Ling Company has two departments, Assembly and Finishing. Consider the following data for the Assembly Department: Beginning work in process Started during the month. Completed during the month Ending work in process Costs added during month Units 3,300 19,300 16,300 6,300 Direct Direct X Complete Material Labor Overhead 90% b. Calculate the cost per equivalent unit. Note: Round your answer to 4 decimal places. 60% $13,000 $8,050 $4,310 a. Compute the number of total equivalent units for the Assembly Department. Ling uses the weighted average method to determine equivalent units. a. Equivalent units b. Cost per equivalent unit c. Costs transferred out d. Ending inventory cost c. Compute the amount of costs that should be transferred to the Finishing Department. Note: Round your answer to the nearest cent. d. Compute the amount of costs that should be assigned to the 6,300 units in ending inventory. Note: Round your answer to the nearest cent. Total $2,735 per unit $25,360

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ling Company has two departments, Assembly and Finishing. Consider the following data for the Assembly Department
Beginning work in process
Started during the month
Completed during the month
Ending work in process
Costs added during month
Units
3,300
19,300
16,300
6,300
Direct
Direct
% Complete Material Labor Overhead
90%
b. Calculate the cost per equivalent unit.
Note: Round your answer to 4 decimal places.
60%
a. Equivalent units
b. Cost per equivalent unit
c. Costs transferred out
d. Ending inventory cost
$13,000 $8,050 $4,310
a. Compute the number of total equivalent units for the Assembly Department. Ling uses the weighted average method to determine
equivalent units.
c. Compute the amount of costs that should be transferred to the Finishing Department.
Note: Round your answer to the nearest cent.
d. Compute the amount of costs that should be assigned to the 6,300 units in ending inventory.
Note: Round your answer to the nearest cent.
per unit
Total
$2,735
$25,360
Transcribed Image Text:Ling Company has two departments, Assembly and Finishing. Consider the following data for the Assembly Department Beginning work in process Started during the month Completed during the month Ending work in process Costs added during month Units 3,300 19,300 16,300 6,300 Direct Direct % Complete Material Labor Overhead 90% b. Calculate the cost per equivalent unit. Note: Round your answer to 4 decimal places. 60% a. Equivalent units b. Cost per equivalent unit c. Costs transferred out d. Ending inventory cost $13,000 $8,050 $4,310 a. Compute the number of total equivalent units for the Assembly Department. Ling uses the weighted average method to determine equivalent units. c. Compute the amount of costs that should be transferred to the Finishing Department. Note: Round your answer to the nearest cent. d. Compute the amount of costs that should be assigned to the 6,300 units in ending inventory. Note: Round your answer to the nearest cent. per unit Total $2,735 $25,360
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