Business, 08.03.2021 19:30, msmaporter
Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department:
Units:
Beginning Inventory: 94,000 units, 80% complete as to materials and 25% complete as to conversion.
Units started and completed: 278,000.
Units completed and transferred out: 372,000.
Ending Inventory: 37,000 units, 40% complete as to materials and 15% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $47,200.
Costs in beginning Work in Process - Conversion: $89,700.
Costs incurred in October - Direct Materials: $759,920.
Costs incurred in October - Conversion: $929,300.
Required:
Calculate the cost per equivalent unit of materials.
Answers: 3
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Richards Corporation uses the weighted-average method of process costing. The following information...
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