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Contact [7]
3 years ago
9

Nonuniform Inputs, Equivalent Units Terry Linens Inc. manufactures bed and bath linens. The bath linens department sews terry cl

oth into towels of various sizes. Terry uses the weighted average method. All materials are added at the beginning of the process. The following data are for the bath linens department for
August:

Production:

Units in process, August 1, 25% complete* 10,000

Units completed and transferred out 60,000

Units in process, August 31, 60% complete* 20,000

* With respect to conversion costs.

Required: Calculate equivalent units of production for the bath linens department for August.

Materials= equivalent units of production

Conversion= equivalent units of production

please don't skip steps,show all work
Business
1 answer:
anyanavicka [17]3 years ago
4 0

Answer:

For Material 80,000

For Conversion 72,000

Explanation:

The computation of equivalent units of production for the bath linens department for August is shown below:-

                                     <u>Materials</u>               <u>Conversion</u>  

Units completed and

transferred out              60,000                   60,000

Units in process,

August 31                      20,000                   12,000

                                                               (20,000 × 60%)

Equivalent units of

production                   80,000                   72,000

Therefore to reach out the equivalent units of production we simply added the units completed and transferred out with Units in process Aug 31 of material and conversion.

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4 0
3 years ago
Chancellor Ltd. sells an asset with a $2.4 million fair value to Sophie Inc. Sophie agrees to make seven equal payments, each to
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Assume that Crane Company uses a periodic inventory system and has these account balances: Purchases $630,000; Purchase Returns
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Answer:

Cost of goods sold =$61,5300

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=> Gross Profit = Net sales - Cost of goods sold

= $760,000 - $61,5300

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Hope it will find you well.

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