Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs $ 27,053 8,755 163,207 84,065 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory 6,000 units (40% complete as to materials, 15% complete as to conversion) 45,300 units 24,000 units (75% complete as to materials, 35% complete as to conversion) juired: Compute the equivalent units for the materials and conversion cost calculations. Compute the cost per equivalent unit for direct materials and conversion costs.
Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February: Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs $ 27,053 8,755 163,207 84,065 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory 6,000 units (40% complete as to materials, 15% complete as to conversion) 45,300 units 24,000 units (75% complete as to materials, 35% complete as to conversion) juired: Compute the equivalent units for the materials and conversion cost calculations. Compute the cost per equivalent unit for direct materials and conversion costs.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting
records show the following information for February:
Beginning WIP inventory
Direct materials
Conversion costs
Current period costs
Direct materials
Conversion costs
$ 27,053
8,755
Beginning inventory
Current period units started
Ending inventory
163, 207
84,065
Quantity information is obtained from the manufacturing records and includes the following:
6,000 units (40% complete as to materials, 15% complete as to conversion)
45,300 units
24,000 units (75% complete as to materials, 35% complete as to conversion)
quired:
Compute the equivalent units for the materials and conversion cost calculations.
Compute the cost per equivalent unit for direct materials and conversion costs.
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