Annin Laboratories uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for February:Beginning WIP inventory Direct materials$ 26,553Conversion costs8,605Current period costs Direct materials159,792Conversion costs82,020Quantity information is obtained from the manufacturing records and includes the following:Beginning inventory6,000units(40% complete as to materials, 15% complete as to conversion)Current period units started45,200units Ending inventory23,000units(75% complete as to materials, 35% complete as to conversion) Required:Compute the equivalent units for the materials and conversion cost calculations.Compute the cost per equivalent unit for direct materials and conversion costs.

The beginning work in the process is 40% completed as to material, so the remaining 60% of material…

Answered: Annin Laboratories uses the…

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

Beginning inventory	6,000	units	(40% complete as to materials, 15% complete as to conversion)
Current period units started	45,200	units
Ending inventory	23,000	units	(75% complete as to materials, 35% complete as to conversion)

Compute the equivalent units for the materials and conversion cost calculations.
Compute the cost per equivalent unit for direct materials and conversion costs.

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