3. (9 points) Anchor Inc, uses the weighted-average method in its process cos system. The following data concern the operations of th

3. (9 points) Anchor Inc, uses the weighted-average method in its process cos system. The following data concern the operations of the companys first processing department for a recent month. Work in process, beginning: Units in process Costs in the beginning inventory $67,000 $50,750 Materials cost. Units started into production during the mont... Units completed and transferred ou 130,000 120,000 Costs added to production during the month: Materials cost. Conversion cos. $500,000 $226,000 Work in process, ending: Units in process.. % of completion with respect to materials % ofcompletion with respect to conversion 15,000 40% 20% Required: Prepare a process costing departmental production report (calculation of equivalent units, cost per equivalent unit, and cost reconciliation) for the department using the weighted-average method. Round the cost per unit to the nearest cent. ぐロ面→

3. (9 points) Anchor Inc, uses the weighted-average method in its process cos system. The following data concern the operations of the company’s first processing department for a recent month. Work in process, beginning: Units in process Costs in the beginning inventory $67,000 $50,750 Materials cost. Units started into production during the mont… Units completed and transferred ou 130,000 120,000 Costs added to production during the month: Materials cost. Conversion cos. $500,000 $226,000 Work in process, ending: Units in process.. % of completion with respect to materials % ofcompletion with respect to conversion 15,000 40% 20% Required: Prepare a process costing departmental production report (calculation of equivalent units, cost per equivalent unit, and cost reconciliation) for the department using the weighted-average method. Round the cost per unit to the nearest cent. ぐロ面→

Expert Answer

 

Solution

Cost of production report

Quantity schedule materials conversion
Units to be accounted for:
WIP, beginning 5,000
Started into production 130,000
Total units to be accounted 135,000
Units accounted for:
Transferred to next department 120,000 120,000 120,000
WIP, ending 15,000 6000(40%) 3000(20%)
Total units accounted for(EUP) 135,000 126,000 123,000
Costs per EUP: total cost materials conversion
WIP, beginning $117,750 $67,000 $50,750
Cost added during period $726,000 $500,000 $226,000
Total cost $843,750 $567,000 $276,750
÷ EUP 126,0000 123,000
Cost per EUP $6.75 $4.5 $2.25
Cost reconciliation:
Transferred out(120000 units) $810,000

(120000×6.75)

$540,000

(120000×4.5

$270,000

(120000×2.25)

Work in process ending(15000 units) $33,750 $27,000

(6000×4.5)

$6750

(3000×2.25)

Total coat 843,750
Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

HOW OUR ONLINE ESSAY WRITING SERVICE WORKS

Let us write that nagging essay.

STEP 1

Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.

STEP 2

Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.

STEP 3

Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.

STEP 4

Receive your Paper

After Editing, your paper will be sent to you via email.

× How can I help you?