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Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-2, 3) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total Materials are added at the beginning of the process. The following quantities have been recorded: $ 56,500 35,500 $ 92,000 Beginning inventory, 40,500 partially complete gallons, 30 percent complete with respect to conversion costs. $ 125,000 375,000 $ 500,000 Units started in July, 80,500 gallons. Units transferred out in July, 90,500 gallons. Ending inventory, 30,500 gallons, 45 percent complete with respect to conversion costs. Cost per equivalent unit Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method. Note: Round your answers to 2 decimal places. Direct Materials Conversion Costs

Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-2, 3) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total Materials are added at the beginning of the process. The following quantities have been recorded: $ 56,500 35,500 $ 92,000 Beginning inventory, 40,500 partially complete gallons, 30 percent complete with respect to conversion costs. $ 125,000 375,000 $ 500,000 Units started in July, 80,500 gallons. Units transferred out in July, 90,500 gallons. Ending inventory, 30,500 gallons, 45 percent complete with respect to conversion costs. Cost per equivalent unit Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method. Note: Round your answers to 2 decimal places. Direct Materials Conversion Costs

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-2, 3) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total Materials are added at the beginning of the process. The following quantities have been recorded: $ 56,500 35,500 $92,000 Beginning inventory, 40,500 partially complete gallons, 30 percent complete with respect to conversion costs. $ 125,000 375,000 $500,000 Units started in July, 80,500 gallons. Units transferred out in July, 90,500 gallons. Ending inventory, 30,500 gallons, 45 percent complete with respect to conversion costs. Cost per equivalent unit Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method. Note: Round your answers to 2 decimal places. Direct Materials Conversion Costs
Transcribed Image Text:Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-2, 3) The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total Materials are added at the beginning of the process. The following quantities have been recorded: $ 56,500 35,500 $92,000 Beginning inventory, 40,500 partially complete gallons, 30 percent complete with respect to conversion costs. $ 125,000 375,000 $500,000 Units started in July, 80,500 gallons. Units transferred out in July, 90,500 gallons. Ending inventory, 30,500 gallons, 45 percent complete with respect to conversion costs. Cost per equivalent unit Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method. Note: Round your answers to 2 decimal places. Direct Materials Conversion Costs
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