17-24 Weighted-average method, equivalent units. The assembly division of Quality Time Pieces, (b) the cost of work in Inc. uses the weighted-average method of process costing. Consider the following data for the month of Physical Units (Watches) 100 May 2017: Direct Conversion Materials Costs $ 459,888 $ 142,570 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 510 450 160 $3,237,000 $1,916,000 "Degree of completion: direct materials, 80%; conversion costs, 35 %. " Degree of completion: direct materials, 80%; conversion costs, 40%.
17-24 Weighted-average method, equivalent units. The assembly division of Quality Time Pieces, (b) the cost of work in Inc. uses the weighted-average method of process costing. Consider the following data for the month of Physical Units (Watches) 100 May 2017: Direct Conversion Materials Costs $ 459,888 $ 142,570 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 510 450 160 $3,237,000 $1,916,000 "Degree of completion: direct materials, 80%; conversion costs, 35 %. " Degree of completion: direct materials, 80%; conversion costs, 40%.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
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Chapter6: Process Costing
Section: Chapter Questions
Problem 17E: K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the...
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I need help gettkng started with 17-24
Transcribed Image Text:dren's blocks in a single pr
Compute equivalent units for direct materials and conversion costs. Show physical units in the first column
2. Compute (a) the cost of
(b) the cost of work in process as of April 30, 2017.
2. Using the information in re
Required
3. Calculate the cost per un
17-24 Weighted-average method, equivalent units. The assembly division of Quality Time Pieces,
Inc. uses the weighted-average method of process costing. Consider the following data for the month of
for each operation.
December work orders.
3. Calculate the cost per un
1250A, respectively.
May 2017:
Physical Units
(Watches)
Direct
Conversion
Materials
Costs
100
$ 459,888
Beginning work in process (May 1)ª
Started in May 2017
Completed during May 2017
Ending work in process (May 31)°
Total costs added during May 2017
$ 142,570
510
17-29 Weighted-average
450
Conversion costs are added
of process costing. The foll
160
$3,237,000
$1,916,000
Degree of completion: direct materials, 80%; conversion costs, 35%.
"Degree of completion: direct materials, 80%; conversion costs, 40%.
b
Required
Compute equivalent units for direct materials and conversion costs. Show physical units in the fires
Work in process, C
of your schedule.
17-25 Weighted-average method, assigning costs (continuation of 17-24).
For the data in Exercise 17-24, summarize the total costs to account for, calculate the cost per equivelos
unit for direct materials and conversion costs, and assign costs to the units completed (and transferred o
and units in ending work in process.
Started in Octobe
Completed and ty
Work in proces
ruired
Degree of comple
Degree of completion
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