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Healthcheck Corp. manufactures an antacid product that passes through two departments. Data for June for the first department follow: Work in process, June 1 Litres started in process Litres transferred out Work in process, June 30 Cost added during June Litres Materials Labour Overhead 80,000 760,000 790,000 50,000 $ $ 68,600 907,200 $ 30,000 $ 370,000 $ 48,000 Required: Assume that the company uses the weighted-average method of accounting for units and costs. 1. Compute the equivalent units for June's activity for the first department. 2. Determine the costs per equivalent unit for June. (Round your answers to 2 decimal places.) $ 592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labour and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labou and overhead.

Healthcheck Corp. manufactures an antacid product that passes through two departments. Data for June for the first department follow: Work in process, June 1 Litres started in process Litres transferred out Work in process, June 30 Cost added during June Litres Materials Labour Overhead 80,000 760,000 790,000 50,000 $ $ 68,600 907,200 $ 30,000 $ 370,000 $ 48,000 Required: Assume that the company uses the weighted-average method of accounting for units and costs. 1. Compute the equivalent units for June's activity for the first department. 2. Determine the costs per equivalent unit for June. (Round your answers to 2 decimal places.) $ 592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labour and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labou and overhead.

FINANCIAL ACCOUNTING
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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Healthcheck Corp. manufactures an antacid product that passes through two departments. Data for June for the first department follow: Work in process, June 1 Litres started in process Litres transferred out Work in process, June 30 Cost added during June Litres Materials Labour Overhead 80,000 760,000 790,000 50,000 $ $ 68,600 $ 30,000 $ 48,000 907,200 $ 370,000 $ 592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labour and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labour and overhead. Required: Assume that the company uses the weighted-average method of accounting for units and costs. 1. Compute the equivalent units for June's activity for the first department. 2. Determine the costs per equivalent unit for June. (Round your answers to 2 decimal places.)
Transcribed Image Text:Healthcheck Corp. manufactures an antacid product that passes through two departments. Data for June for the first department follow: Work in process, June 1 Litres started in process Litres transferred out Work in process, June 30 Cost added during June Litres Materials Labour Overhead 80,000 760,000 790,000 50,000 $ $ 68,600 $ 30,000 $ 48,000 907,200 $ 370,000 $ 592,000 The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labour and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labour and overhead. Required: Assume that the company uses the weighted-average method of accounting for units and costs. 1. Compute the equivalent units for June's activity for the first department. 2. Determine the costs per equivalent unit for June. (Round your answers to 2 decimal places.)
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