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In: Accounting

1: given the following information: Costs: direct Total cost materials Conversion Beginning Inventory $ 9,400 $...

1: given the following information: Costs: direct Total cost materials Conversion Beginning Inventory $ 9,400 $ 9,000 $ 400 Costs added: 20,000 15,000 5,000 Total cost $ 29,400 $24,000 $ 5,400 Percent Complete Materials Conversion Units transferred out: 1,000 units Ending inventory 200 units 100% 40% 1,200 units • Calculate the equivalent units with respect to direct materials and with respect to conversion costs under weighted average process costing. • Calculate the total cost assigned to the 1,000 units transferred out.

2: The Winston Company uses weighted average process costing. The following is an incomplete statement of cost of goods manufactured: Beginning inventory $ 2,700 Cost incurred: Direct materials $ 5,100 Direct Labor 6,100 Applied Overhead 12,200 $23,400 $26,100 Less: Ending inventory ? Cost of goods manufactured ? The $2,700 cost of beginning inventory included $400 of direct material charges and $2,300 of conversion cost charges. During the period, 100 units were transferred out. The ending work-in-process inventory consists of 10 units that are 100% complete with respect to direct materials and 30% complete with respect to conversion activities.

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ekkarill92 answered 2 years ago
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