__________________________________________________________________ Accounting ho

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Accounting homework help fast please.

Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conversion costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows. Work in Process, May 1 (50,000 units, 100% complete for direct materials, 40% complete with respect to conversion costs; includes $70,500 of direct material cost; $34,050 of conversion costs). Units started in May 225,000 Units completed in May 200,000 Work in Process, May 31 (75,000 units, 100% complete for direct materials; 20% complete for conversion costs). If Pitt Enterprises uses the FIFO method of process costing, compute the cost per equivalent unit for direct materials and conversion costs respectively for May. $1.52; $1.81. $1-50; $1.76. $1-83; $1.72. $1-71; $1.81. $3.30; $3.30. Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for overhead allocation is: Debit Factory Overhead $248,000; credit Cash $248,000. Debit Work in Process Inventory $160,000; credit Factory Payroll $160,000. Debit Work in Process Inventory $248,000; credit Factory Overhead $248,000. Debit Work in Process Inventory $160,000; credit Factory Overhead $160,000. Debit Work in Process Inventory $160,000; credit Cash $160,000.

Explanation / Answer

Answer is 1.52 , 1.81

Part 2

=160000*1.55=248000

Debit work in Progress 248000 and credit Factory Overhead 248000

Whole Units Direct Material Conversion openning Wip 50000 0 30000 units Started and Complted 150000 150000 150000 Closing WIP 75000 75000 15000 Equivalent units 225000 195000 Cost incured in May 342000 352950 cost Per eqivalent units 1.52 1.81

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