Edwards Company Had a Beginning Work-In-Process Inventory of 30,000 Units

question 62

Essay

Edwards Company had a beginning work-in-process inventory of 30,000 units on June 1. These units contained $120,000 of direct materials and $272,000 of conversion costs. The following data relate to activity during June:
$\begin{array} { l r } \text { Production completed (units) } & 70,000 \\\text { Ending work in process, } 60 \% \text { complete (units) } & 20,000 \\\text { Direct materials used (\$) } & 258,000 \\\text { Conversion costs } ( \$ ) & 695,600\end{array}$ Edwards uses a weighted-average process-costing system. All materials are added at the start of manufacturing; in contrast, conversion costs are incurred evenly throughout the production process.
Required:
A. Compute the total equivalent units for direct material and conversion cost.
B. Compute the cost per equivalent unit of direct material and conversion cost.
C. Determine the cost of completed production.
D. Determine the cost of the June 30 work in process.

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Definitions:

Neurotransmission

The process by which signals or messages are transmitted through the nervous system by neurons, using chemical substances known as neurotransmitters.

Graded Potential

A shift in the electrical charge across a neuron's membrane, varying in magnitude and not following the all-or-nothing principle.

Excitatory Postsynaptic Potential

A temporary increase in postsynaptic membrane potential due to the flow of positively charged ions into the postsynaptic cell, making it more likely for the neuron to fire an action potential.

Postsynaptic Neuron

A neuron that receives a signal (via neurotransmitter molecules) from another neuron at a synapse.