Question

The assembly division of Cannett Watches, Inc. uses the weighted average method of process costing. Cons der the following data for the month of May 2017: BE: (Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units first, then calculate the equivalent units. Equivalent Units Physical Units Direct Materials Conversion Costs i X Data Table - Flow of Production Work in process beginning Started during current period To account for Completed and transferred out during current period Work in process, ending Accounted for Conversion Costs $67,350 Physical Units Direct (Watches) Materials Beginning work in process (May 1) 78 $249,750 Started in May 2017 195 Completed during May 2017 Ending work in process (May 31, Total costs added during May 2017 $3,240,000 *Degree of completion direct materials, 80%, conversion costs, 35%. Degree of completion direct materials, 40%4; conversion costs, 20%. 443 $1.410.000 Equivalent units of work done to date Print Dune

Answer 1

Solution:

25 VK 26 27 Equivalent Units Direct Conversion Materials costs 28 Flow of Production Physical Units 29 30 Units to accounts for: Work in process beginning Units started during current period total physical units To account for 31 32 78 495 573 33 34 35 443 443 units accounted for: Completed and transferred out Work in Process, ending(40%,20%) Total physical units Accounted for Total Equivalent units 36 37 38 521 130 573 495 469 39 41 42 48 49 60 61 64 68 71 72 73 eet62 Sheet62 (4) Sheet225 ) Sheet64 Sheet65