Question 1 - Wk 3 - Practice: Costing Systems and Analysis [due Sat] - Connect XXXXXXXXXXSkip to main content XXXXXXXXXXWk 3 - Practice: Costing Systems and Analysis [due Sat] XXXXXXXXXXAnswer...

1 answer below »
I need the answers correctly answered.


Question 1 - Wk 3 - Practice: Costing Systems and Analysis [due Sat] - Connect Skip to main content Wk 3 - Practice: Costing Systems and Analysis [due Sat] Answer Saved Help opens in a new window Save & Exit Submit Submit Item 1 20 points Item Skipped eBook eBook Hint Hint Print Print References References Check my work Check My Work button is now enabled Check my work Check My Work button is now enabled Item 1 Zachary Ski Company manufactures snow skis. During the most recent accounting period, the company’s finishing department transferred 4,000 sets of skis to finished goods. At the end of the accounting period, 480 sets of skis were estimated to be 60 percent complete. Total product costs for the finishing department amounted to $321,600. Required Determine the cost per equivalent. Determine the cost of the goods transferred out of the finishing department. Determine the cost of the finishing department’s ending work in process inventory. Prev Question 1 of 1 Total 1 of 1 Visit question map This is the last question in the assignment. To submit, use Alt + S. To access other questions, proceed to the question map button. Next Next
Answered 1 days AfterMar 27, 2021

Answer To: Question 1 - Wk 3 - Practice: Costing Systems and Analysis [due Sat] - Connect XXXXXXXXXXSkip to...

Bhavani answered on Mar 28 2021
151 Votes
Process costing:
a) Determine the cost per equivalent.
Unit completed and transferred
4000
Add:
Ending WIP
Completed 480 * 60/100 = 288
_________
Equivalent units 4288
Cost per equivalent = Total cost of the product / Equivalent units
=$321,600 / 4288
=$75
b) Determine the cost of the...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here