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Equivalent Units and Product Cost Report—Weighted Average Method The following data (and annotations) are for the...

Equivalent Units and Product Cost Report—Weighted Average Method

The following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October of 2016.

Work in Process-Department 1
Beginning balance (2,000 units, 70% complete)
Direct material $31,000
Conversion costs 14,400
Transferred to department 2 (20,000 units) (a)
Direct material (21,000 units) 315,000
Direct labor 217,800
Manufacturing overhead 72,450
Ending balance [ (b) units, 25% complete] (c)

Assuming that Crocker uses the weighted average method and that materials are added at the beginning of the process and conversion costs are incurred evenly throughout, solve for the three missing numbers.

Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number.

Crocker Company Department 1
Equivalent Units Calculations, October 2016
Equivalent Units
% Work
done
Direct
Materials
% Work
Done
Conversion
Costs
Complete/Transferred Answer Answer% Answer Answer% Answer
Ending Inventory b. Answer Answer% Answer Answer% Answer
Total Answer Answer Answer
Product Cost Report
Direct
Materials
Conversion
Costs
Beginning Inventory $Answer $Answer $Answer
Current Answer Answer Answer
Total Costs to Account For $Answer $Answer $Answer
÷ Total Equivalent Units Answer Answer
Average cost / Equivalent unit (round four decimal places) $Answer $Answer
Complete / Transferred:
Direct Materials $Answer
Conversion costs Answer
Cost of Goods Manufactured $Answer a.
Ending Inventory:
Direct Materials $Answer
Conversion costs Answer
Cost of Ending Inventory $Answer c.
Total Costs Allocated $Answer
0 0
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