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Author Question: Beta Tools Ltd. uses the weighted-average method of process costing. Materials are added at the ... (Read 62 times)

Awilson837

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Beta Tools Ltd. uses the weighted-average method of process costing. Materials are added at the beginning of the machining process and conversion costs are added evenly throughout the process. The following activity occurred in its Machining Department during November.

Units:
Work in process, November 1 (80% of the way through the process) 16,000 units
Transferred in from the Casting Department during November54,000 units
Completed during November     ?     units
Work in process, November 30 (70% of the way through the process)18,000 units

Costs:
Work in process, November 1 (transferred-in costs, $40,100; direct materials costs, $40,500; and conversion costs, $39,632) $120,232
Transferred in from the Casting Department during November .$194,400
Direct materials added during November$148,500
Conversion costs added during November$181,300

Required
1. Summarize flow of physical units and compute total equivalent units for three cost categories:
transferred-in, direct materials, and conversion costs.
2. Summarize total costs to account for and compute the cost per equivalent unit for each cost
category.
3. Assign total costs to (a) units completed and transferred to Finished Goods Inventory and (b)
units in November 30 Work in Process Inventory.


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Marked as best answer by Awilson837 on Jan 5, 2020

Juro

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Awilson837

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Reply 2 on: Jan 5, 2020
YES! Correct, THANKS for helping me on my review


mcarey591

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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