Beta Tools Ltd

question 72

Essay

Beta Tools Ltd. uses the weighted-average method of process costing. Materials are added at the beginning of the machining process and conversion costs are added evenly throughout the process. The following activity occurred in its Machining Department during November.
Units:
Costs:

Required
1. Summarize flow of physical units and compute total equivalent units for three cost categories: transferred-in, direct materials, and conversion costs.
2. Summarize total costs to account for and compute the cost per equivalent unit for each cost category.
3. Assign total costs to (a) units completed and transferred to Finished Goods Inventory and (b) units in November 30 Work in Process Inventory.

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Definitions:

ATP Synthesis

The biochemical process creating ATP (adenosine triphosphate), the primary energy carrier in cells, through cellular respiration or photosynthesis.

Glycolysis

The metabolic pathway that breaks down glucose to pyruvate, generating energy in the form of ATP and NADH, occurring in the cytoplasm of cells.

Pyruvate Molecules

Organic compounds that play a key role in metabolic pathways, particularly glycolysis, where glucose is broken down to produce energy.