The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for May 2020: (Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units first, then calculate the equivalent units. Flow of Production Work in process beginning Started during current period To account for Completed and transferred out during current period Work in process, ending Accounted for Equivalent units of work done to date Physical Units Data table Beginning work in process (May 1)a Started in May 2020 Completed during May 2020 Ending work in process (May 31) Total costs added during May 2020 Physical Units (Watches) 100 510 450 160 Direct Conversion Materials Costs $142,570 $459,888 $3,237,000 aDegree of completion: direct materials, 80%; conversion costs, 35%. bDegree of completion: direct materials, 80%; conversion costs, 40%. $1,916,000

The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for May 2020: (Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units first, then calculate the equivalent units. Flow of Production Work in process beginning Started during current period To account for Completed and transferred out during current period Work in process, ending Accounted for Equivalent units of work done to date Physical Units Data table Beginning work in process (May 1)a Started in May 2020 Completed during May 2020 Ending work in process (May 31) Total costs added during May 2020 Physical Units (Watches) 100 510 450 160 Direct Conversion Materials Costs $142,570 $459,888 $3,237,000 aDegree of completion: direct materials, 80%; conversion costs, 35%. bDegree of completion: direct materials, 80%; conversion costs, 40%. $1,916,000

Name: The assembly division of Quality Time Pieces, Inc. uses the weighted-
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Description: The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for May 2020:(Click the icon to view the data.)RequirementCompute equivalent units for direct materials and conversio

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 11E: The charges to Work in ProcessAssembly Department for a period, together with information concerning...

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