Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the constructionIndustry). The following Information is for the production of these trusses for the month of Februarywork-in-process inventory, February 1Direct materials: 100% completeConversion: 20% completeUnits started during FebruaryUnits completed during February and transferred outWork-in-process inventory, February 29Direct materials: 100% completeConversion: 40% completeCosts incurred during FebruaryDirect materials.ConversionRequiredUsing the weighted-average method, calculate the following:4,200 trusses$10,680$15,4581-a Cost per EU1-b. Cost of goods completed and transferred out1-c Costs remaining in the WIP Inventory account2 The weighted-average cost per equivalent unit18,200 trusses17,200 trusses1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.)1-b. Cost of goods completed and transferred out. (Round "Cost per EU" to 4 decimal places. Round final answer to nearest wholedollars.)Direct Materials$59,240$92,2921-c. Costs remaining in the Work-In-Process Inventory account. (Round "Cost per EU" to 4 decimal places. Do not round otherIntermediate calculations. Round final answer to nearest whole dollars.)2. Assume that you are the company's controller. The production department's February equivalent unit cost is higher than expected. Ifthe manager of the first department asks you to do him a favor by increasing the ending inventory completion percentage from 40 to60% to lower the unit costs, how much would unit cost be affected by this request? (Round your answer to 4 decimal places.)Conversionby

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Description: Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the constructionIndustry). The following Information is for the production of these trusses for the month of Februarywork-in-process inventory, Fe

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Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction Industry). The following Information is for the production of these trusses for the month of February work-in-process inventory, February 1 Direct materials: 100% complete Conversion: 2ex complete Units started during February Units completed during February and transferred out Work-in-process inventory, February 29 Direct materials: 100% complete Conversion: 48% complete Costs incurred during February Direct materials Conversion Required Using the weighted average method, calculate the following: 4,200 trusses $10,680 $15,458 18,200 trusses 17,200 trusses $59,240 $92,292 1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.) 1-b. Cost of goods completed and transferred out (Round "Cost per EU" to 4 decimal places. Round final answer to nearest whole dollars.) 1-c. Costs remaining in the Work-In-Process Inventory account. (Round "Cost per EU" to 4 decimal places. Do not round other Intermediate calqulasi

Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction Industry). The following Information is for the production of these trusses for the month of February work-in-process inventory, February 1 Direct materials: 100% complete Conversion: 2ex complete Units started during February Units completed during February and transferred out Work-in-process inventory, February 29 Direct materials: 100% complete Conversion: 48% complete Costs incurred during February Direct materials Conversion Required Using the weighted average method, calculate the following: 4,200 trusses $10,680 $15,458 18,200 trusses 17,200 trusses $59,240 $92,292 1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.) 1-b. Cost of goods completed and transferred out (Round "Cost per EU" to 4 decimal places. Round final answer to nearest whole dollars.) 1-c. Costs remaining in the Work-In-Process Inventory account. (Round "Cost per EU" to 4 decimal places. Do not round other Intermediate calqulasi

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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