Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for a company which is computing costs based on th

For a Company which is computing costs based on the process cost system solve this...

90.2K

Verified Solution

Question

Accounting

For a Company which is computing costs based on the process cost system solve this question. Consider that adds materials are added at the beginning of the process and conversion costs are estimated uniformly throughout the process. on April 1 Work in process (WIP) was 75% complete and was 50% complete On April 30st. Use the weighted-average method of process costing. Complete the Production Cost Report for April. Please explain all the calculations in details

image

Physical Units Equivalent Units Materials Conversion Costs QUANTITIES Units to be accounted for Work in process, Jun 1 Started into production Total units 10,000 20,000 30,000 Units accounted for Transferred out Work in process, Jun 30 Total units 25,000 5,000 30,000 COSTS Unit costs Costs in June Equivalent units Unit costs Materials $150,000 Conversion Costs $110,000 Total $260,000 $ $ $ Costs to be accounted for Work in process, Jun 1 Started into production Total costs $ 80,000 180,000 $260,000 $ Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, Jun 30 Materials Conversion costs Total costs $ $260,000

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

Medical Sciences
1.2K views

I have to write about dopamine - I should talk about its synthesis- (physiologic mechanisms and drugs...

Civil Engineering
1.2K views

How to assemble an Acceleration Response Spectra according to design code ASCE-7

Biology
1.2K views

ing to Darwin which of the following had the MOST impact in driving the evolution...

Biology
1.2K views

Which of the following tests is not required as part of the donor processing procedure...

Physics
1.2K views

Two submarines are underwater and traveling directly away from each other. Sub 1 has a...

Basic Math
1.2K views

4 Workout Plus offers a membership for $30 each month plus a $100 startup fee....

Statistics
1.2K views

100 Points A 2021 study by UCI researchers examined the health outcomes of a very...

Statistics
1.2K views

The time in number of days until maturity of a certain variety of tomato plant...

Accounting
1.2K views

The uncertainty of prices on various markets has increased as a result of the spread...

Accounting
1.2K views

On October 1,2021, Santana Rey launched a computer services company called Business Solutions, which provides...

Accounting
1.2K views

Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power...

Finance
1.2K views

7a) Explain the differences between exchange trading and over-the-counter (OTC) trading. (7 marks)