Question: How would your answers in problem 59 change if Rileys uses the weighted average method of process costing? Required A. How many reams of paper

How would your answers in problem 59 change if Rileyâ€™s uses the weighted average method of process costing?

Required
A. How many reams of paper were completed in March?
B. Of the reams of paper completed in March, how many were started and completed during the month?
C. How many equivalent finished units did the company complete in March?
D. What is the cost per equivalent unit?
E. Calculate the cost of the ending work in process inventory and the cost of goods manufactured inMarch.

Reams of Paper 35,000 93,000 20,000 Production Beginning work in process (40% complete) Current period production Ending work in process (65% complete) Costs $89,170 394,830

Step by Step Solution

★★★★★

3.34 Rating (187 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

A Step 1 The Physical Flow of Units Calculation of units completed Beginning units ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

420-B-M-A-J-O-C (1485).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Macadam Corp. uses the weighted average method of process costing. Its cost per equivalent unit for direct materials was $5.00 this period. It had 22,200 equivalent units for direct materials....

How would your answers in problem 57 change if Timmys uses the weighted average method of process costing? In Exercise Rileys paper company manufactures computer paper for laser printers. The...

How would your answers to Question 2 change if Australia pursued a contractionary monetary policy?

Scribners Corporation produces fine papers in three production departments - Pulping, Drying and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically...

Exercise 5-11 (Algo) Comprehensive Exercise; Second Production Department-Weighted Average Method [LO5-2, LO5-3, L05-4, L05-5] Scribners Corporation produces fine papers in three production...

Scribners Corporation produces fine papers in three production departmentsPulping, Drying, and Finishing. In the Pulping Department, raw materials such as wood fiber and rag cotton are mechanically...

Q1: Process costing Johnson LTD produces sensitive COVID-19 rapid antigen self-test kits (RAT), which involve two stages: preparation (the first department) and finishing (the second department). The...

1. The order in which the service centers and cost pools are allocated to the production departments will not affect the amounts of allocated costs each production department receives as the costs...

3 Problem 5-16 (Algo) Comprehensive Problem-Weighted Average Method (L05-2, LO5-3, LO5-4, LO5-5) 2.5 point Builder Products, incorporated, uses the weighted average method in its process costing...

2 25 pom Prime Scribners Corporation produces fine papers in three production departments-Pulping Drying and Finishing in the Pulping Department, raw materials such as wood fiber and rag cotton ore...

Multinational firms domiciled in the United States do not have to pay U.S. income taxes on foreign earnings, unless those earnings are returned to the United States. Accordingly, the U.S. income tax...

Any triangle can be represented by three vectors u, v, w. 1) Make a sketch of an example triangle with the tails of u and at the same point and w pointing from the head of 7 to the head of u. 2) Find...

2.110 The probability that a patient recovers from a delicate heart operation is 0.8. What is the probability that (a) exactly 2 of the next 3 patients who have this operation survive? (b) all of the...

All of the following can validate a mutilated certificate EXCEPT (A) the issuer (B) the broker-dealer (C) the registrar (D) the paying agent

Jersey Company owns a machine that can produce two specialized products. Production time for Product TLX is two units per hour and for Product MTV is five units per hour. The machine's capacity is...

Childress Company produces three products, K1, S5, and G9. Each product uses the same type of direct material. K1 uses 4 pounds of the material, S5 uses 3 pounds of the material, and G9 uses 6 pounds...

Ingraham Products manufactures and sells to wholesalers approximately 200,000 packages per year of underwater markers at $4 per package. Annual costs for the production and sale of this quantity are...

Calculate the intrinsic value of ABC Corp using a three - stage dividend model assuming: The current dividend - D 0 ) is $ 5 per share, EPS ( 0 ) is $ 2 5 and the current payout ratio is 2 0 % -...

Looking for excel formulas please. Masters Machine Shop is considering a four - year project to improve its production efficiency. Buying a new machine press for $ 7 9 6 , 8 0 0 is estimated to...

The following are the prices in the foreign exchange market between the U.S. dollar and a foreign currency (fc) Spot 0.6335 US\$/fc; three-month forwaro 0.6375S$/fc. What was the discount or premium...