Griffin,Inc.manufactures units in two processes: Machining and Assembly.All direct materials are added at the beginning of the Machining process,while conversion costs are incurred evenly throughout the period for both Machining and Assembly.Goods completed in Machining are transferred to Assembly where they are completed and transferred to Finished Goods Inventory.Griffin's controller accumulated the following information about the units and costs incurred in the two processes for the current period:
Units:
Costs:
Required:
Using the weighted average method,determine the number of physical units:
a.transferred into Assembly during the period.
b.transferred from Machining to Assembly during the period.
c.started in Machining during the period.
Using the weighted average method,determine the number of equivalent units:
d.for direct materials for Machining.
e.for conversion for Machining.
f.for direct materials for Assembly.
g.for conversion for Assembly.
Using the weighted average method,determine the cost per equivalent unit (round to 5 decimals):
h.for direct materials for Assembly.
i.for conversion for Assembly.
Using the weighted average method,determine the total cost of (round to whole dollars,i.e. ,0 decimals):
j.materials in the goods transferred to Finished Goods Inventory.
k.conversion costs in the goods transferred to Finished Goods Inventory.
l.the goods transferred to Finished Goods Inventory.
m.materials in ending Work in Process Assembly.
n.conversion costs in ending Work in Process Assembly.
o.ending Work in Process Assembly.

Question

Griffin,Inc.manufactures units in two processes: Machining and Assembly.All direct materials are added at the beginning of the Machining process,while conversion costs are incurred evenly throughout the period for both Machining and Assembly.Goods completed in Machining are transferred to Assembly where they are completed and transferred to Finished Goods Inventory.Griffin's controller accumulated the following information about the units and costs incurred in the two processes for the current period:
Units:
  Costs:
  Required:
Using the weighted average method,determine the number of physical units:
a.transferred into Assembly during the period.
b.transferred from Machining to Assembly during the period.
c.started in Machining during the period.
Using the weighted average method,determine the number of equivalent units:
d.for direct materials for Machining.
e.for conversion for Machining.
f.for direct materials for Assembly.
g.for conversion for Assembly.
Using the weighted average method,determine the cost per equivalent unit (round to 5 decimals):
h.for direct materials for Assembly.
i.for conversion for Assembly.
Using the weighted average method,determine the total cost of (round to whole dollars,i.e. ,0 decimals):
j.materials in the goods transferred to Finished Goods Inventory.
k.conversion costs in the goods transferred to Finished Goods Inventory.
l.the goods transferred to Finished Goods Inventory.
m.materials in ending Work in Process Assembly.
n.conversion costs in ending Work in Process Assembly.
o.ending Work in Process Assembly.

Quizplus · Accepted Answer

The Answer of Griffin,Inc.manufactures units in two processes: Machining and Assembly.All direct materials are added at the beginning of the Machining process,while conversion costs are incurred evenly throughout the period for both Machining and Assembly.Goods completed in Machining are transferred to Assembly where they are completed and transferred to Finished Goods Inventory.Griffin's controller accumulated the following information about the units and costs incurred in the two processes for the current period:
Units:
  Costs:
  Required:
Using the weighted average method,determine the number of physical units:
a.transferred into Assembly during the period.
b.transferred from Machining to Assembly during the period.
c.started in Machining during the period.
Using the weighted average method,determine the number of equivalent units:
d.for direct materials for Machining.
e.for conversion for Machining.
f.for direct materials for Assembly.
g.for conversion for Assembly.
Using the weighted average method,determine the cost per equivalent unit (round to 5 decimals):
h.for direct materials for Assembly.
i.for conversion for Assembly.
Using the weighted average method,determine the total cost of (round to whole dollars,i.e. ,0 decimals):
j.materials in the goods transferred to Finished Goods Inventory.
k.conversion costs in the goods transferred to Finished Goods Inventory.
l.the goods transferred to Finished Goods Inventory.
m.materials in ending Work in Process Assembly.
n.conversion costs in ending Work in Process Assembly.
o.ending Work in Process Assembly.