The following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October. Work in Process-Department 1 Beginning balance (2,000 units, 70% complete) Direct material Conversion costs Transferred to department 2 (20,000 units) Direct material (21,000 units) Direct labor Manufacturing overhead Ending balance [(b) units, 25% complete] Assuming that Crocker uses the weighted average method and that materials are added at the beginning of the process and conversion costs are incurred evenly throughout, solve for the three missing numbers. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Complete/Transferred Ending Inventory b. Total Beginning Inventory Current $38,750 33,600 (a) 393,750 508,200 169,050 (c) Crocker Company Department 1 Equivalent Units Calculations, October Total Costs to Account For Total Equivalent Inite 0 0 0 % Work done 0% 0% Equivalent Units Direct Materials Product Cost Report $ $ 0 0 0 % Work Conversion Done Costs 0% 0% Direct Materials 0 $ 0 0 $ 0 0 0 $ 0 0 $ 0 0 Conversion Costs 0 0 0 0

The following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October. Work in Process-Department 1 Beginning balance (2,000 units, 70% complete) Direct material Conversion costs Transferred to department 2 (20,000 units) Direct material (21,000 units) Direct labor Manufacturing overhead Ending balance [(b) units, 25% complete] Assuming that Crocker uses the weighted average method and that materials are added at the beginning of the process and conversion costs are incurred evenly throughout, solve for the three missing numbers. Round average cost per equivalent unit to four decimal places. Use rounded answers for subsequent calculations. Round other answers to the nearest whole number. Complete/Transferred Ending Inventory b. Total Beginning Inventory Current $38,750 33,600 (a) 393,750 508,200 169,050 (c) Crocker Company Department 1 Equivalent Units Calculations, October Total Costs to Account For Total Equivalent Inite 0 0 0 % Work done 0% 0% Equivalent Units Direct Materials Product Cost Report $ $ 0 0 0 % Work Conversion Done Costs 0% 0% Direct Materials 0 $ 0 0 $ 0 0 0 $ 0 0 $ 0 0 Conversion Costs 0 0 0 0

Name: Equivalent Units and Product Cost Report-weighted Average MethodThe f
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Description: Equivalent Units and Product Cost Report-weighted Average MethodThe following data (and annotations) are for the work in process account of the first of Crocker Company's four departments used in manufacturing its only product for October.Work in Pr

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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The following information is available for Department C for the month of August: Units Cost Work in process, August 1 (70% complete) 10,000 Direct materials $36,000 Direct labor 18,000 Manufacturing overhead 24,000 Total work in process, August 1 $78,000 Started in production during August 40,000 Costs added: Direct materials $108,000 Direct labor 48,000 Manufacturing overhead 61,040 Total costs added during August $217,040 Work in process, August 31 (80% complete) 4,000 Units completed and transferred out 42,000 Materials are added at the beginning of the process. Inspection takes place at the 50% point in the conversion process to determine spoiled units. (Round unit costs to two decimal places.) The company uses the weighted average cost flow assumption. Department C's equivalent units of production for conversion using the weighted average costing method are a. 50,000. b. 54,000. c. 44,800. d. 47,200.
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