Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Total units Units 67,000 852,000 710,000 209,000 Units $ 298,675 112,263 1,998,825 2,132,987 Direct Materials Conversion Percent Percent Complete 100% Complete 80% 100% Required: 1. Compute equivalent units of production for both direct materials and conversion. Percent Complete $ 410,938 4,131, 812 $ 4,542,750 Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials EUP 90% Conversion Percent Complete EUP
Victory Company uses weighted average process costing. The company has two production processes. Conversion cost is added evenly throughout each process. Direct materials are added at the beginning of the first process. Additional information for the first process follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Total units Units 67,000 852,000 710,000 209,000 Units $ 298,675 112,263 1,998,825 2,132,987 Direct Materials Conversion Percent Percent Complete 100% Complete 80% 100% Required: 1. Compute equivalent units of production for both direct materials and conversion. Percent Complete $ 410,938 4,131, 812 $ 4,542,750 Equivalent Units of Production (EUP) - Weighted Average Method Direct Materials EUP 90% Conversion Percent Complete EUP
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 11E: The charges to Work in ProcessAssembly Department for a period, together with information concerning...
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