At the end of the month, Lakeshore Company calculated equivalent units of production for the second department of the production process as shown below. UNITS Equivalent Units Direct Materials Costs Units accounted for Equivalent Units Conversion Costs Completed and transferred out Ending work-in-process Equivalent Units Transferred In 15,800 1,100 16,900 OA. $17,193 and $311,307.5 OB. $16,637.5 and $294,670 OC. $94,057.5 and $315,185 O D. $131,503 and $300,060 15,800 880 16,680 15,800 The cost per equivalent unit using the weighted average method is $6.00 for material costs, $7.75 for conversion costs, and $4.90 for the units transferred in. What is the total cost of the units in ending work-in-process and the total cost of the units completed and transferred out? CO 770 16,570

At the end of the month, Lakeshore Company calculated equivalent units of production for the second department of the production process as shown below. UNITS Equivalent Units Direct Materials Costs Units accounted for Equivalent Units Conversion Costs Completed and transferred out Ending work-in-process Equivalent Units Transferred In 15,800 1,100 16,900 OA. $17,193 and $311,307.5 OB. $16,637.5 and $294,670 OC. $94,057.5 and $315,185 O D. $131,503 and $300,060 15,800 880 16,680 15,800 The cost per equivalent unit using the weighted average method is $6.00 for material costs, $7.75 for conversion costs, and $4.90 for the units transferred in. What is the total cost of the units in ending work-in-process and the total cost of the units completed and transferred out? CO 770 16,570

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Description: At the end of the month, Lakeshore Company calculated equivalent units of production for the second department of the production process as shown below:UNITSUnits accounted forEquivalent UnitsDirect Materials Costs15,800Completed and transferredoutE

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4PB: During March, the following costs were charged to the manufacturing department: $22,500 for...

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A production department within a company received materials of $10,000 and conversion costs of $10,000 from the prior department. It added material of $27,200 and conversion costs of $53,000. The equivalent units are 20,000 for material and 18,000 for conversion. What is the unit cost for materials and conversion?
During March, the following costs were charged to the manufacturing department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing overhead. The records show that 40,000 units were completed and transferred, while 10,000 remained in ending inventory. There were 45,000 equivalent units of material and 42,500 units of conversion costs. Using the weighted-average method, prepare the companys process cost summary for the month.
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