All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is a.$3.45 b.S3.97 c.$3.20 d.S3.05

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question
The debits to Work in Process-Assembly Department for April, together with data concerning
production, are as follows:
April 1, work in process:
Materials cost, 3,000 units
S8,400
Conversion costs, 3,000 units, 80% completed
5,400
Materials added during April, 10,000 units
25,800
Conversion costs during April
34,300
Goods finished during April, 11,500 units
April 30 work in process, 1,500 units, 60% completed
All direct materials are placed in process at the beginning of the process and the average cost method
is used to cost inventories.
The conversion cost per equivalent unit (to the nearest cent) for April is
a.$3.45
b.$3.97
c.$3.20
d.$3.05
Transcribed Image Text:The debits to Work in Process-Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units S8,400 Conversion costs, 3,000 units, 80% completed 5,400 Materials added during April, 10,000 units 25,800 Conversion costs during April 34,300 Goods finished during April, 11,500 units April 30 work in process, 1,500 units, 60% completed All direct materials are placed in process at the beginning of the process and the average cost method is used to cost inventories. The conversion cost per equivalent unit (to the nearest cent) for April is a.$3.45 b.$3.97 c.$3.20 d.$3.05
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education