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Chapter 17 Individual Assignment (Gannett Watches)

Chapter 17 Individual Assignment (Gannett Watches) -...

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Unformatted text preview: Gannett Watches Consider the following information for the assembly division of Gannett Watches Inc., which operates under the weighted-average method of process costing. Physical Direct Conversion Units Materials Costs (watches) Work in process, beginning inventory (May l)a 75 $492,000 $94,000 Started during May 515 Completed and transferred out during May 460 —— Work in process, ending inventory (May 31)'130 Total costs added during May $3,230,000 $1,400,000 3 Degree of completion: Direct materials 90%; Conversion Costs 40% 1’ Degree of completion: Direct materials 65%; Conversion Costs 35% Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. ...
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