PROBLEM 16: Cost of Production ReportSpiderman Corp. has two departments. The following are the data of the twodepartments.QuantityBeginning WIP October 1Incomplete as to materiaComplete as to conversion costDepartmant 132,500Department 222,50030%40%20%75%Units started in OctoberUnits Completed in OctoberEnding WIP October 31Complete as to materialIncomplete as to conversion cost120,000112,50027,50060%0%80%60%CostsBeginning WIPTransferred in287,500120,00042,500Materials200,000187,500ConversionCurrent PeriodTransferred inMaterialsConversion875,000500,000125,000300,000Required:Compute the ending inventory costs for the two departments.• Using Weighted methoda. Compute the EUP of the two departments.b. Compute the unit cost of the two departments.c. Compute the costs transferred to out the two departments.d. Compute the ending inventory costs for the two departments.

Given that, For Department 1 : On October 1, Beginning inventory = 32500 units Incomplete as…

PROBLEM 16: Cost of Production Report Spiderman Corp. has two departments. The following are departments. Quantity Beginning WIP October 1 Incomplete as to material Complete as to conversion cost Departmont 1 32,500 20% 75% Units started in October Units Completed in October Ending WIP October 31 Complete as to material Incomplete as to conversion cost 120,000 ? 27,500 60% 80% Costs Beginning WIP Transferred in Materials 200,000 187,500 Conversion Current Period Transferred in Materials Conversion 875,000 500,000 Required: Compute the ending inventory costs for the two department -Using Weighted method a. Compute the EUP of the two departments. b. Compute the unit cost of the two departments. c. Compute the costs transferred to out the two departn d. Compute the ending inventory costs for the two depat

PROBLEM 16: Cost of Production Report Spiderman Corp. has two departments. The following are departments. Quantity Beginning WIP October 1 Incomplete as to material Complete as to conversion cost Departmont 1 32,500 20% 75% Units started in October Units Completed in October Ending WIP October 31 Complete as to material Incomplete as to conversion cost 120,000 ? 27,500 60% 80% Costs Beginning WIP Transferred in Materials 200,000 187,500 Conversion Current Period Transferred in Materials Conversion 875,000 500,000 Required: Compute the ending inventory costs for the two department -Using Weighted method a. Compute the EUP of the two departments. b. Compute the unit cost of the two departments. c. Compute the costs transferred to out the two departn d. Compute the ending inventory costs for the two depat

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.

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PROBLEM 16: Cost of Production Report
Spiderman Corp. has two departments. The following are the data of the two
departments.
Quantity
Beginning WIP October 1
Incomplete as to materia
Complete as to conversion cost
Departmant 1
32,500
Department 2
22,500
30%
40%
20%
75%
Units started in October
Units Completed in October
Ending WIP October 31
Complete as to material
Incomplete as to conversion cost
120,000
112,500
27,500
60%
0%
80%
60%
Costs
Beginning WIP
Transferred in
287,500
120,000
42,500
Materials
200,000
187,500
Conversion
Current Period
Transferred in
Materials
Conversion
875,000
500,000
125,000
300,000
Required:
Compute the ending inventory costs for the two departments.
• Using Weighted method
a. Compute the EUP of the two departments.
b. Compute the unit cost of the two departments.
c. Compute the costs transferred to out the two departments.
d. Compute the ending inventory costs for the two departments.

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View Policies Current Attempt in Progress The Smelting Department of Kiner Company has the following production data for November. Production: Beginning work in process 2,800 units that are 100% complete as to materials and 24% complete as to conversion costs; units transferred out 9,100 units; and ending work in process 7,200 units that are 100% complete as to materials and 46% complete as to conversion costs. Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November. Materials Conversion Costs Total equivalent units Save for Later Attempts: 0 of 3 used Submit Answer O 4) to search
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