Reference no: EM132825052
Question - Use the following data for Jones Calculators. The company uses process costing.
Physical Units Direct Conversion Materials Costs
Beginning work in process (1 May) 50 $1,000 $2,000
Started in May 200
Completed during May 210
Ending work in process (31 May) 40
Total costs added during May $8,000 $9,000
The percentage of completion for the beginning work in process inventory is: Direct materials 50%; Conversion Costs 60%
The percentage of completion for ending work in process inventory is: Direct materials 80%; Conversion Costs 30%
Required - Using the weighted-average method
Calculate the equivalent units for direct materials and conversion costs.
Include the physical units.
Summarise the total costs to account for.
Calculate cost per equivalent unit for direct materials and conversion costs.
Assign total costs to units completed (and transferred out) and to units in ending work in process.
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