Calendar Time Company prints calendars.All direct materials are included at the inception of the printing process.There were 20,000 units in beginning inventory with a direct material cost of $1,000 in March.Direct materials totalled $26,000 for the month.work-in-process records revealed that 160,000 calendars were started in March and that a total of 144,000 were completed.Ending work-in-process units are complete in respect to direct materials costs and contain no labour and overhead costs.The weighted-average method is used by Calendar Time.Required:
a.Determine the equivalent units of materials.
b.What are the material costs assigned to completed calendars?
c.What amount of materials is assigned to the ending work-in-process inventory?

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The Answer of Calendar Time Company prints calendars.All direct materials are included at the inception of the printing process.There were 20,000 units in beginning inventory with a direct material cost of $1,000 in March.Direct materials totalled $26,000 for the month.work-in-process records revealed that 160,000 calendars were started in March and that a total of 144,000 were completed.Ending work-in-process units are complete in respect to direct materials costs and contain no labour and overhead costs.The weighted-average method is used by Calendar Time.Required:
a.Determine the equivalent units of materials.
b.What are the material costs assigned to completed calendars?
c.What amount of materials is assigned to the ending work-in-process inventory?

Calendar Time Company Prints Calendars