Please do not give solution in image format thanku Weighted Average Method, Equivalent UnitsGoforth Company produces a product where all manufacturing inputs are appliedUnits to account for:Units in BWIP (40% complete)Units startedTotal units to account forUnits accounted for:Units completed:From BWIPStarted and completedUnits, EWIP (75% complete)Total units accounted forRequired:180,000420,000600,000180,000324,000504,00096,000600,000Prepare a schedule of equivalent units using the weighted average method.Goforth CompanySchedule of equivalent units(Weighted Average Method) Units in BWIP (40% complete)Units startedTotal units to account forUnits accounted for:Units completed:From BWIPStarted and completedUnits, EWIP (75% complete)Total units accounted for180,000Units completedUnits in ending work in process x fraction complete:Equivalent units of output420,000600,000180,000324,000504,00096,000600,000Required:Prepare a schedule of equivalent units using the weighted average method.Goforth CompanySchedule of equivalent units(Weighted Average Method)U

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Description: Please do not give solution in image format thanku Weighted Average Method, Equivalent UnitsGoforth Company produces a product where all manufacturing inputs are appliedUnits to account for:Units in BWIP (40% complete)Units startedTotal units to acco

The equivalent units represents the percentage of the work completed for the units. The units are…

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Weighted Average Method, Equivalent Units Goforth Company produces a product where all manufacturing inputs are app Units to account for: Units in BWIP (40% complete) Units started Total units to account for 180,000 420,000 600.000

Weighted Average Method, Equivalent Units Goforth Company produces a product where all manufacturing inputs are app Units to account for: Units in BWIP (40% complete) Units started Total units to account for 180,000 420,000 600.000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 7PB: The following data show the units in beginning work in process inventory, the number of units...

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Homework i Elliott Company produces large quantities of a standardized product. The following information is available for the first process in its production activities for March. Units Costs Beginning work in process inventory Started 3,000 30,000 Beginning work in process inventory Direct materials $ 3,660 Ending work in process inventory 6,000 Conversion 10,368 Status of ending work in process inventory Direct materials added $ 14,028 194,670 184,620 258,468 Materials-Percent complete 100% Direct labor added Conversion-Percent complete 20% Overhead applied (140% of direct labor) Total costs to account for $651,786 Ending work in process inventory $ 55,356 Prepare a process cost summary report for this process using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.) X Answer is not complete. Total Costs to Account for: Costs of beginning work in process $ Costs incurred this period Total costs to account for: Total costs accounted for Difference due to rounding…
Information on equivalent production quantities and unit equivalent product costs of the production phase in a production company that applies the phase cost system are as follows: Production Completed and Transferred Equivalent Production Quantity: 30,000 Units Period End Stocks of Semi-finished Products Equivalent Production Quantity: Direct Primary Material and Material: 9.000 Units Equivalent Production Quantity: Direct Labor: 8,000 Units Equivalent Production Amount: General Production Expenses: 8.000 Units Unit equivalent product costs are 0.7 TL for direct raw materials and materials, 0.3 TL for direct labor and 0.5 TL for general production expenses. According to this information, what is the share of the total cost of the end-of-period semi-finished products? a) 2,400 TL B) 45.000 TL NS) 6.300 TL D) 12,700 TL TO) 4,000 TL
Elliott Company... (see pictures).
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For each of the following independent cases (A through E), compute the missing values in the table: Case A BCDE Prime Cost 6,840 11,610 Conversion Cost 11,570 7,930 20,560 Direct Materials $ 2,140 $ 2,300 1,440 3,500 Direct Labor Manufacturing Overhead 1,010 S 3.120 1,910 3,560 7,030 3,050 Total Manufacturing Cost 9,370 5,900
Subject: Accounting
For each of the following independent cases (A through E), compute the missing values in the table: Total Manufacturing Cost Case A B CDE Prime Cost 6,880 11,680 Conversion Cost 11,570 8,050 20,670 Direct Materials $ 2,040 2,200 1,450 3,490 $ Direct Manufacturing Labor Overhead 1,100 S 3,070 2,020 3,520 6,890 3,000 9,500 5,970
For each of the following independent cases (A through E), compute the missing values in the table: Total Manufacturing Cost Case AB с COE D Prime Cost 6,890 11,650 Conversion Cost 11,620 7,960 20,620 Direct Materials $ 2,110 $ 2,290 1,410 3,310 Direct Manufacturing Labor Overhead 1,160 $ 3,210 1,970 3,620 7,020 3,040 9,370 5,990
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The following data show the units in beginning work in process inventory, the number of units started, the number of units transferred, and the percent completion of the ending work in process for conversion. Given that materials are added 50% at the beginning of the process and 50% at the end of the process, what are the equivalent units for material and conversion costs for each quarter using the weighted-average method? Assume that the quarters are independent.