Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 92,000 units, 80% complete as to materials and 25% complete as to conversion. Units started and completed: 274,000. Units completed and transferred out: 366,000. Ending Inventory: 36,000 units, 30% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $49,200. Costs in beginning Work in Process - Conversion: $91,700. Costs incurred in October - Direct Materials: $744,600. Costs incurred in October - Conversion: $931,300. Calculate the cost per equivalent unit of materials.

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 92,000 units, 80% complete as to materials and 25% complete as to conversion. Units started and completed: 274,000. Units completed and transferred out: 366,000. Ending Inventory: 36,000 units, 30% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $49,200. Costs in beginning Work in Process - Conversion: $91,700. Costs incurred in October - Direct Materials: $744,600. Costs incurred in October - Conversion: $931,300. Calculate the cost per equivalent unit of materials.

Name: Richards Corporation uses the weighted-average method of process cost
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Description: Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department:Units:Beginning Inventory: 92,000 units, 80% complete as to materials and 25% complete as to c

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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