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Moravia Company processes and packages cream cheese. The following data have been compiled for the month...

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Accounting

Moravia Company processes and packages cream cheese. Thefollowing data have been compiled for the month of April.Conversion activity occurs uniformly throughout the productionprocess.

Work in process, April 1—12,000 units:
Direct material: 100% complete, cost of$16,000
Conversion: 20% complete, cost of3,900
Balance in work in process, April 1$19,900
Units started during April120,000
Units completed during April and transferred out tofinished-goods inventory97,000
Work in process, April 30:
Direct material: 100% complete
Conversion: 25% complete
Costs incurred during April:
Direct material$300,800
Conversion costs:
Direct labor$47,000
Applied manufacturing overhead97,150
Total conversion costs$144,150


Prepare schedules to accomplish each of the followingprocess-costing steps for the month of April. Use theweighted-average method of process costing.

Required:

1. Analysis of physical flow of units.

2. Calculation of equivalent units.

3. Computation of unit costs. (Round"Cost per Equivalent Unit" to 2 decimal places.)

4. Analysis of total costs. (Round"Cost per Equivalent Unit" to 2 decimal places.)

Answer & Explanation Solved by verified expert
4.1 Ratings (816 Votes)
Requirement 1 Reconciliation of Units A Opening WIP 12000 B Introduced 120000 CAB TOTAL 132000 D Transferred 97000 ECD Closing WIP 35000 Requirement 2 Material Conversion Equivalent Units of Production 132000 105750 Requirement 3 Material Conversion Cost per    See Answer
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