Solution-Calculate the equivalent units of direct materials

Calculate the equivalent units of direct materials

Assignment Help Accounting Basics

Reference no: EM132865966

Question - Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company's production schedule for May:

Percent Completed Tons of Pulp Materials Conversion Work-in-Process Inventory, May 13,000 100% 50% Started during May 12,000 Units to account for 15,000 Units from beginning Work-in-Process, which were completed and transferred out during May3,000 Started and completed during May 7,200 Work-in-Process Inventory, May 314,800 100% 50% Total units accounted for 15,000.

The following cost data are available: Work-in-Process Inventory, May 1 Direct materials $35,490 Conversion 21,918 Costs incurred during May Direct materials 190,560 Conversion 331,890

Required -

1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method.

2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method.

Reference no: EM132865966

Questions Cloud

How much each potential intern knows about US electoral : Determine the best person for the job, the Senator wants to determine how much each potential intern knows about the U.S. electoral system.

Would you sign the Paid Preparer declaration on this return : Tom is adamant about this. Would you sign the Paid Preparer's declaration (see example above) on this return? Why or why not

Identify the broad reasons the government get involved : Identify the broad reasons the government get involved in the economy and the tools that the government uses to influence economy.

What amount of gain must Yasmine recognize : The fair market value of Nadir Corporation's stock at the time of the transfer was $50,000. What amount of gain must Yasmine recognize

Calculate the equivalent units of direct materials : Work-in-Process Inventory, May 1 Direct materials $35,490. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method

Functions of management : Explain how internal and external factors affect the four functions of management.

What are indices of power and leadership in global politics : What are the issues that enabled the emergence of "Emerging Powers" and to what extent can these be attributed to the changing nature of global politics?

Uniform commercial code : What kind of contracts are covered by Article 2 of the Uniform Commercial Code? What is the difference between Article I and Article II of the Sherman Act?

Determine the import duties and taxes : 1.The following questions are to determine the import duties and taxes that are appropriate on imported goods.

User Account

All Pages

Calculate the equivalent units of direct materials

Reference no: EM132865966

Reference no: EM132865966

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT