Equivalent Units and Product Cost Report-Weighted Average Method In its first month's operations, Allred Company's Department 1 incurred charges of $ 360,000 for direct materials (15,000 units), $99,000 for direct labor, and $ 174,000 for manufacturing overhead. At month - end, 13, 200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs. Assuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following: The equivalent units of materials and conversion costs. The cost per equivalent unit of materials and conversion costs. The total cost assigned to the units transferred out. The total cost assigned to the ending inventory. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for. Round average cost per equivalent unit to two decimal places, if applicable. Round other answers to the nearest whole number, when

Equivalent Units and Product Cost Report-Weighted Average Method In its first month's operations, Allred Company's Department 1 incurred charges of $ 360,000 for direct materials (15,000 units), $99,000 for direct labor, and $ 174,000 for manufacturing overhead. At month - end, 13, 200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs. Assuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following: The equivalent units of materials and conversion costs. The cost per equivalent unit of materials and conversion costs. The total cost assigned to the units transferred out. The total cost assigned to the ending inventory. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for. Round average cost per equivalent unit to two decimal places, if applicable. Round other answers to the nearest whole number, when

Name: Equivalent Units and Product Cost Report-Weighted Average Method In i
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Description: Equivalent Units and Product Cost Report-Weighted Average Method In itsfirst month's operations, Allred Company's Department 1 incurred charges of $360,000 for direct materials (15,000 units), $99,000 for direct labor, and $174,000 for manufacturing

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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In its first month's operations, Allred Company's Department 1 incurred charges of $2,160,000 for direct materials (90,000 units), $594,000 for direct labor, and $1,044,000 for manufacturing overhead. At month- end, 79,200 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs. Assuming Allred uses the weighted average method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following: The equivalent units of materials and conversion costs. The cost per equivalent unit of materials and conversion costs. The total cost assigned to the units transferred out. The total cost assigned to the ending inventory. Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for. Round average cost per equivalent unit to two decimal places, if applicable. Round other answers to the nearest whole…