Based on customer interest in February, Santana expands her computer workstation furniture business to incluc standardized desks and chairs. She uses the weighted average method of process costing for these products. C three processes: Cutting, Finishing, and Packaging. Information below is for the Cutting process for desks for Fe Cutting process-Desks Beginning work in process inventory Units started this period Units completed and transferred to Finishing Ending work in process

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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SP 16 Serial Problem Business Solutions (Algo) LO P1
Based on customer interest in February, Santana expands her computer workstation furniture business to include mass production of
standardized desks and chairs. She uses the weighted average method of process costing for these products. Desks are made in
three processes: Cutting, Finishing, and Packaging. Information below is for the Cutting process for desks for February.
Cutting process-Desks
Beginning work in process inventory
Units started this period
Units completed and transferred to Finishing
Ending work in process inventory (100% complete for direct materials, 80% complete for conversion)
Costs added this month
Direct materials
Conversion
Cost
$ 32,850
6,450
Required:
1. Compute equivalent units of production for both direct materials and conversion for February
2. Compute cost per equivalent unit for both direct materials and conversion for February.
3. Assign costs to units transferred out to Finishing and to units in ending work in process inventory.
Units
e
90
70
20
Transcribed Image Text:SP 16 Serial Problem Business Solutions (Algo) LO P1 Based on customer interest in February, Santana expands her computer workstation furniture business to include mass production of standardized desks and chairs. She uses the weighted average method of process costing for these products. Desks are made in three processes: Cutting, Finishing, and Packaging. Information below is for the Cutting process for desks for February. Cutting process-Desks Beginning work in process inventory Units started this period Units completed and transferred to Finishing Ending work in process inventory (100% complete for direct materials, 80% complete for conversion) Costs added this month Direct materials Conversion Cost $ 32,850 6,450 Required: 1. Compute equivalent units of production for both direct materials and conversion for February 2. Compute cost per equivalent unit for both direct materials and conversion for February. 3. Assign costs to units transferred out to Finishing and to units in ending work in process inventory. Units e 90 70 20
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