The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (44,000 units): Percentage complete with respect to Costs Ending work in process (60,000 units): Percentage complete with respect to Costs Materials. Required: 100% $ 92,600 ?? 100% Conversion 20% $ 27,636 ?? 60% The Remington Plant started 234,000 units and transferred out 218,000 in July. Materials costs incurred in July were $774,000 and conversion costs were $1,159,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are
added at the beginning of the process):
Beginning work in process (44,000 units):
Percentage complete with respect to
Costs
Ending work in process (60,000 units):
Percentage complete with respect to
Costs
Cost per equivalent unit
Materials
Direct Materials
100%
$ 92,600
Conversion
??
100%
Conversion
20%
$ 27,636
The Remington Plant started 234,000 units and transferred out 218,000 in July. Materials costs incurred in July were $774,000 and
conversion costs were $1,159,000.
??
Required:
Compute the cost per equivalent unit for materials and conversion costs using the weighted-average method.
Note: Round your answers to 2 decimal places.
60%
Transcribed Image Text:The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): Beginning work in process (44,000 units): Percentage complete with respect to Costs Ending work in process (60,000 units): Percentage complete with respect to Costs Cost per equivalent unit Materials Direct Materials 100% $ 92,600 Conversion ?? 100% Conversion 20% $ 27,636 The Remington Plant started 234,000 units and transferred out 218,000 in July. Materials costs incurred in July were $774,000 and conversion costs were $1,159,000. ?? Required: Compute the cost per equivalent unit for materials and conversion costs using the weighted-average method. Note: Round your answers to 2 decimal places. 60%
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