Plastic Molding, Inc. manufacturers plastic molding for automobiles. Its costing system utilizes two cost categories,...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Plastic Molding, Inc. manufacturers plastic molding for automobiles. Its costing system utilizes two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of production and conversion costs are allocated evenly throughout production:
Data for the Assembly Department for March 2007 are:
Work-in-Process, beginning inventory, 60% converted 400 units
Units started during March 2,000 units
Work-in-Process, ending inventory, 40% converted 200 units
1. What were the equivalent units for conversion costs assuming the weighted average costing is used?
2. What were the equivalent units for conversion costs assuming the first-in-first-out costing is used?
3. What were the equivalent units for direct materials assuming the weighted average costing is used?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
