exercise 4-23 l Exam Current Highlighter Zoom in Zoom Out Zoom to Fit Hand ool S
ID: 2531960 • Letter: E
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exercise 4-23
l Exam Current Highlighter Zoom in Zoom Out Zoom to Fit Hand ool Start Reading Stop Hide Navigation Page Layout 2. Cost of the September 30 work-in-process inventory in the Weaving Department 3. Build a spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how the solution will change if the following data change: the costs incurred in September were $328,000 for direct material and $818,400 for conversion. Exercise 4-23 Analysis of Total Costs Weighted-Average (LO 4-5) The following data pertain to Tulsa Paperboard Company, a manufacturer of cardboard boxes. Work in process, February 1 10,000 units* Direct material Conversion s 5.500 17,000 Costs incurred during February Direct material Conversion ERES $110,000 171,600 °Complete as to direct materia, 40% complete as to conversion. The equivalent units of activity for February were as follows: Direct material (weighted-average method) 110,000 92,000 90,000 Conversion (weighted-average method Completed and transferred out Required: Compute the following amounts using weighted-average process costing. 1. Cost of goods completed and transferred out during February. 2. Cost of the February 28 work-in-process inventory Exercise 4-24 Operation Costing (LO 4-7) The November production of MVP's Minnesota Division consisted of batch P25 (2,000 professional basketballs) and batch S33 (4,000 scholastic basketballs). Each batch was started and finished during November, and there was no beginning or ending work in process. Costs incurred were as follows: Direct Material:Explanation / Answer
Equivalent unit of material (5500+110000)/110000 = 1.05 per unit
Equivalent unif of conversion = (17000+171600)/92000 = 2.05 per unit
1) Cost of goods completed and transferred out) = (1.05+2.05)*90000 = 279000
2) Cost of ending work in process = (20000*1.05+2000*2.05) = 25100
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