The Sherron Processing Company had work in process at the beginning and end of March...
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The Sherron Processing Company had work in process at the beginning and end of March 2017 in its Painting Department as follows: (Click the icon to view the work-in-process information.) The company completed 30,000 units during March. Manufacturing costs incurred during March were direct materials costs of $300,000 and conversion costs of $52,000. Inventory at March 1 was carried at a cost of $20,000 (direct materials$5,000 and conversion costs$15,000). Assuming Sherron uses weighted average costing, determine the equivalent units of work done in March, and calculate the cost of units completed and the cost of units in ending inventory. Begin by entering the physical units first, then calculating the equivalent units. Data table Physical Flow of Production Units Work in process beginning Percentage of Completion Direct Materials Conversion Costs Started during current period 50% 10% March 1 (4,600 units) March 31 (50,000 units) To account for 65% 40% Completed and transferred out during current period Work in process, ending Accounted for Print Done Equivalent units of work done to date
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