7. Exercise 8-20 (Algo) Compute Equivalent Units: Weighted-Average Method (LO 8-1, 3) Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 61 percent complete). Started this month, 59,200 units. Transferred out, 49,500 units. Ending inventory, 19,100 units (materials are 100 percent complete; conversion costs are 17 percent complete).
Required:
a. Compute the equivalent units for materials using the weighted-average method.
b. Compute the equivalent units for conversion costs using the weighted-average method.
[The following information applies to the questions displayed below.]
Pacific Ink had beginning work-in-process inventory of $802,560 on October 1. Of this amount, $335,200 was the cost of direct materials and $467,360 was the cost of conversion. The 59,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs.
During October, 124,000 units were transferred out and 41,000 remained in ending inventory. The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,094,000 for direct materials and $3,893,400 for conversion.
Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-3)
Required:
a. Compute the equivalent units for the materials and conversion cost calculations.
b. Compute the cost per equivalent unit for direct materials and for conversion costs using the weighted-average method.
Complete this question by entering your answers in the tabs below.
Required A
Required B
B. Compute the cost per equivalent unit for direct materials and for conversion costs using the weighted-average method. (Round your answers to 2 decimal places.)
Cost Per Equivalent Unit
Direct materials
Conversion costs
A. Compute the equivalent units for the materials and conversion cost calculations.
Equivalent units for materials
Equivalent units for conversion costs
9. Required information
Exercise 8-37, 8-38, 8-39, 8-40 (Algo) (LO 8-2, 3, 5)
[The following information applies to the questions displayed below.]
Pacific Ink had beginning work-in-process inventory of $802,560 on October 1. Of this amount, $335,200 was the cost of direct materials and $467,360 was the cost of conversion. The 59,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs.
During October, 124,000 units were transferred out and 41,000 remained in ending inventory. The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,094,000 for direct materials and $3,893,400 for conversion.
Exercise 8-38 (Algo) Assign Costs to Goods Transferred Out and Ending Inventory: Weighted-Average Method (LO 8-2, 3)
Compute the costs of goods transferred out and the ending inventory using the weighted-average method. (Round intermediate calculations to 2 decimal places.)
Cost of goods transferred out
______
Ending inventory
Answer & Explanation
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