connect. ACCOUNTING 12 Final Exam (Fall 2017) Quest value 370 points Harker Corp

Question

connect. ACCOUNTING 12 Final Exam (Fall 2017) Quest value 370 points Harker Corporation uses the weighted-average method in its process costing system. The first processing department the Welding Department, started the month with 25,000 units in its beginning work in process inventory that were 35% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory month and 90,000 units were completed in the Welding Department and transferred to that were 15% complete with respect to conversion ncurred in the department during the month was $44.950 An additional 95.000 units were started into production during the Department department There were 30000 unts in the ending work in process inventory of the welding costs. A total of $679,400 in conversion costs were The cost per equivalent unit for conversion costs for the month is closest to O $7853 O $7665 O $5661 O $7152

Explanation / Answer

Conversion cost per equivalent Units                      7.665 Statement of Equivalent production Particulars Conversion %completion Equivalent Conversion Opening WIP              25,000.00 100%                 25,000.00 Units started and completed=90000- 25000              65,000.00 100%                 65,000.00 ending WIP = 95000 - 65000              30,000.00 15%                    4,500.00 Equivalent Units                 94,500.00 Opening WIP Costs                 44,950.00 Current Month Costs               679,400.00 Total costs = 44950 + 679400               724,350.00 Cost per Equivalent units = 724350/94500                          7.665

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