Hi tutor, I am struggling this with part of problems. hope you can resolve this. Thanks,

Hi tutor,

I am struggling this with part of problems. hope you can resolve this.

Thanks,

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Beginning work in process
Tanning
Finishing
Units
?
4,000
% Complete as to direct materials
100%
100%
% Complete as to conversion costs
40%
60%
Direct materials / Transferred in costs
$6,000
$7,000
Conversion costs
$18,000
$10,000
Current month production
Units started in production
?
?
Units completed and transferred out
16,000
18,000
Direct materials / Transferred in costs added
$18,000
?
Conversion costs added
$32,000
$19,000
Costs transferred out
$50,000
?
Ending work in process
Units
?
2,000
% Complete as to direct materials
100%
% Complete as to conversion costs
?
30%
Required:
A.
Using the weighted average method, prepare a units of production schedule for the
FINISHING department that details units to account for, units accounted for and equivalent
full units of production.
B.
Using the weighted average method, prepare a costs of production schedule for the
FINISHING department that details total costs to account for, costs per equivalent full unit of
production and total costs accounted for.
(Note:
there will be a small rounding difference in
the cost reconciliation)
You don’t solve for the “?”

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