The following data is available for one department of Floral Inc., which uses weighted-average method of process costing: A) B) Determine the equivalent units of production for December, if the department started 205,000 units into the production during the month of December. C) Work-in-process, December 1 45,000 Work-in-process, December 31 22,500 Equivalent Units of Production Equivalent Units of Production Units Equivalent Units of Production Equivalent Units of Production Materials Conversion 271,375 259,675 Materials Conversion 244,375 237,625 Materials Conversion 221,875 260,125 Percentage completed Materials Conversion 60% 49% 75% 45% Materials Conversion 16,875 10,125

The following data is available for one department of Floral Inc., which uses weighted-average method of process costing: A) B) Determine the equivalent units of production for December, if the department started 205,000 units into the production during the month of December. C) Work-in-process, December 1 45,000 Work-in-process, December 31 22,500 Equivalent Units of Production Equivalent Units of Production Units Equivalent Units of Production Equivalent Units of Production Materials Conversion 271,375 259,675 Materials Conversion 244,375 237,625 Materials Conversion 221,875 260,125 Percentage completed Materials Conversion 60% 49% 75% 45% Materials Conversion 16,875 10,125

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Description: The following data is available for one department of Floral Inc., which uses weighted-average method of process costing The following data is available for one department of Floral Inc., which uses weighted-averagemethod of process costing:A)B)C)Wor

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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When using the weighted-average method of process costing, total equivalent units produced for a given period equal: Which of the followubg below is correct and why 1. The number of units started and completed during the period plus the number of units in beginning work in process plus the number of units in ending work in process. 2. The number of units in beginning work in process plus the number of units started during the period plus the number of units remaining in ending work in process times the percentage of work necessary to complete the items. 3. The number of units in beginning work in process times the percentage of work necessary to complete the items plus the number of units started and completed during the period plus the number of units started this period and remaining in ending work in process times the percentage of work necessary to complete the items. 4. The number of units transferred out during the period plus the number of units remaining in ending work in…
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A costing system where all product costs are recorded at standard cost while the products are being made is referred to as A.) standard costing B.) variable costing C.) normal costing D.) full costing
In a process cost system total costs are determined when the job is completed. costs are summarized in a job cost sheet. only one work in process account is used. the unit cost is total manufacturing costs for the period divided by the unts produced during the period.
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