Chat with AI
Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins
Edition 7ISBN: 978-0077733773Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins
Edition 7ISBN: 978-0077733773 Exercise 17
Weighted-Average Method The T. L. Lin Company manufactures a variety of natural fabrics for the clothing industry in a suburb of Shanghai. The following data in Chinese currency called yuan pertain to the month of October.
During October, 200,000 units were completed and transferred out. At the end of the month, 30,000 units (direct materials 80% and conversion 50% complete) remain in work-in-process inventory.
Required Calculate each of the following amounts using weighted-average process costing.
1. Equivalent units of direct materials and conversion.
2. Unit costs of direct materials and conversion.
3. Cost of goods completed and transferred out during October.
4. Cost of the work-in-process inventory at October 31.
5. Check the most recent issue of The Wall Street Journal or go to www.federalreserve.gov/releases/H10/hist/ to learn the exchange rate between the U.S. dollar and the Chinese yuan.
During October, 200,000 units were completed and transferred out. At the end of the month, 30,000 units (direct materials 80% and conversion 50% complete) remain in work-in-process inventory.
Required Calculate each of the following amounts using weighted-average process costing.
1. Equivalent units of direct materials and conversion.
2. Unit costs of direct materials and conversion.
3. Cost of goods completed and transferred out during October.
4. Cost of the work-in-process inventory at October 31.
5. Check the most recent issue of The Wall Street Journal or go to www.federalreserve.gov/releases/H10/hist/ to learn the exchange rate between the U.S. dollar and the Chinese yuan.
Explanation
This question doesn’t have an expert verified answer yet, let Examlex AI Copilot help.
Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
