Metlock is a producer of perfume, sourcing materials from all over the world as it creates...
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Metlock is a producer of perfume, sourcing materials from all over the world as it creates beautiful scents. In November, Metlock was producing perfume that would be bottled into 1.2 ounce sizes. The manufacturing department reports the following information related to production of liquid perfume this month. Step 2: Determine physical status of units and convert into equivalent units Equivalent Units DM Conversion Costs Physical Units % Added Equiv. Units % Added Equiv. Units Units completed this period 420 100% 420 100% 420 Units in ending WIP Inventory 30 100% 30 40% 12 Total units accounted for 450 Total equivalent units of work done 450 432 Step 3: Account for costs Total Costs DM Conversion Costs Costs in beginning WIP Inventory (from last period) $2,185 $1,490 $695 Costs added to WIP Inventory this period 10,883 6,610 4,273 Total costs to account for $13,068 $8,100 $4,968 Metlock uses the weighted-average method of process costing. What is Metlock's total cost of units completed? Total cost of units completed $ How many total units did the company complete this period? Total number of units completed What was its actual cost per unit for those units completed? (Round answer to 2 decimal places, e.g. 15.25.) Actual unit cost for units completed $ What is the total cost per equivalent unit? (Round answer to 2 decimal places, e.g. 15.25.) Total cost per equivalent unit this period $ Is the actual cost per unit the same as the total cost per equivalent unit? eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Recognizing that Metlock's products must still move through the bottling department before being ready for sale, record the journal entry to recognize the completion and removal of units from the manufacturing department. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit (e) To reach its target profit, Metlock's total budgeted product cost is $36.00 per unit. Therefore, what is the maximum additional cost per unit the company can incur in the bottling department? (Round answer to 2 decimal places, e.g. 15.25.) Maximum additional cost per unit for bottling $ Metlock is a producer of perfume, sourcing materials from all over the world as it creates beautiful scents. In November, Metlock was producing perfume that would be bottled into 1.2 ounce sizes. The manufacturing department reports the following information related to production of liquid perfume this month. Step 2: Determine physical status of units and convert into equivalent units Equivalent Units DM Conversion Costs Physical Units % Added Equiv. Units % Added Equiv. Units Units completed this period 420 100% 420 100% 420 Units in ending WIP Inventory 30 100% 30 40% 12 Total units accounted for 450 Total equivalent units of work done 450 432 Step 3: Account for costs Total Costs DM Conversion Costs Costs in beginning WIP Inventory (from last period) $2,185 $1,490 $695 Costs added to WIP Inventory this period 10,883 6,610 4,273 Total costs to account for $13,068 $8,100 $4,968 Metlock uses the weighted-average method of process costing. What is Metlock's total cost of units completed? Total cost of units completed $ How many total units did the company complete this period? Total number of units completed What was its actual cost per unit for those units completed? (Round answer to 2 decimal places, e.g. 15.25.) Actual unit cost for units completed $ What is the total cost per equivalent unit? (Round answer to 2 decimal places, e.g. 15.25.) Total cost per equivalent unit this period $ Is the actual cost per unit the same as the total cost per equivalent unit? eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Recognizing that Metlock's products must still move through the bottling department before being ready for sale, record the journal entry to recognize the completion and removal of units from the manufacturing department. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit (e) To reach its target profit, Metlock's total budgeted product cost is $36.00 per unit. Therefore, what is the maximum additional cost per unit the company can incur in the bottling department? (Round answer to 2 decimal places, e.g. 15.25.) Maximum additional cost per unit for bottling $
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Related Book For
Managerial Accounting An Integrative Approach
ISBN: 9780999500491
2nd Edition
Authors: C J Mcnair Connoly, Kenneth Merchant
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