Information for Chaucer, Ltd. in July for the Prep Department, the first stage of the production cycle, is as follows:

Material costs are added at the beginning of the process. The ending work in process is two-thirds complete as to conversion costs. How would the total costs accounted for be distributed using the average cost method?

Transcribed Image Text:

Beginning work in process Costs added during July Total costs Goods completed Ending work in process Materials $8,100 23,400 $31,500 Conversion Costs $6,200 13,400 $19,600 60,000 units 15,000 units Beginning work in process Costs added during July Total costs Goods completed Ending work in process Materials $8,100 23,400 $31,500 Conversion Costs $6,200 13,400 $19,600 60,000 units 15,000 units

Answer rating: 100% (QA)

Equivalent units for material 60000 15000 75000 Equivalent ... View the full answer