A producer of midcentury modern doll chairs, Santa, Inc. uses a process costing system. The following information pertains to operations for the month of November Percentage Complete Units Direct Materials Conversion Beginning Work in Process Inventory, 19,800 60% 20% November 1 Started in production 96,700 during November Ending Work in Process 16,500 90% 40% Inventory Beginning Work in Process Inventory Costs: Material $68,200 Conversion $44,560 Current Period Costs: Material $793,175 Conversion $1,367,890 REQUIRED Using the weighted-average method, answer the following questions: 1. How many units were completed and transferred to finished goods? 2. What are the total equivalent units for each cost component? 3. What is the cost per equivalent unit for each cost component?

A producer of midcentury modern doll chairs, Santa, Inc. uses a process costing system. The following information pertains to operations for the month of November Percentage Complete Units Direct Materials Conversion Beginning Work in Process Inventory, 19,800 60% 20% November 1 Started in production 96,700 during November Ending Work in Process 16,500 90% 40% Inventory Beginning Work in Process Inventory Costs: Material $68,200 Conversion $44,560 Current Period Costs: Material $793,175 Conversion $1,367,890 REQUIRED Using the weighted-average method, answer the following questions: 1. How many units were completed and transferred to finished goods? 2. What are the total equivalent units for each cost component? 3. What is the cost per equivalent unit for each cost component?

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 16M

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