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Category > Accounting Posted 22 Dec 2017 My Price 10.00

Hi-Test Company uses the weighted-average method

Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for September follows. Assume that all materials are added at the beginning of its production process, and that conversion costs are added uniformly throughout the process.
       
  Work in process inventory, September 1 (2,000 units, 100% complete with respect to
      direct materials, 80% complete with respect to direct labor and overhead; includes
      $45,000 of direct material cost, $25,600 in direct labor cost, $30,720 overhead cost)		 $ 101,320  
  Units started in April   28,000  
  Units completed and transferred to finished goods inventory   23,000  
  Work in process inventory, September 30 (? units, 100% complete with respect to       direct materials, 40% complete with respect to direct labor and overhead)   ?  
 
  Costs incurred in September    
      Direct materials $ 375,000  

      Conversion

 

1. The number of physical units that were transferred out and the number that are in ending work in process inventory.

2 & 3 .

The number of equivalent units for materials and conversion for the month.

4&5 .

The cost per equivalent unit of materials and conversion for the month.

6.

The total cost of goods transferred out.


&7.

The total cost of ending work in process inventory.

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CourseLover
(12)
Status NEW Posted 22 Dec 2017 03:12 PM My Price 10.00

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