Question: Question9 The Assembly Department uses a process cost accounting system and a weighted-average cost flow assumption. The departmen adds materials at the beginning of the

 Question9 The Assembly Department uses a process cost accounting system and
a weighted-average cost flow assumption. The departmen adds materials at the beginning
of the process and incurs conversion costs uniformly throughout the process. During

Question9 The Assembly Department uses a process cost accounting system and a weighted-average cost flow assumption. The departmen adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July. $190,a of materials costs and $137,100 in conversion costs were charged to the department. The beginning work in process inventory w $93,000 on July 1, comprised of $80,000 of materials costs and $13,000 of conversion costs Other data for the month of July are as follows Beginning work in process inventory, 7/1 25,000 units Units completed and transferred out70,000 units Ending work in process inventory,7/31 30,000 units (40% complete) (30% complete) Answer the following questions and show computations to support your answers. How many physical units have to be accounted for in Juv units Physical units for the month of July? What are the equivalent units of production for materials and for conversion costs How many physical units have to be accounted for in July? Physical units units What are the equivalent units of production for materials and for conversion costs for the month of July? Equivalent units of production for materials units Equivalent units of production for conversion costs units What is the total cost assigned to the 70.000 units that were transferred out of the process in July? Total cost assigned $ What is the total cost of the July 31 inventory? Total cost of the July 31 inventory$ Equivalent units of production for materials units Equivalent units of production for conversion costs units What is the total cost assigned to the 70,000 units that were transferred out of the process i July? Total cost assigned $ What is the total cost of the July 31 inventory? Total cost of the July 31 inventory s

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!