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Homework answers / question archive / Callisto Company manufactures chemical additives for industrial applications
Callisto Company manufactures chemical additives for industrial applications. As the new cost accountant, you have been assigned the task of completing the production cost report for the most recent period. Callisto uses the weighted average, method of process costing. The following information is for the most recent period. 2 3 1 Work in process, beginning Started in production Completed and transferred out Work in process, ending Percentage Complete Conversion Units Materials Costs 16,300 70% 65% 27,000 31,300 ? 60% 45% Work in process, beginning Costs added during the period Materials Conversion Costs $132,000 $167,000 $250,690 $444,055 equired: art 1: Calculate the actual units in ending work in process for the most recent period. (3 marks) Work in process, ending 2: Calculate the following. (14 marks) Equivalent units
S441,055 Required: Part 1: Calculate the actual units in ending work in process for the most recent period. (3 marks) 12 13 20 21 Work in process, ending 22 23 Part 2: Calculate the following: (14 marks) 24 25 Equivalent units Conversion Materials Costs 26 27 28 29 Equivalent units of production 30 31 32 33 34 35 36 37 Cost per equivalent unit 8 Conversion
Bo Cost per equivalent unit 39 Materials Conversion Costs Total Cost 40 41 42 43 Part 3: Prepare the journal entry to record the transfer from this department assuming it is the last production process.
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