kindly dont give me handwritten answers Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting.The Work in Process Inventory T-account for the Bending department is shown below. The 2,000 units in beginning work inprocess inventory had direct materials costs of $2,400 and conversion costs of $1,600. Also shown is unit data for the Bendingdepartment this period.Beginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventoryBeginning balance.Direct materials.Direct laborOverheadEnding balance4,0007,2003,00014,400Units2,0006,0007,0001,0002DirectMaterials ConversionPercentPercentComplete20%Work in Process Inventory-Bending ($)DebitCredit2 Transferred outComplete100%100%60%a. Compute equivalent units of production for both direct materials and conversion.b. Compute cost per equivalent unit of production for both direct materials and conversion.c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in processinventory.

Process costing is the technique of estimating the costs involved in a process. This costing is…

Answered: Midway Metal, which uses the weighted…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 1CMA: During December, Krause Chemical Company had the following selected data concerning the manufacture...

See similar textbooks

Related questions

Question

100%

kindly dont give me handwritten answers

Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting.
The Work in Process Inventory T-account for the Bending department is shown below. The 2,000 units in beginning work in
process inventory had direct materials costs of $2,400 and conversion costs of $1,600. Also shown is unit data for the Bending
department this period.
Beginning work in process inventory
Units started this period
Completed and transferred out
Ending work in process inventory
Beginning balance.
Direct materials.
Direct labor
Overhead
Ending balance
4,000
7,200
3,000
14,400
Units
2,000
6,000
7,000
1,000
2
Direct
Materials Conversion
Percent
Percent
Complete
20%
Work in Process Inventory-Bending ($)
Debit
Credit
2 Transferred out
Complete
100%
100%
60%
a. Compute equivalent units of production for both direct materials and conversion.
b. Compute cost per equivalent unit of production for both direct materials and conversion.
c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process
inventory.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Follow-up Questions

Read through expert solutions to related follow-up questions below.

Follow-up Question

Hi, I was wondering how you got the beginning work in process amount for part b? 2400 and 1600, I am really confused on that part and dont know how to find it.

Solution

by Bartleby Expert

SEE SOLUTION

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions