Hi expert please give me answer general accounting On May 1, 2024, Sterling Manufacturing has a beginning Work inProcess inventory of zero. All materials are added at the beginningof production into a single WIP inventory. During the month, 42,000units were started. At month-end, all started units were 60%complete with respect to conversion. Direct Materials placed intoproduction had a total cost of $425,000 and the total conversion costfor the month was $546,000. Sterling uses the weighted-averageprocess costing method. Calculate the cost per equivalent unit ofconversion for May. (Round to nearest cent.)

Step 1: Define Cost Per Equivalent UnitThe cost per equivalent unit is a measure used in process…

Answered: On May 1, 2024, Sterling Manufacturing…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

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Chapter5: Process Costing

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Problem 4EA: There were 1,700 units in beginning inventory that were 40% complete with regard to conversion....

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By how much did the direct materials EUP for the month of October using average method exceed the direct materials EUP for the same month using FIFO method?
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[The following information applies to the questions displayed below.] Pacific Ink had beginning work-in-process inventory of $748,960 on October 1. Of this amount, $311,920 was the cost of direct materials and $437,040 was the cost of conversion. The 55,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 116,000 units were transferred out and 37,000 remained in ending inventory. The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,821,000 for direct materials and $3,582,720 for conversion. Exercise 8-38 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: Weighted-Average Method (LO 8-2, 3) Compute the costs of goods transferred out and the ending inventory using the weighted-average method. (Round intermediate calculations to 2 decimal places.)
[The following information applies to the questions displayed below.] Pacific Ink had beginning work-in-process inventory of $750,960 on October 1. Of this amount, $307,920 was the cost of direct materials and $443,040 was the cost of conversion. The 51,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 108,000 units were transferred out and 33,000 remained in ending inventory. The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,556,000 for direct materials and $3,278,760 for conversion. Required: a. Compute the equivalent units for the materials and conversion cost calculations. Equivalent units for materials Equivalent units for conversion costs b. Compute the cost per equivalent unit for direct…
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Waling-waling Company had 6,400 units of work-in-process inventory in department A on October 1, 2022. These units were 60% complete as to conversion. Direct materials are added at the beginning of the process. During the month of October, 27,200 units were started and 28,800 units were completed. Waling-Waling had 4,800 units of work-in-process inventory on October 31, 2022. These units were 20% incomplete as to conversion cost. 1.) By how much did the conversion cost EUP for the month of October using average method exceed the conversion EUP for the same month using FIFO method? 2.) By how much did the direct materials EUP for the month of October using average method exceed the direct materials EUP for the same month using FIFO method?
Waling-waling Company had 6,400 units of work-in-process inventory in department A on October 1, 2022. These units were 60% complete as to conversion. Direct materials are added at the beginning of the process. During the month of October, 27,200 units were started and 28,800 units were completed. Waling-Waling had 4,800 units of work-in-process inventory on October 31, 2022. These units were 20% incomplete as to conversion cost.By how much did the direct materials EUP for the month of October using average method exceed the direct materials EUP for the same month using FIFO method?

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