Business, 18.03.2021 01:20 jmarie87

Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method. Costs to Account For
Beginning inventory: materials $9,000
Beginning inventory: conversion 18,000
Direct material 39,000
Direct labor 75,000
Applied overhead 36,355
Total costs to account for $177,355
Units to Account For
Beginning work in process 6,000
Units started into production 18,000
Transferred out 19,000

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Answer from: leekkk

Production Cost Report

INPUTS

Units Costs

Beginning Inventory 6,000 $27,000

Started 18,000 $150,355

Total 24,000 $204,355

OUTPUTS

Completed and Transferred 19,000 $157,890

Ending Inventory 5,000 $19,465

Total 24,000 $177,355

Explanation:

Step 1 : Units in Ending Work in Progress

Units in Ending Work in Progress = 6,000 + 18,000 - 19,000 = 5,000 units

Step 2 : Equivalent Units

Materials = 19,000 x 100 % + 5,000 x 100% = 24,000 units

Conversion Costs = 19,000 x 100 % + 5,000 x 30% = 20,500 units

Step 3 : Cost per Equivalent units

Materials = ($9,000 + $39,000) ÷ 24,000 units = $2.00

Conversion Costs = ($18,000 + $75,000 + $36,355) ÷ 20,500 units = $6.31

Total = $2.00 + $6.31 = $8.31

Step 4 : Cost of units transferred and units in ending inventory

Cost of units transferred = $8.31 x 19,000 = $157,890

Cost of units in ending inventory = $2.00 x 5,000 + $6.31 x 1,500 = $19,465

Answer from: Quest

no one can you on this you have to find a website that displays their earnings for this

Answer from: Quest

Answer:

the correct answer is economics is a game without winners or losers.

explanation:

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

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