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Binding Company prints calendars.All direct materials are added at the inception of the printing process.There were 20,000 units in beginning inventory with a direct material cost of $1,000 and conversion costs of $3,760.
During the month of April,160,000 calendars were started and 144,000 calendars were completed.Direct materials cost $26,000 for the month of April.Conversion costs for the month of April were $20,000.
Ending work-in-process units are 100% complete with regard to direct materials and 40% complete with regard to conversion costs.The weighted-average method of process costing is used by Binding Company.
Required:
A)Compute the equivalent units for materials and conversion costs.
B)Compute the unit costs for materials and conversion costs.
C)Compute the cost of units transferred.
D)Compute the cost of ending work-in-process inventory.
Katsushika Hokusai
A renowned Japanese artist and printmaker of the Edo period, best known for his series of woodblock prints, "Thirty-Six Views of Mount Fuji," including "The Great Wave off Kanagawa."
Great Wave Off Kanagawa
A famous woodblock print by Japanese artist Hokusai, iconic for its dramatic depiction of a massive wave and Mount Fuji in the background.
Woodblock
A technique or the physical block used in woodblock printing, where designs are carved into wood to be inked and transferred to paper or fabric.
Engraving
A printmaking technique where an artist incises or cuts a design onto a hard surface, usually metal, to create a print.
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