Two Cost Accounting questions-21 March

$14.00

Description

  

1. Harmon Company uses the weighted average
method in its process costing system. The Curing Department of Harmon Company
reported the following information for the month of November.

Units

Percent
complete with respect to materials

Percentage
complete with respect to conversion

Work
in process, November 1

10,000

100%

80%

Units
started

28,000

Completed
and transferred out

30,000

Work
in process, November 30

8,000

100%

30%

Costs
for November

Materials

Conversion

Work in process, November 1

$34,500

$48,600

Added during the month

$146,000

$194,400

All materials are added at the beginning of the process.

Required: Compute the following items using the weighted average method.

i. The equivalent units of production for materials

ii. The cost per equivalent unit for conversion
iii. The total cost assigned to units transferred out of the curing department
during November
iv. The cost assigned to work in process inventory as of November 30

2. Hunsicker Corporation has provided the
following data for the month of January.

Inventories

Beginning

Ending

Raw
materials

$30,000

$33,000

Work
in process

$20,000

$18,000

Finished
goods

$52,000

$50,000

Additional
Information

Raw
material purchases

$63,000

Direct
labor costs

$92,000

Manufacturing
overhead cost incurred

$75,000

Indirect
materials included in manufacturing overhead costs incurred

$6,000

Manufacturing
overhead cost applied to work in process

$72,000

Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of
Goods Sold in good form.

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