Broadline 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 April.
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 April 30 Work in Process Inventory.
Definitions:
Q3: What is the total cost of materials
Q46: What is the finished goods ending inventory
Q52: The allocation rate for materials handling will
Q119: The "total physical units to account for"
Q131: Sweet Stuff Bakery mass-produces cakes using three
Q132: Equivalent units should be computed separately for
Q146: What is the total cost of units
Q173: The allocation rate for packaging is<br>A) $5.28.<br>B)
Q257: In process costing, the manufacturing costs assigned
Q300: Manufacturing overhead has an underallocated balance of