Question
In: Accounting
On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...
On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 24,000 units were started. At the end of the month all started units were 55% complete with respect to conversion. Direct Materials placed into production had a total cost of $390,000 and the total conversion cost for the month was $498,000. Annapolis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of conversion for the month of March. (Round answer to the nearest cent.)
Solutions
Expert Solution
Correct answer--------------$37.73
Working
| Statement of Equivalent Units(Weighted average) | |||||||
| Conversion | |||||||
| Units | Complete % | Equivalent units | |||||
| Transferred out | - | 100% | - | ||||
| Ending WIP | 24,000 | 55% | 13,200 | ||||
| Total | 24,000 | Total | 13,200 |
.
| Cost per Equivalent Units (Weighted average) | ||||
| COST | Conversion | |||
| Beginning WIP Inventory Cost (A) | $ 0 | |||
| Cost incurred during period (B) | $ 498,000 | |||
| Total Cost to be accounted for (C=A+B) | $ 498,000 | |||
| Total Equivalent Units(D) | 13,200 | |||
| Cost per Equivalent Units (E=C/D) | $ 37.73 |
ekkarill92 answered 1 year agoRelated Solutions
On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...
On March 1, 2019, Annapolis Company has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. During the month 25,000 units were started. At the
end of the month all started units were 50% complete with respect
to conversion. Direct Materials placed into production had a total
cost of $330,000 and the total conversion cost for the month was
$428,000. Annapolis uses...
On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...
On March 1, 2019, Annapolis Company has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. During the month 24,000 units were started. At the
end of the month all started units were 50% complete with respect
to conversion. Direct Materials placed into production had a total
cost of $420,000 and the total conversion cost for the month was
$438,000. Annapolis uses...
On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...
On March 1, 2019, Annapolis Company has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. During the month 35,000 units were started. At the
end of the month all started units were 55% complete with respect
to conversion. Direct Materials placed into production had a total
cost of $475,000 and the total conversion cost for the month was
$368,000. Annapolis uses...
On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All...
On March 1, 2019, Annapolis Company has a beginning Work in Process
inventory of zero. All materials are added into production at the
beginning of its production. There is only one production WIP
inventory. During the month 37,000 units were started. At the end
of the month all started units were 75% complete with respect to
conversion. Direct Materials placed into production had a total
cost of $375,000 and the total conversion cost for the month was
$423,000. Annapolis uses...
Dorchester Company, on March 1, 2019 has a beginning Work in Process inventory of zero. All...
Dorchester Company, on March 1, 2019 has a beginning
Work in Process inventory of zero. All materials are added into
production at the beginning of its production. There is only one
production WIP inventory. On March 1, Dorchester started into
production 18,500 units. At the end of the month there were 12,000
units completed and transferred into the Finished Goods Inventory.
The ending WIP was 45% complete with respect to conversion. For the
month of March the following costs were...
Dorchester Company, on March 1, 2019 has a beginning Work in Process inventory of zero. All...
Dorchester Company, on March 1, 2019 has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. On March 1, Dorchester started into production
15,500 units. At the end of the month there were 10,000 units
completed and transferred into the Finished Goods Inventory. The
ending WIP was 70% complete with respect to conversion. For the
month of March the following costs were...
Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All...
Alpha Company, on March 1, 2017 has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. On March 1, Alpha started into production 10,000
units. At the end of the month there were 5,000 units completed and
transferred into the Finished Goods Inventory. The ending WIP was
40% complete with respect to conversion. For the month of March the
following costs were...
Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All...
Alpha Company, on March 1, 2017 has a beginning Work in
Process inventory of zero. All materials are added into production
at the beginning of its production. There is only one production
WIP inventory. On March 1, Alpha started into production 10,000
units. At the end of the month there were 5,000 units completed and
transferred into the Finished Goods Inventory. The ending WIP was
40% complete with respect to conversion. For the month of March the
following costs were...
Alpha Company, on March 1, 2017 has a beginning Work in Process inventory of zero. All...
Alpha Company, on March 1, 2017 has a beginning Work in Process
inventory of zero. All materials are added into production at the
beginning of its production. There is only one production WIP
inventory. On March 1, Alpha started into production 10,000 units.
At the end of the month there were 5,000 units completed and
transferred into the Finished Goods Inventory. The ending WIP was
60% complete with respect to conversion. For the month of March the
following costs were...
On March 1, 2019, Baltimore Company's beginning work in process inventory had 8,000 units. This is...
On March 1, 2019, Baltimore Company's beginning work in process
inventory had 8,000 units. This is its only production department.
Beginning WIP units were 50% complete as to conversion costs.
Baltimore introduces direct materials at the beginning of the
production process. During March, a total of 26,800 units were
started and the ending WIP inventory had 9,800 units which were 50%
complete as to conversion costs. Baltimore uses the weighted
average method. Use this information to determine for March 2019...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- UNIX ONLY -- DIFFICULT LAB ASSIGNMENT This is an extremely difficult subject for me. Could you...
- Do you know why your credit card can be refused even though you are profitable?
- The Following Java expression: S/10 * 10 + 10 – S = C Show that this...
- Year Cash Flow 0 −$9,700 1 5,800 2 2,500 3 3,400 &nb
- In a two – story building, an exterior column is to be designed for a service...
- Explain the use of neural networking modeling in predictive analytics. Discuss a real-life example of where...
- Boarder line and antisocial disorder are perhaps the most research personality disorder.What are the most common...
ADVERTISEMENT