McElroy, Incorporated produces a single model of a popular cell phone in large quantities. A single cell phone moves through two departments, assembly and testing. The manufacturing costs in the assembly department during March follow: Direct materials $ 150,000 Conversion costs 176,000 $ 326,000 The assembly department has no beginning Work-in-Process Inventory. During the month, it started 30,000 cell phones, but only 25,000 were fully completed and transferred to the testing department. All parts had been made and placed in the remaining 5,000 cell phones, but only 50% of the conversion had been completed. The company uses the weighted-average method of process costing to accumulate product costs. Compute the equivalent units and costs per equivalent unit for March in the assembly department. Compute the cost of units completed and transferred to the testing department. Compute the cost of the ending Work-in-Process
McElroy, Incorporated produces a single model of a popular cell phone in large quantities. A single cell phone moves through two departments, assembly and testing. The manufacturing costs in the assembly department during March follow: Direct materials $ 150,000 Conversion costs 176,000 $ 326,000 The assembly department has no beginning Work-in-Process Inventory. During the month, it started 30,000 cell phones, but only 25,000 were fully completed and transferred to the testing department. All parts had been made and placed in the remaining 5,000 cell phones, but only 50% of the conversion had been completed. The company uses the weighted-average method of process costing to accumulate product costs. Compute the equivalent units and costs per equivalent unit for March in the assembly department. Compute the cost of units completed and transferred to the testing department. Compute the cost of the ending Work-in-Process
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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McElroy, Incorporated produces a single model of a popular cell phone in large quantities. A single cell phone moves through two departments, assembly and testing. The
| Direct materials | $ 150,000 |
|---|---|
| Conversion costs | 176,000 |
| $ 326,000 |
The assembly department has no beginning Work-in-Process Inventory. During the month, it started 30,000 cell phones, but only 25,000 were fully completed and transferred to the testing department. All parts had been made and placed in the remaining 5,000 cell phones, but only 50% of the conversion had been completed. The company uses the weighted-average method of
- Compute the equivalent units and costs per equivalent unit for March in the assembly department.
- Compute the cost of units completed and transferred to the testing department.
- Compute the cost of the ending Work-in-Process
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