c) Consider the following data for Firm WDC Firm WDC (Wooden Doors Company) manufactures one type of wooden doors. WDC buys wood as its direct material for the Assembly Department of its London factory. The doors are transferred to the Customised Department, where they are hand-shaped and various metal parts are added to them. Firm WDC uses the weighted-average method of process costing. Consider the following data for the Assembly Department in April 2020: Page 2 of 5 Opening Work-In-Progress (01/04)* Started in April Completed During April Physical Units 1,200 3,100 2,600 Direct Materials (E) 15,700 Conversion Costs (£) 5,800 Closing Work-In-Progress (30/04)t Costs Added During April 500 70,000 55,000 * Degree of completion: direct materials, 100%; conversion costs, 40%. t Degree of completion: direct materials, 100%; conversion costs, 25%. » Use one decimal point for your calculations i) Summarise output in physical units and calculate equivalent units for Assembly Department of Firm WDC for April 2020. ii) Calculate the equivalent unit costs of opening work in progress i) Calculate the equivalent unit costs of work done in current period only (April 2020)

c) Consider the following data for Firm WDC Firm WDC (Wooden Doors Company) manufactures one type of wooden doors. WDC buys wood as its direct material for the Assembly Department of its London factory. The doors are transferred to the Customised Department, where they are hand-shaped and various metal parts are added to them. Firm WDC uses the weighted-average method of process costing. Consider the following data for the Assembly Department in April 2020: Page 2 of 5 Opening Work-In-Progress (01/04)* Started in April Completed During April Physical Units 1,200 3,100 2,600 Direct Materials (E) 15,700 Conversion Costs (£) 5,800 Closing Work-In-Progress (30/04)t Costs Added During April 500 70,000 55,000 * Degree of completion: direct materials, 100%; conversion costs, 40%. t Degree of completion: direct materials, 100%; conversion costs, 25%. » Use one decimal point for your calculations i) Summarise output in physical units and calculate equivalent units for Assembly Department of Firm WDC for April 2020. ii) Calculate the equivalent unit costs of opening work in progress i) Calculate the equivalent unit costs of work done in current period only (April 2020)

Name: c) Consider the following data for Firm WDCFirm WDC (Wooden Doors Com
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Description: c) Consider the following data for Firm WDCFirm WDC (Wooden Doors Company) manufactures one type of wooden doors. WDC buys woodas its direct material for the Assembly Department of its London factory. The doors are transferredto the Customised Depar

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following information for questions 2-4. Compute It uses activity-based costing. Two of Compute It’s production activities are kitting(assembling the raw materials needed for each computer in one kit) and boxing the completed products for shipment to customers. Assume that Compute It spends $960,000 per month on kitting and $32,000 per month on boxing. Compute it allocates the following: • Kitting costs based on the number of parts used in the computer • Boxing costs based on the cubic feet of space the computer requires Suppose Compute It estimates it will use 400,000 parts per month and ship products with a total volume of 6,400 cubic feet per month. What are the predetermined overhead allocation rates?
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