Bb WileyPLUS 2016SP-1455 x Wiley PLUS G Case #1 Work in Process UH U d Lik Get S

Question

Bb WileyPLUS 2016SP-1455 x Wiley PLUS G Case #1 Work in Process UH U d Lik Get S C edugen.wileyplus.com main.uni Wiley PLUS Jiambalvo, Managerial Accounting, 5e System Announcements (2 Unread Assignment Open Assignment CALCULATOR PRINTER VERSION BACK NEXT Exercise 3-13 ASSIGNMENT RESOURCES At the start of November, Penco Refinery had Work in Process inventory consisting of 4,900 units that were 80 percent complete with respect to materials and 50 percent complete Homework #3 on Ch. 3 with respect to conversion costs. The cost of the units was $40,700 ($28,400 material cost and $12,300 of labor and overhead). During November, the company started 47,700 Exercise 3-4 units and incurred $416,300 of material cost and $392,600 of labor and overhead. The company completed 49,700 units during the month, and 2,900 units were in process at the 3-13 end of November. The units in ending Work in Process were 90 percent complete with respect to materials and 50 percent complete with respect to conversion costs Problem 3-1 Problem 3-9 Calculate the cost per equivalent unit for materials and conversion costs. (Round answers to 2 decimal places, e.g. 15.25.) Materials Conversion costs Review Results by Study object Cost per equivalent unit LINK TO TEXT LINK TO TEXT Calculate the cost of items completed during November. (Roundanswer to o decimal places, e.g. 125.) Cost of items completed during November LINK TO TEXT LINK TO TEXT Calculate the cost of ending Work in Process. (Round answer to 0 decimal places, e.g. 125.) Cost of ending Work in Process License Agreement l Privacy Policy I S 2000-2016 John Wiley & Sons Inc. All Rights Reserved. A Division of John Wiley Sons Inc Version 4

Explanation / Answer

Penco Refinery production details Units % Material Eq unit Material % Conversion Eq unit Conversion Nov 1 opening WIP                     4,900 80%                         3,920 50%              2,450 Units Started in Nov                   47,700 100%                      48,390            48,700 Total                   52,600                      52,310            51,150 Output   Goods Finished                   49,700 100%                      49,700 100%            49,700 Cloing WIP Nov 30                     2,900 90%                         2,610 50%              1,450 Total                   52,600                      52,310            51,150 Total cost a Materials Conversion cost Total Opening WIP                   28,400                 12,300                      40,700 Incurred in Nov                 416,300              392,600                    808,900 Total cost                 444,700              404,900                    849,600 Equivalent Units produced                   52,310                 51,150 Cost per Equivalent Unit $                   8.50 $                 7.92 b Cost of units transferred Materials Conversion Total Eq Units Transferred                   49,700                 49,700 Cost per Eq unit                        8.50                     7.92 Total cost $            422,512 $          393,422 $                815,934

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.