Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year’s production: Units to Account For Units Materials Conversion Beginning work in process inventory 500 500 250 Started 21,500 Total units to accounted for 22,000 Ending inventory was 100% complete as to materials and 80% complete as to conversion, and the total materials cost is $60,500 and the total conversion cost is $38,010. Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? If required, round final answers to two decimal places. Cost per unit Materials $fill in the blank 1 Conversion $fill in the blank 2 Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out $fill in the blank 3 Ending WIP inventory $fill in the blank 4
Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year’s production: Units to Account For Units Materials Conversion Beginning work in process inventory 500 500 250 Started 21,500 Total units to accounted for 22,000 Ending inventory was 100% complete as to materials and 80% complete as to conversion, and the total materials cost is $60,500 and the total conversion cost is $38,010. Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? If required, round final answers to two decimal places. Cost per unit Materials $fill in the blank 1 Conversion $fill in the blank 2 Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory? Inventory transferred out $fill in the blank 3 Ending WIP inventory $fill in the blank 4
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired individuals. Manufacturing is a one-step process where the bands are cut and sewn. This is the information related to this year’s production:
| Units to Account For | Units | Materials | Conversion |
| Beginning work in process inventory | 500 | 500 | 250 |
| Started | 21,500 | ||
| Total units to accounted for | 22,000 |
Ending inventory was 100% complete as to materials and 80% complete as to conversion, and the total materials cost is $60,500 and the total conversion cost is $38,010.
Using the weighted-average method, what are the unit costs if the company transferred out 17,000 units? If required, round final answers to two decimal places.
| Cost per unit |
|
| Materials | $fill in the blank 1 |
| Conversion | $fill in the blank 2 |
Using the weighted-average method, what is the value of the inventory transferred out and the value of the ending WIP inventory?
| Inventory transferred out | $fill in the blank 3 |
| Ending WIP inventory | $fill in the blank 4 |
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