The Salmon Processing Company had work in process at the beginning and end of March...

70.2K

Verified Solution

Question

Accounting

image

The Salmon Processing Company had work in process at the beginning and end of March 2020 in its Painting Department as follows: (Click the icon to view the work-in-process information.) The company completed 40,000 units curing March. Manufacturing coets incurred during March were direct materials costs of $500,000 and conversion costs of $500,000. Inventory at March 1 was carried at a cost of $10.000 (direct materials, $30,000 and conversion coets, $10,000). Assuming Salmon uses wnighind-average casting, netermine the equivalent units of work done in March, and calculate the cost of units completed and the cost of units in coning inventory armin VITVI VIVI Flow of Production Units Materials Costs Work in process beginning Started during current period To account for Completed and transferred out during ourrent period Work in process, ending Accounted for Data Table Equivalent units of work done to date Next, summarize the total costs 10 account for. Total Direct Conversion Production Costs Percentage of Completion Direct Materials Conversion Costs 55% 20% 80% 30 % Materials Costs March 1 (3,400 unit) March 31 (75,000 units) Total costs to nocount for Print Done Now calculate cost per equivalent unit for direct materials and conversioni coets. Round your answer to the nearest cant) Direct Conversion Materials Costs DMda by Coat per equivalent un Finally, assign total crats in units completed and transformed out) and in units in ending work in process. Total Direct Conversion Production Costs Materials Costs Completed and transferred out Work in process, ending Total voels accurled for

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