Great Pasta Company manufactures a single product that goes through two processes-mixing and cooking. The following data pertains to the Mixing Department for September. Work-in-process Inventory September 1 Conversion complete Work-in-process inventory September 30 Conversion complete Units started into production in September Units completed and transferred out Costs Work-in-process inventory September 1 Material P Material Q Conversion Costs added in September Material P Material Q Conversion 33,000 units 70% 22,000 units 50% 100,000 ? units $167,000 153,000 167,000 $251,000 230,000 494,200 Material P is added at the beginning of work in the Mixing Department. Material Q is also added in the Mixing Department, but not until units of product are forty percent completed with regard to conversion. Conversion costs are incurred uniformly during the process. Cost per equivalent unit for conversion under the weighted-average method is calculated to be:
Great Pasta Company manufactures a single product that goes through two processes-mixing and cooking. The following data pertains to the Mixing Department for September. Work-in-process Inventory September 1 Conversion complete Work-in-process inventory September 30 Conversion complete Units started into production in September Units completed and transferred out Costs Work-in-process inventory September 1 Material P Material Q Conversion Costs added in September Material P Material Q Conversion 33,000 units 70% 22,000 units 50% 100,000 ? units $167,000 153,000 167,000 $251,000 230,000 494,200 Material P is added at the beginning of work in the Mixing Department. Material Q is also added in the Mixing Department, but not until units of product are forty percent completed with regard to conversion. Conversion costs are incurred uniformly during the process. Cost per equivalent unit for conversion under the weighted-average method is calculated to be:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
7
Transcribed Image Text:#2
7
Saved
Great Pasta Company manufactures a single product that goes through two processes - mixing and cooking. The following data pertains to the Mixing Department for September.
pped
Print
Work-in-process Inventory September 1
Work-in-process inventory September 30
Conversion complete
Conversion complete
Units started into production in September
Units completed and transferred out
Costs
Work-in-process inventory September 1
Material P
Material Q
Conversion
Costs added in September
Material P
Material Q
Conversion
33,000 units
70%
22,000 units
50%
? units
100,000
$ 167,000
153,000
167,000
$ 251,000
230,000
494,200
Material P is added at the beginning of work in the Mixing Department. Material Q is also added in the Mixing Department, but not until units of product are forty percent completed with regard to conversion. Conversion costs are incurred uniformly
during the process.
Cost per equivalent unit for conversion under the weighted-average method is calculated to be:
Multiple Choice
O
$3.14.
$2.41.
$4.81.
$5.42.
$2.88
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education