Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Metnoe Godfrey Manufacturing, Inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Process-Blending Department account for January 2016 is missing a few items. Work in Process-Blending Department January 1 inventory (5,000 gallons, 60% processed) Direct material. $ 12,000 5,900 Conversion costs Transferred to Bottling Department (60,000 gallons). January charges: Direct material (61,000 gallons) Direct labor.. Manufacturing overhead January 31 inventory 152,500 73,600 48,800 gallons, 70% processed) Required Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the Blending Department: Number of units in the January 31 inventory. b. Equivalent units for materials and conversion costs. January cost per equivalent unit for materials and conversion costs. d. а. с. Cost of the units transferred to the Bottling Department. Cost of the incomplete units in the January 31 inventory. е.
Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Metnoe Godfrey Manufacturing, Inc., operates a plant that produces its own regionally-marketed Spicy Steak Sauce. The sauce is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the start of the process, and labor and overhead are incurred evenly throughout the process. Godfrey uses the weighted average method. The following data from the Work in Process-Blending Department account for January 2016 is missing a few items. Work in Process-Blending Department January 1 inventory (5,000 gallons, 60% processed) Direct material. $ 12,000 5,900 Conversion costs Transferred to Bottling Department (60,000 gallons). January charges: Direct material (61,000 gallons) Direct labor.. Manufacturing overhead January 31 inventory 152,500 73,600 48,800 gallons, 70% processed) Required Assuming Godfrey uses the weighted average method in process costing, calculate the following amounts for the Blending Department: Number of units in the January 31 inventory. b. Equivalent units for materials and conversion costs. January cost per equivalent unit for materials and conversion costs. d. а. с. Cost of the units transferred to the Bottling Department. Cost of the incomplete units in the January 31 inventory. е.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Please help me figure a-e
Transcribed Image Text:P4-1A. Calculate Equivalent Units, Unit Costs, and Transferred Costs-Weighted Average Method
Godfrey Manufacturing, Inc., operates a plant that produces its own regionally-marketed Spicy Steak
Sauce. The sauce is produced in two processes, blending and bottling. In the Blending
Department, all materials are added at the start of the process, and labor and overhead are incurred
evenly throughout the process. Godfrey uses the weighted average method. The following data from
the Work in Process-Blending Department account for January 2016 is missing a few items:
LOS
Work in Process-Blending Department
January 1 inventory (5,000 gallons, 60% processed)
Direct material.
$ 12,000
5,900
Conversion costs
Transferred to Bottling Department (60,000 gallons).
January charges:
Direct material (61,000 gallons)
152,500
73,600
48,800
Direct labor. .
Manufacturing overhead
January 31 inventory
gallons, 70% processed)
Required
Assuming Godfrey uses the weighted average method in process costing, calculate the following
amounts for the Blending Department:
Number of units in the January 31 inventory.
b. Equivalent units for materials and conversion costs.
c. January cost per equivalent unit for materials and conversion costs.
Cost of the units transferred to the Bottling Department.
Cost of the incomplete units in the January 31 inventory.
а.
d.
е.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 4 images
Knowledge Booster
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education