Barker Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.Work in process, beginning:Units in process800Percent complete with respect to materials50%Percent complete with respect to conversion20%Costs in the beginning inventory:Materials cost$2,440Conversion cost$4,92815,00015,600Units started into production during the monthUnits completed and transferred outCosts added to production during the month:$96,470$476,362Materials costConversion costWork in process, ending:Units in process200Percent complete with respect to materials50%Percent complete with respect to conversion90%Using the weighted-average method:a. Determine the equivalent units of production for materials ONLY.HINT: These are the requirements for the succeeding numbers:b. Determine the TOTAL cost per equivalent unit for materials AND conversion costs.c. Determine the cost of units transferred out of the department during the month.d. Determine the cost of ending work in process inventory in the department.

Name: Barker Inc. uses the weighted-average method in its process costing s
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Description: Barker Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.Work in process, beginning:Units in process800Percent complete with

a)Equivalent units of material Particulars actual units Equivalent units Units completed and…

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Barker Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process 800 Percent complete with respect to materials 50% Percent complete with respect to conversion 20% Costs in the beginning inventory: Materials cost $2,440 Conversion cost $4,928 Units started into production during the month 15,000 Units completed and transferred out 15,600 Costs added to production during the month: Materials cost $96,470 Conversion cost $476,362 Work in process, ending: Units in process 200 Percent complete with respect to materials 50% Percent complete with respect to conversion 90% Using the weighted-average method: a. Determine the equivalent units of production for materials ONLY. HINT: These are the requirements for the succeeding numbers: b. Determine the TOTAL cost per equivalent unit for materials AND conversion costs. c. Determine the cost of units transferred out of the department during the month. d. Determine the cost of ending work in process inventory in the department.

Barker Inc. uses the weighted-average method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. Work in process, beginning: Units in process 800 Percent complete with respect to materials 50% Percent complete with respect to conversion 20% Costs in the beginning inventory: Materials cost $2,440 Conversion cost $4,928 Units started into production during the month 15,000 Units completed and transferred out 15,600 Costs added to production during the month: Materials cost $96,470 Conversion cost $476,362 Work in process, ending: Units in process 200 Percent complete with respect to materials 50% Percent complete with respect to conversion 90% Using the weighted-average method: a. Determine the equivalent units of production for materials ONLY. HINT: These are the requirements for the succeeding numbers: b. Determine the TOTAL cost per equivalent unit for materials AND conversion costs. c. Determine the cost of units transferred out of the department during the month. d. Determine the cost of ending work in process inventory in the department.

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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