The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost O Conversion cost Total Current costs Materials cost Conversion cost Total $ 56,560 35,754. $ 92,314 $ 125,240 376,326 $ 501,566 Materials are added at the beginning of the process. The following quantities have been recorded: . Beginning inventory, 40,400 partially complete gallons, 25 percent complete with respect to conversion costs. • Units started in July, 80,800 gallons. . Units transferred out in July, 90,900 gallons. Ending inventory, 30,300 gallons, 40 percent complete with respect to conversion costs. Cost of goods transferred out total Ending inventory total Required: Compute the cost of goods transferred out and the ending inventory for July using the weighted-average method. Note: Do not round your intermediate calculations.
The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost O Conversion cost Total Current costs Materials cost Conversion cost Total $ 56,560 35,754. $ 92,314 $ 125,240 376,326 $ 501,566 Materials are added at the beginning of the process. The following quantities have been recorded: . Beginning inventory, 40,400 partially complete gallons, 25 percent complete with respect to conversion costs. • Units started in July, 80,800 gallons. . Units transferred out in July, 90,900 gallons. Ending inventory, 30,300 gallons, 40 percent complete with respect to conversion costs. Cost of goods transferred out total Ending inventory total Required: Compute the cost of goods transferred out and the ending inventory for July using the weighted-average method. Note: Do not round your intermediate calculations.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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Step 1: Introducing Equivalent Units Production
VIEWStep 2: Working for Calculation of equivalent units- Weighted average method
VIEWStep 3: Working for Computation of Cost Per Equivalent Units
VIEWStep 4: Working for Computation of Cost of goods transferred out
VIEWStep 5: Working for Computation of Cost of ending inventory
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