McKnight Handcraft produces picture frames for large retailers. The process-costing system at McKnight has a single...

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McKnight Handcraft produces picture frames for large retailers. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect cost category (conversion costs). Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. McKnight uses the weighted-average method of process costing. A burst pipe in April caused the loss of some information, but they have been able to retrieve others. The retrieved information is listed below. On 1 April, the work-in- process was 20 percent complete as to conversion, while on 30 April, the work-in- process was 60 percent complete as to conversion. Work in process, 1 April (in units) Units started during April. Total units to account for. Units completed and transferred out during April Work in process, 30 April (in units) Total equivalent units: direct material. Total equivalent units: conversion. Work in process, 1 April: direct material Work in process, 1 April: conversion. Cost incurred during April: direct material Cost incurred during April: conversion Work in process, 1 April: total cost.... Total costs incurred during April Total costs to account for ........ Cost per equivalent unit: direct material. Cost per equivalent unit: conversion Total cost per equivalent unit..... Cost of goods completed and transferred out during April Cost remaining in ending work-in-process inventory: direct material Cost remaining in ending work-in-process inventory: conversion Total cost of 30 April work-in-process.. ? 60,000 75,000 ? 10,000 75,000 ? $135,000 $832,250 $172,500 $1,402,250 $1,574,750 $9.40 ? $21.65 ? ? $73,500 $167,500 McKnight Handcraft produces picture frames for large retailers. The process-costing system at McKnight has a single direct-cost category (direct materials) and a single indirect cost category (conversion costs). Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. McKnight uses the weighted-average method of process costing. A burst pipe in April caused the loss of some information, but they have been able to retrieve others. The retrieved information is listed below. On 1 April, the work-in- process was 20 percent complete as to conversion, while on 30 April, the work-in- process was 60 percent complete as to conversion. Work in process, 1 April (in units) Units started during April. Total units to account for. Units completed and transferred out during April Work in process, 30 April (in units) Total equivalent units: direct material. Total equivalent units: conversion. Work in process, 1 April: direct material Work in process, 1 April: conversion. Cost incurred during April: direct material Cost incurred during April: conversion Work in process, 1 April: total cost.... Total costs incurred during April Total costs to account for ........ Cost per equivalent unit: direct material. Cost per equivalent unit: conversion Total cost per equivalent unit..... Cost of goods completed and transferred out during April Cost remaining in ending work-in-process inventory: direct material Cost remaining in ending work-in-process inventory: conversion Total cost of 30 April work-in-process.. ? 60,000 75,000 ? 10,000 75,000 ? $135,000 $832,250 $172,500 $1,402,250 $1,574,750 $9.40 ? $21.65 ? ? $73,500 $167,500