PROBLEM 6-10 Equivalent Units, Cost per Equivalent Unit, Assigning Costs-Weighted-Average Method [LO2, L03,L04,L05] CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the table below is available about work in the first department, the Mixing Department, during June: Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Costs added during June Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the first process. Percentage Complete Units Materials 50,000 75% 430,000 380,000 100,000 2. Compute the costs per equivalent unit for June for the first process. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in June. Conversion 30% 60% Materials $ 45,500 $425,500 40% Conversion $ 25,000 $145,000

PROBLEM 6-10 Equivalent Units, Cost per Equivalent Unit, Assigning Costs-Weighted-Average Method [LO2, L03,L04,L05] CloverSweet Inc. manufactures a product that goes through two departments prior to completion. The information shown in the table below is available about work in the first department, the Mixing Department, during June: Work in process, beginning Started into production Completed and transferred out Work in process, ending Work in process, beginning Costs added during June Required: Assume that the company uses the weighted-average method. 1. Determine the equivalent units for June for the first process. Percentage Complete Units Materials 50,000 75% 430,000 380,000 100,000 2. Compute the costs per equivalent unit for June for the first process. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in June. Conversion 30% 60% Materials $ 45,500 $425,500 40% Conversion $ 25,000 $145,000

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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