At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: Beginning WIP direct materials Beginning WIP conversion costs Costs of materials added Costs of conversion added WIP beginning (50% for conversion) Units started 106,700 Units completed and transferred out units WIP ending (60% for conversion) 41,000 units What is the cost per equivalent unit for conversion costs? $2.88 $3.25 $2.97 $32,000 $36,000 $384,100 $390,100 25,200 units 122,500 units O $3.57

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

Please do not give solution in image format thanku 

At Hodgson Corporation, direct materials are added at the beginning of the process and
conversions costs are uniformly applied. Other details include:
Beginning WIP direct materials
Beginning WIP conversion costs
Costs of materials added
$32,000
$36,000
$384,100
$390,100
25,200 units
122,500
units
106,700
Units completed and transferred out
units
WIP ending (60% for conversion)
41,000 units
What is the cost per equivalent unit for conversion costs?
Costs of conversion added
WIP beginning (50% for conversion)
Units started
$2.88
$3.25
$2.97
O $3.57
Transcribed Image Text:At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: Beginning WIP direct materials Beginning WIP conversion costs Costs of materials added $32,000 $36,000 $384,100 $390,100 25,200 units 122,500 units 106,700 Units completed and transferred out units WIP ending (60% for conversion) 41,000 units What is the cost per equivalent unit for conversion costs? Costs of conversion added WIP beginning (50% for conversion) Units started $2.88 $3.25 $2.97 O $3.57
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education