Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for distribution to its retail sales department.Direct materials are added at the initiation of the cycle.Conversion costs are incurred evenly throughout the production cycle.Before inspection,some fillets are spoiled due to undetectable defects.Spoiled fillets generally constitute 4% of the good fillets.Data for April 2017 are as follows:

Costs for April:

What is the amount of direct materials and conversion costs assigned to ending work in process using the weighted-average process-costing method? (Round any cost per unit calculations to the nearest cent. )

Question

Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for distribution to its retail sales department.Direct materials are added at the initiation of the cycle.Conversion costs are incurred evenly throughout the production cycle.Before inspection,some fillets are spoiled due to undetectable defects.Spoiled fillets generally constitute 4% of the good fillets.Data for April 2017 are as follows:

Costs for April:

What is the amount of direct materials and conversion costs assigned to ending work in process using the weighted-average process-costing method? (Round any cost per unit calculations to the nearest cent. )

Costs for April:

What is the amount of direct materials and conversion costs assigned to ending work in process using the weighted-average process-costing method? (Round any cost per unit calculations to the nearest cent. )

Quizplus · Accepted Answer

11ea8a5a_a067_aca3_a19c_09ebb3a945d1_TB5540_00_TB5540_00_TB5540_00 * Equivalent unit calculations:
Direct Materials: 90,000 + 135,000 = 225,000 units
Conversion Costs: 189,000 + 10,000 + (26,000 x 25%)= 205,500 units
Total cost per equivalent unit = $1.95 + $2.38 = $4.33
Direct materials = 26,000 units × $1.95 = $50,700
Conversion costs = 26,000 units × 30% × $2.38 = $15,470

Fish Fillet Incorporated Obtains Fish and Then Processes Them into Frozen