For the data given in the table calculate Cost of goods completed and Cost of WIP...
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For the data given in the table calculate Cost of goods completed and Cost of WIP (end) by using a) Weighted average method b) FIFO method WIP (beginning) Completion% Started During Completed During WIP (end) Completion % Costs added during Units 12,500 50,000 42,500 20,000 Direct Material $75,000 90% 20% 1,000 $350,000 Conversion $87,500 70% 50% $463,750 For the data given in the table calculate Cost of goods completed and Cost of WIP (end) by using a) Weighted average method b) FIFO method WIP (beginning) Completion% Started During Completed During WIP (end) Completion % Costs added during Units 12,500 50,000 42,500 20,000 Direct Material $75,000 90% 20% 1,000 $350,000 Conversion $87,500 70% 50% $463,750
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Equivalent Units Calculation Direct Material a WIP beginning Units 12500 Completion 90 Equivalent units for direct material in beginning WIP 12500 90 11250 b Units started during the period 50000 Comp... View the full answer
Related Book For
Management Accounting
ISBN: 9781760421144
7th Edition
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
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