CH 4 Quiz - Homework Manager 2 - Managerial Accounting...

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Question 1: Score 1/1 Question 2: Score 1/1 Your response Correct response Exercise 4-2 Computation of Equivalent Units—Weighted-Average Method [LO2] Lindex Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during October is given below: Percent Completed Units Materials Conversion Work in process, October 1 50,000 90% 65% Work in process, October 31 37,000 68% 55% The department started 392,000 units into production during the month and transferred 407,000 completed units to the next department. Required: Compute the equivalent units of production for the first department for October, assuming that the company uses the weighted-average method of accounting for units and costs. Materials Conversion Equivalent units of production 432,160 (50%) 427,350 (50%) Exercise 4-2 Computation of Equivalent Units—Weighted-Average Method [LO2] Lindex Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during October is given below: Percent Completed Units Materials Conversion Work in process, October 1 50,000 90% 65% Work in process, October 31 37,000 68% 55% The department started 392,000 units into production during the month and transferred 407,000 completed units to the next department. Required: Compute the equivalent units of production for the first department for October, assuming that the company uses the weighted-average method of accounting for units and costs. Materials Conversion Equivalent units of production 432,160 427,350 Feedback: Equivalent Units Materials Conversion Units transferred to the next department 407,000 407,000 Ending work in process: Materials: 37,000 units × 68% complete 25,160 Conversion: 37,000 units × 55% complete 20,350 Equivalent units of production
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CH 4 Quiz - Homework Manager 2 - Managerial Accounting...

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