Quiz #4 Help 4 Required i (The following information applies to the questions di

Question

Quiz #4 Help 4 Required i (The following information applies to the questions displayed below) Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 710,000 units of product to finished goods. At the end of November, the work in process inventory consists of 19S000 units that are 80% complete with respect to conversion. Beginning inventory had $531,765 of direct materials and $130,380 of conversion cost. The direct material cost added in November is $3,558,735, and the conversion cost added is $2,477,220 Beginning work in process consisted of 66,000 units that were 100% complete with respect to direct materials ar 80% complete with respect to conversion Oft e units completed, 66,000 were from beginning work in process and 644,000 units were started and completed during the period. Part 1 of 3 Print Required 1. Determine the equivalent units of production with respect to direct materials and conversiorn nits of Units | % Materials EUp. Materials % Conversion 3% work in process inventory - units work in process - units

Explanation / Answer

1) Equivalent unit of production

Calculate cost per equivalent unit :

3)

Units % materials EUP-material % Conversion EUP-conversion Units transferred out 710000 100% 710000 100% 710000 Ending work in process 199000 100% 199000 80% 159200 Total equivalent unit 909000 909000 869200

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

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