Home Insert Page Layout Formulas Data Review View A в Physical Direct Conversion Units Materials Costs 2 Work in process, beginning inventory (April 1) Degree of completion of beginning work in process 4 Started during April 5 Good units completed and transferred out during April 6 Work in process, ending inventory (April 30) Degree of completion of ending work in process 8 Total costs added during April 9 Normal spoilage as a percentage of good units 10 Degree of completion of normal spoilage 11 Degree of completion of abnormal spoilage $ 13,332 50% 2,400 $21,240 3 100% 12,000 10,800 2,160 100% 75% $97,560 $111,408 10% 100% 100% 100% 100%
Home Insert Page Layout Formulas Data Review View A в Physical Direct Conversion Units Materials Costs 2 Work in process, beginning inventory (April 1) Degree of completion of beginning work in process 4 Started during April 5 Good units completed and transferred out during April 6 Work in process, ending inventory (April 30) Degree of completion of ending work in process 8 Total costs added during April 9 Normal spoilage as a percentage of good units 10 Degree of completion of normal spoilage 11 Degree of completion of abnormal spoilage $ 13,332 50% 2,400 $21,240 3 100% 12,000 10,800 2,160 100% 75% $97,560 $111,408 10% 100% 100% 100% 100%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
LaCroix Company produces handbags from leather of moderate quality. It distributes the product through outlet stores and department store chains. At LaCroix’s facility in northeast Ohio, direct materials (primarily leather hides) are added at the beginning of the process, while conversion costs are added evenly during the process. Given the importance of minimizing product returns, spoiled units are detected upon inspection at the end of the process and are discarded at a net disposal value of zero. LaCroix uses the weighted-average method of
Q.For each cost category, calculate equivalent units. Show physical units in the first column of your schedule.
Transcribed Image Text:Home
Insert
Page Layout
Formulas
Data
Review
View
A
в
Physical
Direct
Conversion
Units
Materials
Costs
2 Work in process, beginning inventory (April 1)
Degree of completion of beginning work in process
4 Started during April
5 Good units completed and transferred out during April
6 Work in process, ending inventory (April 30)
Degree of completion of ending work in process
8 Total costs added during April
9 Normal spoilage as a percentage of good units
10 Degree of completion of normal spoilage
11 Degree of completion of abnormal spoilage
$ 13,332
50%
2,400
$21,240
3
100%
12,000
10,800
2,160
100%
75%
$97,560
$111,408
10%
100%
100%
100%
100%
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
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