Maykes Company uses a weighted-average process costing system and started 23,000 units this month. Maykes...
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Maykes Company uses a weighted-average process costing system and started 23,000 units this month. Maykes had 12,000 units that were 30% complete as to conversion costs in beginning work in process inventory and 2,600 units that were 30% complete as to conversion costs in ending work in process inventory.
Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. a) What are equivalent units of production with respect to conversion costs?
Inputs
Outputs
Beginning WIP
Add Current Month
Total Production
Completed Transfer Out
Ending WIP
Total Outputs
Direct Materials Units
Answer
Answer
Answer
Answer
Answer
Answer
% Equivalent Completed
Answer%
Answer%
Conversion Equivalent Units
Answer
Answer
Answer
Answer
b) If the Maykes Company assigned $50,765 of conversion cost to its previous months ending inventory and incurred an additional conversion cost of $118,453 during this month, compute the cost per equivalent unit with respect to conversion costs. Round the cost per unit to 2 decimal places.
Inputs
Cost of Production per Unit
Beginning WIP
Add Current Month
Total Production Cost
Conversion Units
Answer
Conversion Cost
$Answer
$Answer
$Answer
$Answer
Answer & Explanation
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