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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:For each of the following independent cases, determine the units or equivalent units requested (assuming weighted-average costing).
Required:
a. Beginning inventory consisted of 64,000 units with a direct materials cost of $113,600. The equivalent work represented by all
direct materials costs in the WIP Inventory account amounted to 288,000 units. Ending inventory had 32,000 units that were 60
percent complete with respect to materials. The ending inventory had an $30,720 direct materials cost assigned. What was the total
materials cost incurred this period?
b. Beginning inventory had 36,900 units, 90 percent complete with respect to conversion costs. During the period, 31,500 units were
started. Ending inventory was 45 percent complete with respect to conversion costs and was assigned $13,230 in conversion costs.
The conversion cost per equivalent unit was $1.47. How many units were transferred out?
c. During the period, 105,000 units were transferred into the department. The 160,000 units transferred out were charged to the next
department at an amount that included $216,000 for direct materials costs. The ending inventory was 80 percent complete with
respect to direct materials and had a direct materials cost of $40,500 assigned to it. How many physical units are in the ending
inventory?
d. The WIP Inventory account had a beginning balance of $28,500 for conversion costs on items in process and, during the period,
$271,500 in conversion costs were charged to it. Also during the period, $288,000 in conversion costs were transferred out. There
were 12,000 units in the beginning inventory, and 144,000 units were transferred out during the period. The units in ending work-in-
process inventory are 40 percent complete with respect to conversion costs. How many units were started this period?
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