Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. superior micro products uses the weighted-average

Superior Micro Products uses the weighted-average method in its process costing system. During January, the...

70.2K

Verified Solution

Question

Accounting

Superior Micro Products uses the weighted-average method in its process costing system. During January, the Delta Assembly Department completed its processing of 25,200 units and transferred them to the next department. The cost of beginning work in process inventory and the costs added during January amounted to $685,534 in total. The ending work in process inventory in January consisted of 2,900 units, which were 50% complete with respect to materials and 30% complete with respect to labor and overhead. The costs per equivalent unit for the month were as follows:

Materials Labor Overhead
Cost per equivalent unit $ 13.30 $ 5.00 $ 7.70

Required:

1. Compute the equivalent units of materials, labor, and overhead in the ending work in process inventory for the month.

2. Compute the cost of ending work in process inventory for materials, labor, overhead, and in total for January.

3. Compute the cost of the units transferred to the next department for materials, labor, overhead, and in total for January.

4. Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning work in process inventory and costs added during the month.)

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!
Become a Member

Other questions asked by students

Q

Q1: What factors have contributed to the rise of globalization? Why haven’t its effects been consistent...

Finance
Q

A solution of pentane and ethanol CH3CH2OH that is 50.% pentane by mass is boiling at...

Chemistry
Q

Consider the following pair of loan options for a $165,000 mortgage. Calculate the monthly payment...

Basic Math
Q

Sketch the region enclosed by the given curves y x 5 x y 5 4...

Calculus
Q

Suppose that 99 of all steroid users get a positive test result that the test...

Algebra
Q

Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1991....

Accounting
Q

Harold Co. received $10,000 in cash and a productive asset with a fair value of...

Accounting
Q

This Comprehensive Problem is to acquaint you with the content of the 2015 financial statements...

Accounting
Q

Rebuilding Company nas been operating tor one year AT...

Accounting
Q

PAUL CABLE SOURCE STARTED CONSTRUCTION ON A COMBINATION OFFICE AND WAREHOUSE BUILDING FOR ITS OWN...

Accounting
Q

Exercise 26-2

Accounting
Q

consider that a call option on non-dividend paying stock, where the stock price is $49...

Finance