Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. end-of-topic focus homework tf2-15 t2.3 (lo 2) pro

End-of-Topic Focus Homework TF2-15 T2.3 (LO 2) Processing costing: Cost flows Fill in the missing...

50.1K

Verified Solution

Question

Accounting

image
End-of-Topic Focus Homework TF2-15 T2.3 (LO 2) Processing costing: Cost flows Fill in the missing data (ignore indirect materials). Raw Materials Inventory WIP-Department 1 WIP-Department 2 Finished Goods Inventory Beginning balance a. $ 36,000 $ 13,000 $63,000 Materials purchased $250,000 Direct materials used b. 200,000 80,000 Conversion costs incurred 85,000 e. Transfers of completed units d. 300,000 f. g. Cost of goods sold $512,000 Ending balance $ 16,000 $ 8,000 $41,000 T2.4 (LO 3) Calculate equivalent units In February, Parsons, Inc. completed 15,000 units; 3,000 units still in process were 55% complete with respect to materials and conversion. Required a. How many equivalent units were in Parsons's ending Work in Process Inventory? b. How many equivalent units will be used to calculate the cost per equivalent unit? T2.5 (LO 3) Excel Calculate equivalent units Sury Company reported the following physical unit

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students