Question: Hanes had a product that passes through two processes: knitting and finishing. Direct materials were added uniformly in the second process. Units were measured the

Hanes had a product that passes through two processes: knitting and

Hanes had a product that passes through two processes: knitting and finishing. Direct materials were added uniformly in the second process. Units were measured the same way in both departments. The second department (finishing) had the following physical flow schedule for the month: Costs in beginning work in process for the finishing department were: Using the Methecess costing method, answer the following questions for the month: (30 points) How many equivalent units should Hanes use to calculate direct materials cost? (5 pts, How many equivalent units should Hanes use to calculate conversion cost? (5 pts) How many equivalent units should Hanes use to calculate transferred-in cost? (5 pts) What is the direct materials cost per unit? (5 pts) What is the conversion cost per unit? ( 5 pts) What is the transferred-in cost per unit? (5 pts) Hanes had a product that passes through two processes: knitting and finishing. Direct materials were added uniformly in the second process. Units were measured the same way in both departments. The second department (finishing) had the following physical flow schedule for the month: Costs in beginning work in process for the finishing department were: Using the Methecess costing method, answer the following questions for the month: (30 points) How many equivalent units should Hanes use to calculate direct materials cost? (5 pts, How many equivalent units should Hanes use to calculate conversion cost? (5 pts) How many equivalent units should Hanes use to calculate transferred-in cost? (5 pts) What is the direct materials cost per unit? (5 pts) What is the conversion cost per unit? ( 5 pts) What is the transferred-in cost per unit? (5 pts)

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