Question

Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...

Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department:

Units:
Beginning Inventory: 39,000 units, 100% complete as to materials and 60% complete as to conversion.
Units started and completed: 138,000.
Units completed and transferred out: 177,000.
Ending Inventory: 37,000 units, 100% complete as to materials and 30% complete as to conversion.

Costs:
Costs in beginning Work in Process - Direct Materials: $57,000.
Costs in beginning Work in Process - Conversion: $62,850.
Costs incurred in February - Direct Materials: $380,100.
Costs incurred in February - Conversion: $613,150.

Calculate the cost per equivalent unit of materials.

Multiple Choice

  • $2.04

  • $2.01

  • $1.76

  • $2.35

  • $2.66

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 33,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 124,000. Units completed and transferred out: 157,000. Ending Inventory: 33,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $50,000. Costs in beginning Work in Process -...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February...
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 37,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 134,000. Units completed and transferred out: 171,000. Ending Inventory: 36,000 units, 100% complete as to materials and 35% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $55,000. Costs in beginning Work in Process -...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 95,000 units, 70% complete as to materials and 20% complete as to conversion. Units started and completed: 280,000. Units completed and transferred out: 375,000. Ending Inventory: 37,500 units, 30% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $52,200. Costs in beginning Work in Process -...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process -...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October...
Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process -...
Andrews Corporation uses the weighted-average method of process costing. The following information is available for February...
Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production—direct materials 116,000 EUP Equivalent units of production—conversion 100,100 EUP Costs in beginning Work in Process—direct materials $ 57,400 Costs in beginning Work in Process—conversion $ 42,200 Costs incurred in February—direct materials $ 485,300 Costs incurred in February—conversion $ 609,600 The cost per equivalent unit of production for direct materials is: Multiple Choice $4.18 $4.68 $9.44 $5.26...
Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products....
Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company's first production process September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (1,500 units, 100% complete with respect to direct materials, 70% complete with respect to conversion; consists of $45,800 of direct materials cost, $84,695 conversion cost $...
Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products....
Hi-Test Company uses the weighted-average method of process costing to assign production costs to its products. Information for the company's first production process September follows. Assume that all materials are added at the beginning of this production process, and that conversion costs are added uniformly throughout the process. Work in process inventory, September 1 (1,500 units, 100% complete with respect to direct materials, 70% complete with respect to conversion; consists of $45,800 of direct materials cost, $84,695 conversion cost $...
Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the...
Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department’s operations in January. Units Percent Complete with Respect to Conversion Beginning work in process inventory 5,150 70 % Transferred in from the prior department during January 59,050 Completed and transferred to the next department during January 56,850 Ending work in process inventory 7,350 40 % The accounting records indicate that the conversion...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average 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 process. During November, the company transferred 810,000 units of product to finished goods. At the end of November, the work in process inventory consists of 197,000 units that are 90% complete with respect to conversion. Beginning inventory had $392,730 of direct materials and $123,413 of conversion cost. The direct material cost...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT