Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October. Work in Process-Department 1 Beginning balance (2,000 units, 70% complete) Direct material Conversion costs Transferred to department 2 (20,000 units) Direct material (21,000 units) Direct labor Manufacturing overhead Ending balance [(b) units, 25% complete] Assuming that Crocker uses the weighted average method and that materials are added at the beginning of the process and conversion costs are incurred evenly throughout, solve for the three missing numbers. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Complete/Transferred Ending Inventory b. Total $23,250 19,200 (a) 236,250 290,400 96,600 (c) Crocker Company Department 1 Equivalent Units Calculations, October 0 0 0 % Work done 0% 0% Equivalent Units Direct Materials % Work Done 0 0 0 0% 0% Conversion Costs 0 0 0

Equivalent Units and Product Cost Report-Weighted Average Method The following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October. Work in Process-Department 1 Beginning balance (2,000 units, 70% complete) Direct material Conversion costs Transferred to department 2 (20,000 units) Direct material (21,000 units) Direct labor Manufacturing overhead Ending balance [(b) units, 25% complete] Assuming that Crocker uses the weighted average method and that materials are added at the beginning of the process and conversion costs are incurred evenly throughout, solve for the three missing numbers. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Complete/Transferred Ending Inventory b. Total $23,250 19,200 (a) 236,250 290,400 96,600 (c) Crocker Company Department 1 Equivalent Units Calculations, October 0 0 0 % Work done 0% 0% Equivalent Units Direct Materials % Work Done 0 0 0 0% 0% Conversion Costs 0 0 0

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Description: Equivalent Units and Product Cost Report-Weighted Average MethodThe following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product forOctober.Work in Pro

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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