Homework Help is Here – Start Your Trial Now!
Business
Accounting
Beginning work in process (27% complete) Direct materials Conversion cost Units 37,000 Total cost of beginning work in process Number of units started 74,000 Number of units completed and transferred to finished goods Ending work in process (50% complete) ? 83,000 Current period costs Direct materials Conversion cost Total current period costs Costs $ 45,000 86,000 $ 131,000 $ 84,000 149,000 $233,000 Required: 1. Using the weighted-average method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using the weighted-average method of process costing, reconcile the total cost of work in process. Note: Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount. Direct Materials Conversion Total Cost Units Completed $ 32,540 $ Ending Inventory Total Cost Accounted for $ 94,969 127,509 $ 37,816 $ 140,343 236,801 364,037 X 178,159 $ 600,838 < Req 1C Req 10

Beginning work in process (27% complete) Direct materials Conversion cost Units 37,000 Total cost of beginning work in process Number of units started 74,000 Number of units completed and transferred to finished goods Ending work in process (50% complete) ? 83,000 Current period costs Direct materials Conversion cost Total current period costs Costs $ 45,000 86,000 $ 131,000 $ 84,000 149,000 $233,000 Required: 1. Using the weighted-average method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using the weighted-average method of process costing, reconcile the total cost of work in process. Note: Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount. Direct Materials Conversion Total Cost Units Completed $ 32,540 $ Ending Inventory Total Cost Accounted for $ 94,969 127,509 $ 37,816 $ 140,343 236,801 364,037 X 178,159 $ 600,838 < Req 1C Req 10

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 10E: Costs per equivalent unit Georgia Products Inc. completed and transferred 89,000 particle board...
See similar textbooks
icon
Related questions
Question
Please do fast
Beginning work in process (27% complete) Direct materials Conversion cost Units 37,000 Total cost of beginning work in process Number of units started 74,000 Number of units completed and transferred to finished goods Ending work in process (50% complete) ? 83,000 Current period costs Direct materials Conversion cost Total current period costs Costs $ 45,000 86,000 $ 131,000 $ 84,000 149,000 $233,000 Required: 1. Using the weighted-average method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using the weighted-average method of process costing, reconcile the total cost of work in process. Note: Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount. Direct Materials Conversion Total Cost Units Completed $ 32,540 $ Ending Inventory Total Cost Accounted for $ 94,969 127,509 $ 37,816 $ 140,343 236,801 364,037 X 178,159 $ 600,838 < Req 1C Req 10
Transcribed Image Text:Beginning work in process (27% complete) Direct materials Conversion cost Units 37,000 Total cost of beginning work in process Number of units started 74,000 Number of units completed and transferred to finished goods Ending work in process (50% complete) ? 83,000 Current period costs Direct materials Conversion cost Total current period costs Costs $ 45,000 86,000 $ 131,000 $ 84,000 149,000 $233,000 Required: 1. Using the weighted-average method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using the weighted-average method of process costing, reconcile the total cost of work in process. Note: Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount. Direct Materials Conversion Total Cost Units Completed $ 32,540 $ Ending Inventory Total Cost Accounted for $ 94,969 127,509 $ 37,816 $ 140,343 236,801 364,037 X 178,159 $ 600,838 < Req 1C Req 10
Expert Solution
steps

Step by step

Solved in 2 steps with 7 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS