Homework: Week #3 Chapter #5 Score: 0 of 1 pt E20-18 (similar to) Save 2 of 6 (3
ID: 2329625 • Letter: H
Question
Homework: Week #3 Chapter #5 Score: 0 of 1 pt E20-18 (similar to) Save 2 of 6 (3 complete)Y HW Score: 50%, 3 of 6 pts Question Help Williams Company has the following data for the Assembly Department for August EB (Click the icon to view the data.) Conversion costs are added evenly throughout the process. Compute the equivalent units of productio independent scenario E (Click the icon to view the scenarios.) n for direct materials and conversion costs for each Scenario 1. Units in process at the beginning of August beginning of the process. are 30% complete, units in process at the end of August are 10% complete, materials are added at the Williams Company Production Cost Report- Assembly Department (Partial) Month Ended August 31 Equivalent Units Whole Transferred DirectConversion In Materials l Costs Units UNITS Units accounted for 2800 n/a 28 2800 Completed and transferred out 100) 100][ 60] na Ending work-in-process n/a Total units accounted forExplanation / Answer
Units
Reconciliation of Units
A
Opening WIP
400
B
Introduced
2,500
C=A+B
TOTAL
2,900
D
Transferred
2,800
E=C-D
Closing WIP
100
Scenario 1
Statement of Equivalent Units
Cost Transferred
Material
Conversion Cost
Units
Complete %
Equivalent units
Complete %
Equivalent units
Complete %
Equivalent units
Transferred
2,800
n/a
n/a
100%
2,800
100%
2,800
Closing WIP
100
n/a
n/a
100%
100
10%
10
Total
2,900
n/a
n/a
Total
2,900
Total
2,810
Scenario 2
Statement of Equivalent Units
Cost Transferred
Material
Conversion Cost
Units
Complete %
Equivalent units
Complete %
Equivalent units
Complete %
Equivalent units
Transferred
2,800
n/a
n/a
100%
2,800
100%
2,800
Closing WIP
100
n/a
n/a
100%
100
90%
90
Total
2,900
n/a
n/a
Total
2,900
Total
2,890
Scenario 3
Statement of Equivalent Units
Cost Transferred
Material
Conversion Cost
Units
Complete %
Equivalent units
Complete %
Equivalent units
Complete %
Equivalent units
Transferred
2,800
n/a
n/a
100%
2,800
100%
2,800
Closing WIP
100
n/a
n/a
10%
10
10%
10
Total
2,900
n/a
n/a -
Total
2,810
Total
2,810
Scenario 4
Statement of Equivalent Units
Cost Transferred
Material
Conversion Cost
Units
Complete %
Equivalent units
Complete %
Equivalent units
Complete %
Equivalent units
Transferred
2,800
n/a
n/a
100%
2,800
100%
2,800
Closing WIP
100
n/a
n/a
90%
90
90%
90
Total
2,900
n/a
n/a
Total
2,890
Total
2,890
When materials are added at the beginning of the year then it is taken as units are complete 100% as for material, but when materials are added at the end of period then it is assumed that units as of material are also incomplete just like conversion because if materials are added at end then it cannot be more than conversion cost since material is added only after conversion(labor) cost id incurred.
Units
Reconciliation of Units
A
Opening WIP
400
B
Introduced
2,500
C=A+B
TOTAL
2,900
D
Transferred
2,800
E=C-D
Closing WIP
100
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