Q1: Company has $1,400 indirect expenses. Following are thethree departments through which a product manufactures.Company's costing record provided the following informationfor the month of June, 2022. Company produced 430 unitsthroughout. In addition, $135 & $150 worth of products sold outin the department B and department C respectively.Dept. A (S) Dept. B (S) Dept. C (S)1,2002,300 1,8252,440835Materials 2,800 1,650Labor 2,200650MOHInstructions:i. Pass necessary entries in company's journal.ii. Prepare T-Accounts of three departments.iii. Compute per unit cost of the product.

1.Record Production Cost:ParticularsDebitCreditWork-in-Process (WIP) $1,400…

Answered: Instructions: i. Pass necessary entries…

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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3. Using the following terms, prepare the worksheet to show the calculation to answer the question: Units completed and transferred out Cost per material Cost per conversion Equivalent units conversion Beginning inventory Units started in production Total units to account for Total work in process Ending inventory Units transferred in Total units accounted for Costs to account for Question: Given the following information, determine the equivalent units of ending work in process for materials and conversion under the weighted-average method: beginning inventory of 2,500 units is 100% complete with regard to materials and 60% complete with regard to conversion 18,000 units were started during the period 17,500 units were completed and transferred ending inventory is 100% complete with materials and 65% complete with conversion PLEASE NOTE: For units, use commas as needed (i.e. 1,234). Units to Account For: Units ? ? ? ? ? ? Units Accounted For: Total Units…
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Instructions: i. Pass necessary entries in company's journal. ii. Prepare T-Accounts of three departments. iii. Compute per unit cost of the product.