Walton Company had 400 units of product in work in process inventory at the beginning of the period. It started 1,200 units during the period and transferred 1,000 units to finished goods inventory. The ending work in process inventory was estimated to be 60 percent complete. Cost data for the period follow: Beginning balance Added during period Total Product Costs $ 27,520 56,800 $ 84,320 Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. c. Calculate the total cost allocated between ending work in process inventory and finished goods inventory.

Walton Company had 400 units of product in work in process inventory at the beginning of the period. It started 1,200 units during the period and transferred 1,000 units to finished goods inventory. The ending work in process inventory was estimated to be 60 percent complete. Cost data for the period follow: Beginning balance Added during period Total Product Costs $ 27,520 56,800 $ 84,320 Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. c. Calculate the total cost allocated between ending work in process inventory and finished goods inventory.

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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