Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company's first production process September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process.
Work in process inventory, September 1 (2,000 units, 100% complete with respect to direct materials, 80% complete with respect to direct labor and overhead; consists of $45,000 of direct materials cost, $56,320 conversion cost) $ 101,320
Costs incurred in September Direct materials $ 375,000
Conversion $ 341,000
Work in process inventory, September 30 (7,000 units, 100% complete with respect to direct materials, 40% complete with respect to conversion)
Required:
Compute each of the following, assuming Hi-Test uses the weighted-average method of process costing.(Round "Cost per EUP" to 2 decimal places.)
The number of physical units that were transferred out and the number that are in ending work in process inventory.
Units Reconciliation
Units to account for
Total units accounted for
Total units accounted for
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 11:10, nadinealonzo6121
Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.
Answers: 1
Business, 22.06.2019 11:40, avagracegirlp17zx2
On january 1, 2017, sophie's sunlounge owned 4 tanning beds valued at $20,000. during 2017, sophie's bought 3 new beds at a total cost of $14 comma 000, and at the end of the year the market value of all of sophie's beds was $24 comma 000. what was sophie's net investment
Answers: 3
Business, 22.06.2019 17:00, kiahbryant12
Zeta corporation is a manufacturer of sports caps, which require soft fabric. the standards for each cap allow 2.00 yards of soft fabric, at a cost of $2.00 per yard. during the month of january, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps. what is zeta corporation's materials price variance for the month of january?
Answers: 2
Do you know the correct answer?
Hi-Test Company uses the weighted-average method of process costing to assign production costs to it...
Questions in other subjects:
Mathematics, 26.03.2020 05:55
Mathematics, 26.03.2020 05:56
Mathematics, 26.03.2020 05:56
Health, 26.03.2020 05:56
