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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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Consider the following data. Department B of Ethel Manufacturing Corp, suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 1.) Under Weighted Average Method, the EUP for the Work in Process at the End was how many units 2.) Under Weighted Average Method, what was the total unit cost? 3.) Unler Weighted Average Method, how much was the cost of the Finished and Transferred out units? 4.) Under Weighted Average Method, what was the cost of the Work in Process at the end?
Transcribed Image Text:Consider the following data. Department B of Ethel Manufacturing Corp, suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 1.) Under Weighted Average Method, the EUP for the Work in Process at the End was how many units 2.) Under Weighted Average Method, what was the total unit cost? 3.) Unler Weighted Average Method, how much was the cost of the Finished and Transferred out units? 4.) Under Weighted Average Method, what was the cost of the Work in Process at the end?
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