Overton Company has gathered the following information: Beginning WIP Units Started Units Completed and transferred out...

 

Transcribed Image Text:

Overton Company has gathered the following information: Beginning WIP Units Started Units Completed and transferred out Ending WIP Costs: WIP Costs Added during period 10 1 2 3 4 5 2. Complete the following using FIFO Method of Process Costing: 26 a. Complete Flow of units reconciliation 27 28 29 7 B Requirements: 1. Complete the following using Weighted Average Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs Units b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs 14,200 189,000 179,700 23,500 Materials 100% 100% Conversion 60% 45% Materials Conversion Total $ 23,540.00 $ 35,400.00 $ 58,940.00 $ 226,396.00 $ 297,581.25 $523,977.25 Overton Company has gathered the following information: Beginning WIP Units Started Units Completed and transferred out Ending WIP Costs: WIP Costs Added during period 10 1 2 3 4 5 2. Complete the following using FIFO Method of Process Costing: 26 a. Complete Flow of units reconciliation 27 28 29 7 B Requirements: 1. Complete the following using Weighted Average Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs Units b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs 14,200 189,000 179,700 23,500 Materials 100% 100% Conversion 60% 45% Materials Conversion Total $ 23,540.00 $ 35,400.00 $ 58,940.00 $ 226,396.00 $ 297,581.25 $523,977.25

Answer rating: 100% (QA)

Weighted Average Method a Flow of Units Reconciliation Beginning WIP 14200 units Units Started 18900... View the full answer