Consider the following data for November 2017 from Gray Manufacturing Company, which makes silk pennants and...
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Consider the following data for November 2017 from Gray Manufacturing Company, which makes silk pennants and uses a process-costing system. All direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of at zero net disposal value. Gray Manufacturing Company uses the weighted average method of process costing. (Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units in first, then calculate the equivalent units. Flow of Production. Work in process, beginning Started during current period To account for Completed and transferred out during current period Normal spoilage Abnormal spoilage Work in process, ending Accounted for Equivalent units of work done to date Physical Units Data table Work in process, November 1 Started in November 2017 Good units completed and transferred out during November 2017 Normal spoilage Abnormal spoilage Physical Units (Pennants) 1,050 ? Print 8,900 120 40 1,800 Work in process, November 30 Total costs added during November 2017 "Degree of completion: direct materials, 100%; conversion costs, 45%. "Degree of completion: direct materials, 100%; conversion costs, 15%. Done Direct Materials $1,032 $12,000 Conversion Costs $740 $27,250 - X X Consider the following data for November 2017 from Gray Manufacturing Company, which makes silk pennants and uses a process-costing system. All direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of at zero net disposal value. Gray Manufacturing Company uses the weighted average method of process costing. (Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units in first, then calculate the equivalent units. Flow of Production. Work in process, beginning Started during current period To account for Completed and transferred out during current period Normal spoilage Abnormal spoilage Work in process, ending Accounted for Equivalent units of work done to date Physical Units Data table Work in process, November 1 Started in November 2017 Good units completed and transferred out during November 2017 Normal spoilage Abnormal spoilage Physical Units (Pennants) 1,050 ? Print 8,900 120 40 1,800 Work in process, November 30 Total costs added during November 2017 "Degree of completion: direct materials, 100%; conversion costs, 45%. "Degree of completion: direct materials, 100%; conversion costs, 15%. Done Direct Materials $1,032 $12,000 Conversion Costs $740 $27,250 - X X
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Physical Units Conversion Direct Materials Costs Work in process November 1 1050 740 Started in November 2017 8900 1032 Good units completed and transferred out during November 2017 8900 27250 Normal ... View the full answer
Related Book For
Probability & Statistics for Engineers & Scientists
ISBN: 978-0130415295
7th Edition
Authors: Ronald E. Walpole, Raymond H. Myers, Sharon L. Myers, Keying
Posted Date:
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