Delacroix Co. had 800 units of inventory at the beginning of March 2010. Other information about that beginning Work in Process Inventory is as follows: Quantity: 800 units Percent Complete Direct material Direct labor Overhead 45 65 40 Costs Incurred $ 6,748 8,680 5,710 $21,138 Total beginning inventory Direct labor costs were extremely high during February, because the company had a labor strike and paid a high premium to get production workers that month. During March, Delacroix Co. started production of 11,400 units of product and incurred $259,012 for material, $58,200 for direct labor, and $188,210 for overhead. At the end of March, the company had 400 units in process (70 percent complete as to material, 90 percent complete as to direct labor, and 80 percent complete as to overhead).
Delacroix Co. had 800 units of inventory at the beginning of March 2010. Other information about that beginning Work in Process Inventory is as follows: Quantity: 800 units Percent Complete Direct material Direct labor Overhead 45 65 40 Costs Incurred $ 6,748 8,680 5,710 $21,138 Total beginning inventory Direct labor costs were extremely high during February, because the company had a labor strike and paid a high premium to get production workers that month. During March, Delacroix Co. started production of 11,400 units of product and incurred $259,012 for material, $58,200 for direct labor, and $188,210 for overhead. At the end of March, the company had 400 units in process (70 percent complete as to material, 90 percent complete as to direct labor, and 80 percent complete as to overhead).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem No. 3 (Cost Accounting)
Determine the following using the weighted average (WA) method of
1. Equivalent units of production for materials and conversion cost
2. unit costs, and;
3. Inventory values
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