Silver Company manufactures kites and has the following information available for the month of April: Work...
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Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 40% for conversion) Direct materials Conversion cost Number of units started April costs Direct materials Conversion cost Work in process, April 30 (100% complete for materials, 20% for conversion) 50,000 units $ 78,000 $ 108,000 156,000 units $ 224,000 $ 334,000 79,000 units Required: Using the weighted-average method, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process. Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 40% for conversion) Direct materials Conversion cost Number of units started April costs Direct materials Conversion cost Work in process, April 30 (100% complete for materials, 20% for conversion) 50,000 units $ 78,000 $ 108,000 156,000 units $ 224,000 $ 334,000 79,000 units Required: Using the weighted-average method, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process.
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1 Reconcile the number of physical units worked on during the period To reconcile the number of physical units worked on during the period we need to consider the units in the beginning work in proces... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Posted Date:
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