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Walton Ski Company manufactures snow skis
Walton Ski Company manufactures snow skis. During the most recent accounting period, the company's finishing department transferred 4,100 sets of skis to finished goods. At the end of the accounting period, 460 sets of skis were estimated to be 60 percent complete. Total product costs for the finishing department amounted to $262,560.Required
Expert Solution
| 1) Computation of Cost per Equivalent Unit: | ||
| Units completed and transferred (a) | 4100 | |
| Ending Inventory (b) | 276 | =460*60% |
| Equivalent Units (a/b) | 4376 | |
| Total product costs (a) | 262560 | |
| Equivalent Units (b) | 4376 | |
| Cost per Equivalent Unit (a/b) | 60 | |
| 2) Computation of Cost allocation to Finished Goods: | ||
| Units completed and transferred (a) | 4100 | |
| Cost per equivalent unit (b) | 60 | |
| Allocation to finished goods (a*b) | 246000 | |
| 3) Computation of Cost allocation to Ending Inventory: | ||
| Ending inventory Units (a) | 276 | |
| Cost per equivalent unit (b) | 60 | |
| Allocation to ending inventory (a*b) | 16560 |
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