Question: i need UNIT COST for each watch, please show all the steps to arrive at unit cost 17-24 Weighted-average method, equivalent units. The assembly division
i need UNIT COST for each watch, please show all the steps to arrive at unit cost
17-24 Weighted-average method, equivalent units. The assembly division of Quality Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for the month of May 2017: Physical Units (Watches) Direct Materials $ 459,888 Conversion Costs $ 142,570 100 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 510 450 160 $3,237,000 $1,916,000 a Degree of completion: direct materials, 80%; conversion costs, 35%. Degree of completion direct materials, 80%; conversion costs, 40%. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. 17-25 Weighted average method, assigning costs (continuation of 17-24). For the data in Exercise 17-24, summarize the total costs to account for, calculate the cost per equivalent unit for direct materials and conversion costs, and assign costs to the units completed (and transferred out) and units in ending work in process
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
