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FINANCIAL ACCOUNTING
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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Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Production cost information for the Painting department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 22,400 6,250 $ 229,600 540, 500 Units 20,000 115,000 120,000 15,000 $ 28,650 Direct materials Percent Complete 70% 40% Conversion Percent Complete 20% 10% 770, 100 If Skye Manufacturing uses the weighted-average method of process costing, compute the cost per equivalent unit for direct materials and conversion respectively for the Painting department.
Transcribed Image Text:Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Production cost information for the Painting department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 22,400 6,250 $ 229,600 540, 500 Units 20,000 115,000 120,000 15,000 $ 28,650 Direct materials Percent Complete 70% 40% Conversion Percent Complete 20% 10% 770, 100 If Skye Manufacturing uses the weighted-average method of process costing, compute the cost per equivalent unit for direct materials and conversion respectively for the Painting department.
O $2.00, $4.50. $1.82 $4.45. $2.05, $4.60. $2.05, $4.45 $2.25, $4.65
Transcribed Image Text:O $2.00, $4.50. $1.82 $4.45. $2.05, $4.60. $2.05, $4.45 $2.25, $4.65
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