Star Plastic company produces plastic cups. table below are the data for April 2019. Star Plastic uses the weighted average method for inventory calculations. raw materials are added at the beginning of the production process while conversion costs are added evenly throughout the process. calculate equivalent units (EU) for DIRECT MATERIALS PhysicalUnitsDirectConversionMaterialsCosts$ 13,332|Work in process, beginning inventory (April 1)Degree of completion of beginning work in processStarted during AprilGood units completed and transferred out during April|Work in process, ending inventory (April 30)Degree of completion of ending work in processTotal costs added during April|Normal spoilage as a percentage of good unitsDegree of completion of normal spoilageDegree of completion of abnormal spoilage2,400$21,240100%50%12,00010,8002,16075%$111,408100%$97,56010%100%100%100%100%

Equivalent units of products concept came in to existence when some units are not fully completed at…

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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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Star Plastic company produces plastic cups. table below are the data for April 2019. Star Plastic uses the weighted average method for inventory calculations. raw materials are added at the beginning of the production process while conversion costs are added evenly throughout the process. calculate equivalent units (EU) for DIRECT MATERIALS

Physical
Units
Direct
Conversion
Materials
Costs
$ 13,332
|Work in process, beginning inventory (April 1)
Degree of completion of beginning work in process
Started during April
Good units completed and transferred out during April
|Work in process, ending inventory (April 30)
Degree of completion of ending work in process
Total costs added during April
|Normal spoilage as a percentage of good units
Degree of completion of normal spoilage
Degree of completion of abnormal spoilage
2,400
$21,240
100%
50%
12,000
10,800
2,160
75%
$111,408
100%
$97,560
10%
100%
100%
100%
100%

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