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Unformatted text preview: 17-27 Transferred-in costs, weighted-average method.1, 2. & 3. Solution Exhibit 17-27A calculates the equivalent units of work done to date. Solution Exhibit 17-27B calculates the cost per equivalent unit of work done to date for transferred-in costs, direct materials, and conversion costs, summarizes total costs to account for, and assigns these costs to units completed and transferred out and to units in ending work-in-process inventory.SOLUTION Steps 1 and 2: Summarize Output in Physical Units and Compute Output in Equivalent UnitsWeighted-Average Method of Process Costing;Finishing Department of Aragon Industrials for June 2007.(Step 1)(Step 2)Equivalent UnitsFlow of ProductionPhysicalUnitsTransferred-in CostsDirectMaterialsConversion CostsWork in process, beginning (given)50Transferred in during current period (given)90To account for140Completed and transferred outduring current period100100100100Work in process, ending* (given)4040 ×100%; 40 ×0%; 40 ×75% 4030Accounted for140Work done to date...
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This note was uploaded on 07/07/2009 for the course ACCT 2102 taught by Professor Unknown during the Three '08 term at Queensland.
- Three '08