Exercise 4-9 Cost Assignment; Cost Reconciliation-Weighted-Average Method [LO2,
ID: 2477953 • Letter: E
Question
Exercise 4-9 Cost Assignment; Cost Reconciliation-Weighted-Average Method [LO2, LO4, LO5]
Kenton Industrial Corporation uses the weighted-average method in its process costing system. During April, the Baker Assembly Department completed its processing of 25,800 units and transferred them to the next department. The cost of beginning inventory and the costs added during April amounted to $696,860 in total. The ending inventory in April consisted of 2,800 units, which were 80% complete with respect to materials and 60% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows:
Prepare a cost reconciliation for April. (Note: You will not be able to break the cost to be accounted for into the cost of beginning inventory and costs added during the month.)
Lindex Company uses a process costing system. The following data are available for one department for October:
Percent Completed
The department started 390,000 units into production during the month and transferred 410,000 completed units to the next department.
Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.
Kenton Industrial Corporation uses the weighted-average method in its process costing system. During April, the Baker Assembly Department completed its processing of 25,800 units and transferred them to the next department. The cost of beginning inventory and the costs added during April amounted to $696,860 in total. The ending inventory in April consisted of 2,800 units, which were 80% complete with respect to materials and 60% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows:
Explanation / Answer
Answer: 1
Weighted- Average method:
Computation of equivalent units in the ending inventory:
Answer:2
Answer:3
Answer:4
Material Labour Overhead Units in the ending inventory 2800 2800 2800 Percent completed 80% 60% 60% Equivalent units of production 2240 1680 1680Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.