# exercise4.2 - AC2720 Module 4 Cost Allocation Exercise 4.2...

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AC2720: Module 4 Cost Allocation Exercise 4.2 Process Costing 1 There are four problems in this assessment. You need to complete all the four problems. Problem 1: Weighted-Average Method, Assigning Costs Tomlinson Corporation is a biotech company based in Milpitas. It makes a cancer-treatment drug in a single processing department. Direct materials are added at the start of the process. Conversion costs are added evenly during the process. Tomlinson uses the weighted-average method of process costing. The following information for July 2014 is available: Answer the following questions: 1. Calculate the cost per equivalent unit for direct materials and conversion costs. 2. Summarize the total costs to account for, and assign these to the units completed (and transferred out) and to units in ending work in process. Problem 2: Transferred-in Costs, Weighted-Average Method Trendy Clothing, Inc. is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the

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AC2720: Module 4 Cost Allocation Exercise 4.2 Process Costing 2 process. Conversion costs are added evenly during the process. Trendy uses the weighted-average method
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