Question: why is my sample question incorrect? Victory Company uses weightedaverage process costing to account for its production costs. Conversion cost is added evenly throughout the

why is my sample question incorrect?

why is my sample question incorrect? Victory Company uses weightedaverage process costing

Victory Company uses weightedaverage process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the rst process transferred 725,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 195,000 units that are 80% complete with respect to conversion. Beginning work in process inventory had $538,200 of direct materials and $198,225 of conversion cost. The direct material cost added in November is $3,601,800, and the conversion cost added is $3,766,275. Beginning work in process consisted of 69,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 69,000 were from beginning work in process and 656,000 units were started and completed during the period. 3. Compute the direct material cost and the conversion cost assigned to units completed and transferred out and ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Cost of units transferred out: EUP Direct materials _ EUP Cost per EUP Total cost Conversion Total costs transferred out Costs of ending work in process Cost per EUP Total cost _ Direct materials _

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!