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About Mussu HVAC Testing & E About Youngstow inbox (1)-ji Justin Vinkle oa Mail-Jrvinki Cost Accoun Cost Manage Cost Accoun Weighted × U www.chegg.com/homework-help/weighted-a 80% |Q?Within normal range. Most Visited S Watch Sports Are Free Cost Management: A Strategic Emphasis |(7th Edition) Chapter 6, Problem 40P 2 Bookmarks) Show all steps. Post a question rom our experts for your tough Problem Enter question Weighted-Average Method The T L Lin Company manufactures variety of natural fabrics for the clothing industry in a suburb of Shanghai. The following data in Chinese currency caled yuan pertain to the month of October CONTINUE TO POST Work-in-process inventory, October 1 50,000 units 55,440 yuan 10 questions remaining Direct materials: 60% complete Conversion: 30% complete 54,425 yuan Costs incurred during Detober 820,400 yuan 1,350,600 yuan Direct materials My Textbook Solutions During October, 200,000 units were completed and transferred out. At the end of the month, 30,000 units (drect materals 80% and conversion 50% complete) remain n work-n-process nventory. Required Calculate each of the folowing amounts using weighted-average process costing. 1. Equivalent units of direct materials and conversion. Cost." Operations Cost th Edition oth Edson eth Edition 2. Unit costs of direct materials and conversion. ew sl solutions 3. Cost of goods completed and transferred out during October. Accounting Chegg tutors who can help right now 4. Cost of the work-in-process inventory at October 31 5. Check the most recent issue of The Wall Street Journal or go to www.federa reserve.govrelsase3/H10hist to laam the exchange rate between the U.S. dolar and the Chinese yuan Unversity of San Fr...670 Edwerd's Univer.. O Ask me anything 11:15 AM 3/12/2018Explanation / Answer
5.) USD = 6 Chinese Yuan
1.)
Opening Equiivalent Units of Material and Conversion
Direct Materials = 30,000 units CNY 55,440
Conversion = 15,000 units CNY 54,425
Closing Equivalent Units of Material and Conversion
Direct Materials = 24,000 units
Conversion = 15,000 units
Units Turned Out during October
Direct Material = 200,000 units
Conversion = 200,000 units
1.)Production Equivalent number of Units
Direct Material = 200,000 + 24,000 - 30,000 = 194,000 units
Conversion = 200,000 + 15,000 - 15,000 = 200,000 units
Total Costs, Equivalent Units
Direct Material = CNY 875,840 Direct Materials = 194,000 units
Conversion = CNY 1,405,025 Conversion = 200,000 units
2.)Cost per Equivalent Unit
Direct Material = CNY 4.515
Conversion = CNY 7.025
3.)Units Turned Out
Direct Material = 4.515 * 200,000 = CNY 903,000
Conversion = 7.025 * 200,000 = CNY 1,405,000
4.)Closing WIP
Direct Material = 4.515 * 24,000 = CNY 108,360
Conversion = 7.025 * 15,000 = CNY 105,375
Good luck