topic 7 sol - 17-27 Transferred-in costs weighted-average...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

This note was uploaded on 07/07/2009 for the course ACCT 2102 taught by Professor Unknown during the Three '08 term at Queensland.

Page1 / 3

topic 7 sol - 17-27 Transferred-in costs weighted-average...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online