Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department fo appear below: Work in process, May 1 Cost added during May Equivalent units of production Cost per equivalent unit Materials $ 16,300 $ 99,130 1,400 Materials Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.) Labor $ 25,389 $ 16,926 1,300 Labor Overhead $ 121,572 $ 81,048 1,200 Overhead Total

Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department fo appear below: Work in process, May 1 Cost added during May Equivalent units of production Cost per equivalent unit Materials $ 16,300 $ 99,130 1,400 Materials Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.) Labor $ 25,389 $ 16,926 1,300 Labor Overhead $ 121,572 $ 81,048 1,200 Overhead Total

Name: Superior Micro Products uses the weighted-average method in its proce
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Description: Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for Mayappear below:Work in process, May 1Cost added during MayEquivalent units of productionCost per equivalent unitMaterials$

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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Sur Company uses the weighted-average method in its process costing system. Information for the month of May concerning Department A, the first stage of the company's production process follows: Materials Conversion Work in process, beginning.. OR 4,000 OR 3,000 Current costs added.. 20,000 16,000 Total costs.. Equivalent units... 主 Costs per equivalent unit. Goods completed.. 90,000 units Work in proceSs, ending.. 10,000 units Material costs are added at the beginning of the process. The ending work in process is 50% complete with respect to conversion Costs..
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Pureform, Incorporated, uses the FIFO method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow: Units Materials Labor Overhead Work in process inventory, beginning 60,000 $ 67,300 $ 11,400 $ 21,000 Units started in process 569,000 Units transferred out 590,000 Work in process inventory, ending 39,000 Cost added during the month $ 985,775 $ 225,800 $ 254,025 The beginning work in process inventory was 90% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 70% complete with respect to materials and 50% complete with respect to labor and overhead. Required: 1. Compute the first department's equivalent units of production for materials, labor, and overhead for the month. 2. Compute the first department's cost per equivalent unit for materials, labor, overhead, and in…
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Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Work in process, May 1 $ 29,500 $ 48,456 $ 236,049 Cost added during May $ 179,375 $ 32,304 $ 157,366 Equivalent units of production 2,500 2,400 2,300 Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)
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•) Mccabe Corporation uses the weighted average Method in it's process Costing. The following data pertain to its Assembly Department for September. Work in process, September Units Started into production doring September Units Completed during September and transferred to the next department Work in process, September 30 Percentage Complete Units Material Conversion 800 55% 10.1. 8,200 7,300 1,700 25% 25.1. Compute the equivalent units of production for both materials and Conversion Cost for the Assembly Department for September Using the weighted average method.