Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Work in process, July 1 Completed and transferred to next processing department during July Work in process, July 31 Drawing Department 500 units, 50% completed 11,400 units 700 units, 55% completed Winding Department 350 units, 30% completed 10,950 units 800 units, 25% completed Each department uses the average cost method. a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department. b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Winding Department.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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please read the first picture and answer questions on the second page. Thanks for your time

Exercise 20-25
Drawing Department
Transferred to Packing Department
Inventory in process, ending (55% completed)
Equivalent Units of Production
Winding Department
Transferred to Packing Department
Inventory in process, ending (25% completed)
Equivalent Units of Production
Transcribed Image Text:Exercise 20-25 Drawing Department Transferred to Packing Department Inventory in process, ending (55% completed) Equivalent Units of Production Winding Department Transferred to Packing Department Inventory in process, ending (25% completed) Equivalent Units of Production
Appendix
EX 20-25 Equivalent units of production: average cost method
Units of production data for the two departments of Atlantic Cable and Wire Company
for July of the current fiscal year are as follows:
Work in process, July 1
Completed and transferred to next
processing department during July
Work in process, July 31
Drawing Department
500 units, 50% completed
11,400 units
700 units, 55% completed
Winding Department
350 units, 30% completed
10,950 units
800 units, 25% completed
Each department uses the average cost method.
a. Determine the number of whole units to be accounted for and to be assigned costs
and the equivalent units of production for the Drawing Department.
b. Determine the number of whole units to be accounted for and to be assigned costs
and the equivalent units of production for the Winding Department.
Transcribed Image Text:Appendix EX 20-25 Equivalent units of production: average cost method Units of production data for the two departments of Atlantic Cable and Wire Company for July of the current fiscal year are as follows: Work in process, July 1 Completed and transferred to next processing department during July Work in process, July 31 Drawing Department 500 units, 50% completed 11,400 units 700 units, 55% completed Winding Department 350 units, 30% completed 10,950 units 800 units, 25% completed Each department uses the average cost method. a. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Drawing Department. b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for the Winding Department.
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