Luft company uses the weighted-average method in its
Course:- Accounting Basics
Reference No.:- EM13601503

Assignment Help
Assignment Help >> Accounting Basics

Luft Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:

  • % Complete with respect
  • Units to Conversion Costs
  • WIP, Beg 6,000 90%
  • Units started in June 58,000
  • WIP, End 17,000 10%

According to the company's records, the conversion cost in beginning work in process inventory was $79,893 at the beginning of June. Additional conversion costs of $343,830 were incurred in the department during the month.What was the cost per equivalent unit for conversion costs for the month?

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Assuming Hydra uses the perpetual inventory system and the net method of accounting for purchase discounts, what amount is recorded as inventory from this purchase?
What do you think are the most important knowledge assets for this company? How could each of the following employee groups benefit from knowledge management? Designers and
Canliss Mining uses the retirement method to determine depreciation on its office equipment. During 2009, its first year of operations, office equipment was purchased at a c
Prepare a differential analysisThe area of accounting concerned with the effect of alternative courses of action on revenues and costs. dated November 12 on whether to rejec
Furthermore, and much after the fact, you discover that old medical equipment was sold to an unrelated party for $75,000 cash. Provide a journal entry to calculate the gain on
Distinguish between nominal and effective interest rates. Explain the nature of the $100,000 difference between the face value and the market value of the bonds on January 1
The company places raw materials orders 10 times per month, 2 times for raw materials for sweaters and the remainder for raw materials for jackets. How much of the order proce
Net income for the year ended December 31, 2012, was $510,000. There are no preferred shares issued. Basic earnings per share for 2012 would be ??