Please show all of the calculations and the correct answers for all. Please remember answer all. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process inJune. (Round intermediate calculations to 3 decimal places.)Cost of ending work in process inventoryCost of units completed and transferred outCost ReconciliationCosts to be accounted for:Cost of beginning work in process inventoryCosts added to production during the periodTotal cost to be accounted forCosts accounted for as follows:Transferred to next department:Work in process June 30MaterialsConversion$$Total cost accounted forMaterials$63,336 $410,800 $4. Prepare a report that reconciles the total costs assigned to the ending work in process inventory and the units transferred out withthe costs in beginning inventory and costs added during the period. (Round intermediate calculations to 3 decimal places.)$0Conversion0016,118 $156,815 $Total79,454567,615 CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the tablebelow is available about work in the first department, the Mixing Department, during June:Work in process, beginningStarted into productionCompleted and transferred outWork in process, endingWork in process, beginningCost added during JuneRequired:Assume that the company uses the weighted-average method.1. Determine the equivalent units for Jure for the first process.Equivalent units of productionMaterials Conversion455,900 435,600Cost per equivalent unitUnits51,500445,000395,000101,500Materials Conversion$1.040 $0.397Percent CompleteMaterials75%60%Materials$ 47,000$427,000Conversion30%2. Compute the costs per equivalent unit for June for the first process. (Round your answers to 3 decimal places.)40%Conversion$ 26,500$146,500

The equivalent units are calculated on the basis of the percentage of the work completed during the…

CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the table below is available about work in the first department, the Mixing Department, during June: Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 51,500 445,000 395,000 101,500 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for Jure for the first process. Percent Complete Materials 75% 60% Materials $ 47,000 $427,000 Conversion 30% 40% Conversion $ 26,500 $146,500

CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the table below is available about work in the first department, the Mixing Department, during June: Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Cost added during June Units 51,500 445,000 395,000 101,500 Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for Jure for the first process. Percent Complete Materials 75% 60% Materials $ 47,000 $427,000 Conversion 30% 40% Conversion $ 26,500 $146,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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