The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 47,500 partially complete gallons, 20 percent complete with respect to conversion costs. -Units started in July, 87,500 gallons. -Units transferred out in July, 97,500 gallons. Ending inventory, 37,500 gallons, 45 percent complete with respect to conversion costs. Cost per equivalent unit $ 63,500 42,500 $ 106,000 Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average Note: Round your answers to 2 decimal places. Direct Materials $ 195,000 445,000 $ 640,000 Conversion Costs
The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total Materials are added at the beginning of the process. The following quantities have been recorded: Beginning inventory, 47,500 partially complete gallons, 20 percent complete with respect to conversion costs. -Units started in July, 87,500 gallons. -Units transferred out in July, 97,500 gallons. Ending inventory, 37,500 gallons, 45 percent complete with respect to conversion costs. Cost per equivalent unit $ 63,500 42,500 $ 106,000 Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average Note: Round your answers to 2 decimal places. Direct Materials $ 195,000 445,000 $ 640,000 Conversion Costs
Cornerstones of Cost Management (Cornerstones Series)
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Chapter6: Process Costing
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Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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![The following cost information is available for July for the Crest Plant at Calvert Company:
Beginning work-in-process inventory
Materials cost
Conversion cost
Total
●
Current costs
Materials cost
Conversion cost
Total
Materials are added at the beginning of the process. The following quantities have been recorded:
●
Beginning inventory, 47,500 partially complete gallons, 20 percent complete with respect to conversion costs.
• Units started in July, 87,500 gallons.
Units transferred out in July, 97,500 gallons.
• Ending inventory, 37,500 gallons, 45 percent complete with respect to conversion costs.
Cost per equivalent unit
$ 63,500
42,500
$ 106,000
Required:
Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average m
Note: Round your answers to 2 decimal places.
Direct
Materials
$ 195,000
445,000
$ 640,000
Conversion
Costs](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F03e32cfb-8db2-4b0b-ac07-731fbb50541c%2F71b9dd35-8b4a-4783-bb97-5023800b133f%2F6dbisvl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following cost information is available for July for the Crest Plant at Calvert Company:
Beginning work-in-process inventory
Materials cost
Conversion cost
Total
●
Current costs
Materials cost
Conversion cost
Total
Materials are added at the beginning of the process. The following quantities have been recorded:
●
Beginning inventory, 47,500 partially complete gallons, 20 percent complete with respect to conversion costs.
• Units started in July, 87,500 gallons.
Units transferred out in July, 97,500 gallons.
• Ending inventory, 37,500 gallons, 45 percent complete with respect to conversion costs.
Cost per equivalent unit
$ 63,500
42,500
$ 106,000
Required:
Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average m
Note: Round your answers to 2 decimal places.
Direct
Materials
$ 195,000
445,000
$ 640,000
Conversion
Costs
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