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anyanavicka [17]
3 years ago
6

In the month of June, a department had 20,000 units in Beginning Work-in-Process that were 70% complete. During June, 90,000 uni

ts were transferred into production from another department. At the end of June there were 10,000 units in Ending Work-in-Process that were 40% complete. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. Using the Weighted Average method, the equivalent units of production for materials in June were:
Business
1 answer:
BigorU [14]3 years ago
3 0

Answer:

110,000 units

Explanation:

<u>Calculation of the equivalent units of production for materials in June</u>

Beginning work in process                                              20,000

Units started and completed (90,000-10,000)               80,000  

Ending work in process                                                    <u>10,000</u>

Equivalent units of production for materials for June <u>110,000</u> units

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The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2021. The bonds mature o
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Answer:

I strongly believe that the requirement is to calculate the price of the bond.

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When boating at night, what does a single white light on a boat tell you?
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6 0
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Production data: Pounds in process, May 1; materials 100% complete; conversion 90% complete 88,000 Pounds started into productio
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Answer:

1. materials = 569,000 units , conversion = 556,000 units

2. materials = $1.15 , conversion = $0.70

3. materials = $44,850 , conversion = $18,200 , total = $63,050

Explanation:

For this question, i will assume that the <em>Weighted Average Cost Method</em> is used since we do not have information on the specific method applied by this company.

<u>Calculation of the equivalent units of production for materials and conversion</u>.

1. Materials

Closing Work in Process (65,000 × 60%)            =    39,000

Completed and Transferred to Finished Goods =  530,000

Equivalent units of production for materials       =   569,000

2. Conversion Costs

Closing Work in Process (65,000 × 40%)            =    26,000

Completed and Transferred to Finished Goods =  530,000

Equivalent units of production for materials       =   556,000

<u>Calculation of the cost per equivalent unit for materials and conversion</u>

Remember :

<em>Cost per equivalent unit = Total Costs ÷ Total Equivalent units</em>

<em>therefore,</em>

1. Materials

Cost per equivalent unit =  ($ 106,000 + $ 551,120) ÷ 569,000

                                        =  $1.15

2. Conversion Costs

Cost per equivalent unit =  ($ 59,700 + $ 328,230) ÷ 556,000

                                        =  $0.70

<u>Calculation of the cost of ending work in process inventory for materials, conversion, and in total</u>

Materials ($1.15 × 39,000)                             = $44,850

Conversion Costs ($0.70 × 26,000)             = $18,200

Total cost of ending work in process           = $63,050

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Answer:

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