Toronto Manufacturing Ltd. has the following cost and production data for the month of November.Beginning WIP 17,800units Started in production 104,300 Completed production 93,600 Ending WIP 28,500 The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process.Costs pertaining to the month of November are as follows:Beginning inventory costs are: Materials $ 66,200 Direct labour 18,300 Factory overhead 13,700 Costs incurred during November include: Materials $ 587,035 Direct labour 195,000 Factory overhead 387,250 (a)Calculate the equivalent units of production for materials and for conversion costs. Materials ConversionCosts Equivalent units of production

Equivalent units means number of units that are completely manufactured or produced in the…

Answered: Toronto Manufacturing Ltd. has the…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products

Section: Chapter Questions

Problem 6E: Foamy Inc. manufactures shaving cream and uses the weighted average cost method. In November,...

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Toronto Manufacturing Ltd. has the following cost and production data for the month of November.

Beginning WIP	17,800	units
Started in production	104,300
Completed production	93,600
Ending WIP	28,500

The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process.

Costs pertaining to the month of November are as follows:

Beginning inventory costs are:
Materials		$ 66,200
Direct labour		18,300
Factory overhead		13,700
Costs incurred during November include:
Materials		$ 587,035
Direct labour		195,000
Factory overhead		387,250