Kramer Corp. began the current period with 4,040 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,550 in direct materials and $4,780 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,080 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,000 in direct materials costs, $7,080 in direct labor costs, and $41,700 in manufacturing overhead costs during the period. Required: a. Using the weighted average method, compute the equivalent units of production for materials. Equivalent Units b. Using the weighted average method, compute the equivalent units of production for conversion. Equivalent Units c. Using the weighted average method, compute the cost per equivalent unit for materials. (Round your answer to 2 decimal places.) Cost per Equivalent Unit d. Using the weighted average method, compute the cost per equivalent unit for conversion. (Round your answer to 2 decimal places.) Cost per Equivalent Unit

Kramer Corp. began the current period with 4,040 units in process that were 100% complete as to materials and 60% complete as to conversion. Costs of $7,550 in direct materials and $4,780 in conversion costs were incurred in manufacturing those units in the previous period. Kramer ended the current period with 20,100 units completed and 5,080 units still in process. Work in process was 100% complete as to materials and 70% complete as to conversion costs. Kramer incurred $68,000 in direct materials costs, $7,080 in direct labor costs, and $41,700 in manufacturing overhead costs during the period. Required: a. Using the weighted average method, compute the equivalent units of production for materials. Equivalent Units b. Using the weighted average method, compute the equivalent units of production for conversion. Equivalent Units c. Using the weighted average method, compute the cost per equivalent unit for materials. (Round your answer to 2 decimal places.) Cost per Equivalent Unit d. Using the weighted average method, compute the cost per equivalent unit for conversion. (Round your answer to 2 decimal places.) Cost per Equivalent Unit

Name: Kramer Corp. began the current period with 4,040 units in process tha
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Description: Kramer Corp. began the current period with 4,040 units in process that were 100% complete as to materials and 60% complete as toconversion. Costs of $7,550 in direct materials and $4,780 in conversion costs were incurred in manufacturing those units

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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