Satina Corporation's Department A has the following information: % Completed Costs Beginning work in process: 6,000 units Direct Materials 80 $ 43,708 Conversion 40 35,550 New Units...

60.1K

Verified Solution

Question

Accounting

Satina Corporation's Department A has the followinginformation:
% Completed
Costs
Beginning work in process: 6,000 units
Direct Materials
80
$
43,708
Conversion
40
35,550
New Units Started: 28,000 units
Direct Materials
112,000
Conversion
88,200
Ending work in process: 2,000 units
Direct Materials
60
Conversion
50
Required: Complete the tables below using theweighted-average and FIFO methods
Physical Units
Weighted Average Equivalent Units
FIFO Equivalent Units
Materials
Conversion
Materials
Conversion
Beginning WIP
Units started
Total to account for
Units Finished
Ending WIP
Total accounted for
Total Equivalent Units
Weighted Average
FIFO
a. Cost Per Equivalent units
b. Cost completed and transferred out
c. Cost in the ending work-in-processinventory

Answer & Explanation Solved by verified expert

4.2 Ratings (648 Votes)

Solution Weighted average Computation of Equivalent unit of Production Weighted Average Department A Particulars Physical Units Material Conversion Unit completed Transferred out 6000 28000 2000 32000 32000 32000 Closing WIP 2000 Material 60 1200 Conversion 50 1000 Equivalent units of production 34000 33200 33000 Computation of Cost per equivalent unit of Production Weighted Average Department A Particulars Material Conversion Opening WIP 4370800 3555000 Cost Added during period 11200000 8820000 Total cost See Answer

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

Transcribed Image Text

Satina Corporation's Department A has the followinginformation:% CompletedCostsBeginning work in process: 6,000 unitsDirect Materials80$43,708Conversion4035,550New Units Started: 28,000 unitsDirect Materials112,000Conversion88,200Ending work in process: 2,000 unitsDirect Materials60Conversion50Required: Complete the tables below using theweighted-average and FIFO methodsPhysical UnitsWeighted Average Equivalent UnitsFIFO Equivalent UnitsMaterialsConversionMaterialsConversionBeginning WIPUnits startedTotal to account forUnits FinishedEnding WIPTotal accounted for Total Equivalent UnitsWeighted AverageFIFOa. Cost Per Equivalent unitsb. Cost completed and transferred outc. Cost in the ending work-in-processinventory

	Physical Units	Weighted Average Equivalent Units		FIFO Equivalent Units
	Physical Units	Materials	Conversion	Materials	Conversion
Beginning WIP
Units started
*Total to account for*
Units Finished
Ending WIP
*Total accounted for*
Total Equivalent Units

	Weighted Average	FIFO
a. Cost Per Equivalent units
b. Cost completed and transferred out
c. Cost in the ending work-in-processinventory

	% Completed	Costs
Beginning work in process: 6,000 units
Direct Materials	80	$	43,708
Conversion	40		35,550
New Units Started: 28,000 units
Direct Materials			112,000
Conversion			88,200
Ending work in process: 2,000 units
Direct Materials	60
Conversion	50