Xi Corporation Produces a Product That Passes Through Two Departments

question 74

Essay

Xi Corporation produces a product that passes through two departments.For July,the following equivalent unit schedule was prepared for the first department:
$\begin{array}{lcc}&\text { Materials}&\text { Conversion }\\\text { Units completed } & 180,000 & 180,000 \\\text { Units, EWIP fraction complete: } & & \\10,000 \times 100 \% & 15,000 & \\10,000 \times 40 \% &-- &6,000\\\text { Equivalent units of output }&195,000&186,000\end{array}$
$\begin{array}{llr}\text { Costs assigned to beginning work in process: }\\ \text { Materials:} &\$51,000\\ \text { Conversion} &\$24,750\\\\ \text { Manufacturing costs incurred during the month: } &\\ \text { Materials:} &\$56,250\\ \text { Conversion} &\$45,000\end{array}$

a.Compute the unit cost for July using the weighted average method.
b.Determine the cost of goods transferred out.
c.Determine the cost of ending work in process.

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Definitions:

Chi-square Statistic

A measure used in statistics to evaluate how well observed data fit expected outcomes under a specific hypothesis, often related to categorical data.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution.

Total N

In statistical contexts, it refers to the total number of observations or data points in a study or analysis.