[Get Answer ]-Cost Accounting 9

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Question Description

Need all work shown so i understand how to do this.

Problem 1:

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Kali Manufacturing Inc. began the year with the following.

Units

Beginning work-in-process

20,000

20% complete

Transferred to finished goods

60,000

Ending inventory

10,000

70% complete

Materials added at the beginning of the process

Required
Calculate the equivalent units for

  1. material costs under the weighted average process cost method;
  2. conversion costs under the weighted average process cost method;
  3. material costs under the FIFO process cost method; and
  4. conversion costs under the FIFO process cost method.

Problem 2:

Glass Company manufactures a product through a continuous single-stepprocess. All materials are added at the beginning of processing.Production and cost data for the company for the current month are asfollows.

Production Data

units

In process, beginning of month (20% converted)

2000

Started during current month

8000

Completed and transferred to finished goods

5500

In process, end of month (60% converted)

4500

Manufacturing Costs

Work in process, beginning

  -Materials

$15,000

  -Conversion

$6,450

Production Costs Added

  -Materials

$54,000

  -Direct labor cost

$105,000

  -Factory overhead cost

$36,150

Required
Prepare a cost of production report for current month. Use Weighted-Ave process costing.

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