Azure Textiles Company makes silk banners and uses the weighted-average method of process costing. Direct...
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Azure Textiles Company makes silk banners and uses the weighted-average method of process costing. Direct materials are added at the beginning of the process, and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of at zero net disposal value. Direct Material Conversion Cost Total Beginning WIP 1000 100% 50% Started in July 2017 ? Good units completed and 9000 transferred -out Normal spoilage 100 Abnormal spoilage 50 Ending WIP July 31 2000 100% 30% Determine the equivalent units of work done in July, and calculate the cost of units completed and transferred out (including normal spoilage), the cost of abnormal spoilage, and the cost of units in ending inventory
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