Requirements: USE WEIGHTED AVERAGE METHOD the unit cost of materials, rounded to 2 decimal places, for March is equivalent unit conversion cost, rounded to 2 decimal places, for March is the total equivalent units of production for direct materials is the total cost of the units in the ending work-in-process inventory at March 31 is
Requirements: USE WEIGHTED AVERAGE METHOD the unit cost of materials, rounded to 2 decimal places, for March is equivalent unit conversion cost, rounded to 2 decimal places, for March is the total equivalent units of production for direct materials is the total cost of the units in the ending work-in-process inventory at March 31 is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Requirements: USE WEIGHTED AVERAGE METHOD
the unit cost of materials, rounded to 2 decimal places, for March is
equivalent unit conversion cost, rounded to 2 decimal places, for March is
the total equivalent units of production for direct materials is
the total cost of the units in the ending work-in-process inventory at March 31 is
Transcribed Image Text:Geller Manufacturing uses a process cost system to manufacture sensors for the
security industry. The following information pertains to operations for the month of
March.
Units
Beginning work-in-process inventory, March 1
Started in production during March
Completed production during March
Ending work-in-process inventory, March 31
12,000
110,000
88,000
34,000
The beginning inventory was 70% complete for materials and 30% complete for
conversion costs. The ending inventory was 90% complete for materials and
50% complete for conversion costs.
Costs pertaining to the month of March are as follows:
Beginning inventory costs are: materials, $44,400; conversion cost $30,500.
Costs incurred during March are: materials used, $588,000; conversion cost
$624,000.
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