Question

Figure 6-15 The Davidson Company uses a weighted-average process costing system. The following information was reported...

Figure 6-15

The Davidson Company uses a weighted-average process costing system. The following information was reported for the Assembly Process for January. Materials are added at the beginning of the process and are 100%.

Units: units % complete for conversions
work in process, 1/1 60,000 15%
started 105,000
work in process, 1/31 40,000 20%
Costs:
beginning work in process $16,500 $33,250
current costs $643,500 $332,500

18. Refer to Figure 6-15. What are the equivalent units for materials?

a. 133,000

b. 100,000

c. 165,000

d. 125,000

e. none of the above

19. Refer to Figure 6-15. What are the equivalent units for conversion?

a. 133,000

b. 165,000

c. 125,000

d. 100,000

e. none of the above

20.. Refer to Figure 6-15. What is the cost per unit for conversion?

a. $2.79

b. $2.75

c. $2.50

d. $2.22

e. none of the above

21.. Refer to Figure 6-15. What is the cost per unit for materials?

a. $4.00

b. $3.90

c. $4.96

d. $2.75

e. none of the above

22. Refer to Figure 6-15. What is the cost assigned to the units completed and transferred to finishing?

a. $843,750

b. $708,750

c. $777,500

d. $976,000

e. none of the above

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Homework Answers

Answer #1
Q18 equivalent units for materials c 165,000 Units
Q19 equivalent units for conversion a 133,000 Units
Q20 cost per unit for conversion b $2.75
Q21 cost per unit for materials a $4
Q22 cost assigned to the units completed and transferred to finishing = 500,000 + 343,750 a. $843,750
Statement of Equivalent production
Particulars Direct Materials %completion Equivalent mat Conversion %completion Equivalent Conv
Inventory in process, January 01              60,000.00 100%                 60,000.00              60,000.00 100%                 60,000.00
Started and completed in January = 105,000 - 40,000              65,000.00 100%                 65,000.00              65,000.00 100%                 65,000.00
Transferred to finished goods in January
Inventory in process, January 31              40,000.00 100%                 40,000.00              40,000.00 20%                    8,000.00
Equivalent Units of production               165,000.00               133,000.00
Opening WIP Costs                 16,500.00                 33,250.00
Current Month Costs               643,500.00               332,500.00
Total costs               660,000.00               365,750.00
Cost per Equivalent units                            4.00                            2.75
Units completed and transferred out               125,000.00               125,000.00
Cost of Units completed and transferred out               500,000.00               343,750.00
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