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: Beginning inventory, 41,500 partially complete gallons, 40 percent complete with respect to conversion costs. • Units started in July, 81,500 gallons. Units transferred out in July, 91,500 gallons. • Ending inventory, 31,500 gallons, 55 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 Note: Round your answers to 2 decimal places. Direct Materials $ 3.60 $ 57,500 36,500 $ 94,000 Conversion Costs $ 135,000 385,000 $ 520,000 $ 6.63

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: Beginning inventory, 41,500 partially complete gallons, 40 percent complete with respect to conversion costs. • Units started in July, 81,500 gallons. Units transferred out in July, 91,500 gallons. • Ending inventory, 31,500 gallons, 55 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 Note: Round your answers to 2 decimal places. Direct Materials $ 3.60 $ 57,500 36,500 $ 94,000 Conversion Costs $ 135,000 385,000 $ 520,000 $ 6.63

Name: Munabhai The following cost information is available for July for the
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Description: Munabhai The following cost information is available for July for the Crest Plant at Calvert Company:Beginning work-in-process inventoryMaterials costConversion costTotal●Current costsMaterials costConversion costTotalMaterials are added at the begin

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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Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.
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