I need solutions for number 7 Write the last two digits of your student ID here
ID: 2336268 • Letter: I
Question
I need solutions for number 7
Write the last two digits of your student ID here 1) Pierce Co. manufactures a single product that goes through two processes mixing and cooking. The following data pertains to the Mixing Department for September. Substitute the last two digits of your student ID where you see XX. 56,000 XX,000!units Work-in-process inventory, September 30 24,000 units Conversion-40% completed Units started into production Units completed and transferred out Costs: 86,000 units units Material R Material S Conversion $122,300 143,78 194,550 Material R Material S Conversion 409,660 246,820 526,618 Material R is added at the beginning of work in the Mixing Department. Material S is also added in the Mixing Department, but not until units of product are thirty percent completed with regard to conversion. Conversion costs are incurred uniformly during the process. Required: (1) Calculate the equivalent units for Material R using the weighted-average method. (2) Calculate the equivalent units for Material S using the weighted-average method. (3) Calculate the equivalent units for conversion using the weighted-average method. (4) Calculate the unit costs using the weighted-average method. (5) Calculate the cost of units completed and transferred out using the weighted-average method. (6) Calculate the cost of ending work in process using the weighted-average method. (7) Repeat 1-7 using the FIFO method.Explanation / Answer
Units Equivalent Units Material R Material S Conversion Cost WIP in the beginning-60% 56000 Started During September 86000 Units to be accounted for 142000 Units completed and transferred (142000-24000) 118000 118000 118000 118000 WIP at end 40% 24000 24000 24000 9600 Material R -100% material S-100%,Conversion -40% Units accounted for 142000 142000 142000 127600 Calculation of cost per Equivalent Unit material R Material-S Conversion Cost Total WIP at beginning Cost Incurred during Sep Total (A) 122300 143780 194550 460630 Cost Incurred during Sep 409660 246820 526618 1183098 Total (A) 531960 390600 721168 1643728 Units Units Completed Equivalent Units 118000 118000 118000 Ending WIP 24000 24000 9600 Total(B) 142000 142000 127600 Cost Per Equivalent Unit 3.75 2.75 5.65 12.15 Cost of completed units Material R 442500 Material S 324500 Conversion Cost 666700 Total Cost of Completed Goods 1433700 Cost of Ending WIP Material -R 90000 Material -S 66000 Conversion Cost 54240 Total Cost of Ending WIP 210240 Total Cost Accounted for 1643940 1 Calculate the equivalent units of Material R 142000 units 2 Calculate the equivalent units of Material S 142000 units 3 Equivalent Units of Conversion Cost 127600 4 Unit Cost Under Weighted Average 12.15 5 Cost of Units Completed and transferred out 1433700 6 Cost of Ending WIP 210240