1. Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: A total of 6,800 units were started and 6,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: a. Cost Materials costs... $5,500 Conversion costs................ $1,700 20% b. Percent Complete 50% Materials costs........ Conversion costs... $158,700 $120,400 The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs. Prepare a quantity schedule and a computation of equivalent units for the month for the first processing department. Determine the costs per equivalent unit for the month.

1. Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: A total of 6,800 units were started and 6,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: a. Cost Materials costs... $5,500 Conversion costs................ $1,700 20% b. Percent Complete 50% Materials costs........ Conversion costs... $158,700 $120,400 The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs. Prepare a quantity schedule and a computation of equivalent units for the month for the first processing department. Determine the costs per equivalent unit for the month.

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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