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Problem 16-2A Weighted average: Cost per equivalent unit; costs assigned to products LO C2, C3 [The...

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. 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 November, the work in process inventory consists of 191,000 units that are 70% complete with respect to conversion. Beginning inventory had $544,635 of direct materials and $218,425 of conversion cost. The direct material cost added in November is $3,644,865, and the conversion cost added is $4,150,075. Beginning work in process consisted of 70,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 70,000 were from beginning work in process and 670,000 units were started and completed during the period.

Problem 16-2A Part 3

3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.)

EUP Cost per EUP Total cost

Cost of units transferred out:

Direct materials

Conversion

   Total costs transferred out

Cost of ending work in process

   Direct materials

   Conversion

   Total cost of ending work in process

Total costs accounted for

Solutions

Expert Solution

The answer has been presented in the supporting sheets. All the parts has been solved with detailed explanation and format .For detailed answers refer to the supporting sheets.

ekkarill92 answered 8 months ago
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