15.200 unts for materials and 15.000 units for conversion costs. Begitory come of $6.000 and 500 in conversion Aprons wer14.340 250 for conversion cos Ending inventory process was 5.250 unts on complete for materials for conveni The cost per method would be to Nette Coses process costing to account for the production of...
Please help with accounting homework
Nettle Co. uses process costing to account for the production of rubber balls. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 12,700 units for materials and 12,000 units for conversion costs. Beginning Inventory consisted of $8,000 in materials and $8,800 in conversion costs. April costs were $30,000 for materials and $51,000 for conversion costs. Ending Inventory still...
Livingston Co. uses process costing to account for the production of elastic bands. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory consisted of $32,000 in materials and $44,000 in conversion costs. April costs were $90,000 for materials and 589.000 for conversion costs. During April 14600 units were completed. Ending work in process inventory was 5.800 units (100% complete formaterials, so for conversion. The total cost per unt...
For
the first process:
1. Determine the eqivalent units of production with respect to
direct materials and conversion.
mework Saved Required information Problem 16-2A 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. Conve evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process...
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 version cost. The direct material cost added...
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 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...
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...
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...
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