sol17 - CHAPTER 17 PROCESS COSTING 17-19 (15 min.)...

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

View Full Document Right Arrow Icon
CHAPTER 17 PROCESS COSTING 17-19 (15 min.) Weighted-average method, equivalent units. Under the weighted-average method, equivalent units are calculated as the equivalent units of work done to date. Solution Exhibit 17-19 shows equivalent units of work done to date for the Assembly Division of Fenton Watches, Inc., for direct materials and conversion costs. SOLUTION EXHIBIT 17-19 Steps 1 and 2: Summarize Output in Physical Units and Compute Output in Equivalent Units; Weighted-Average Method of Process Costing, Assembly Division of Fenton Watches, Inc., for May 2012. (Step 2) (Step 1) Equivalent Units Physical Direct Conversion Flow of Production Units Materials Costs Work in process beginning (given) 80 Started during current period (given) 50 0 To account for 58 0 Completed and transferred out during current period 460 460 460 Work in process, ending* (120 × 60%; 120 × 30%) 12 0 72 36 Accounted for 58 0 ___ ___ Equivalent units of work done to date 532 496 * Degree of completion in this department: direct materials, 60%; conversion costs, 30%. 17-20 (20 min.) Weighted-average method, assigning costs (continuation of 17-19). Solution Exhibit 17-20 summarizes total costs to account for, calculates cost per equivalent unit of work done to date in the Assembly Division of Fenton Watches, Inc., and assigns costs to units completed and to units in ending work-in-process inventory. SOLUTION EXHIBIT 17-20
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

sol17 - CHAPTER 17 PROCESS COSTING 17-19 (15 min.)...

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