Gannett Handcraft is a manufacturer of picture frames for large retailers. Every

Question

Gannett Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two? departments: the assembly department and the finishing department. This problem focuses on the assembly department. The? process-costing system at Gannett has a single? direct-cost category? (direct materials) and a single? indirect-cost category? (conversion costs). Direct materials are added when the assembly department process is? 10% complete. Conversion costs are added evenly during the assembly? department's process. Gannett uses the? weighted-average method of process costing.

Consider the following data for the assembly department in April 2017?:

1.

2017 and assign them to units completed? (and transferred? out) and to units in ending work in process.

Begin by calculating the physical units and equivalent units.

Summarize total costs to account for.

Next calculate cost per equivalent unit for direct materials and conversion costs.

Finally assign total costs to units completed (and transferred out) and to units in ending work in process

Please show work and calculations.

Physical units (frames) Direct Materials Conversion costs work in process April 1 a 95 1665 988 started during April 2017 490 completed during April 2017 455 Work in process April 30b 130 Total costs added during April 2017 17,640 11,856 a. degree of completion: direct materials 100%; conversion costs 40% b. degree of completion: direct materials 100%; conversion costs, 30%

Explanation / Answer

Equivalent unit :

Calculate cost per equivalent unit :

Cost assigned :

Whole unit % EUP-material % EUP-conversion Unit completed and transferred out 455 100% 455 100% 455 Ending work in process 130 100% 130 30% 39 Total equivalent unit 585 585 494

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