Concept explainers
Computation of equivalent units for each element of cost, cost per equivalent unit and total cost of ending inventory and completed units describe the steps taken for computation of total units completed and equivalents units of each element of cost. The total cost of ending work in process and completed and transferred out shall be determined based on equivalent units and cost per equivalent units. The total units completed are computed by considering the total units in process and ending work in process units.
Requirement1:
The equivalent number units of each element of cost shall be determined.
Requirement2:
The cost per equivalent unit for each element of cost shall be determined.
Requirement3:
The cost of ending work in process inventory in respect to material, conversion and total shall be determined.
Requirement4:
The cost of goods completed and transferred out shall be determined.

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Chapter 4 Solutions
MANAGERIAL ACCOUNTING-W/ACCESS >C<
- Regency Distributors wants an ending inventory each month equal to 20% of that month's cost of sales. Cost of sales for April is projected at $150,000. Ending inventory at the end of March was $25,000. Based on this information, purchases for April will be: a. $125,000 b. $130,000 c. $145,000 d. $155,000arrow_forwardHow much must it charge per unit if 4,000 units are sold?arrow_forwardPlease explain the solution to this general accounting problem with accurate explanations.arrow_forward
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