ACCT 344 Week 2 Homework
1. Questions: Kali Manufacturing Inc. began the year with the following. Beginning work-in-process 20,000 20% complete
Transferred to finished goods 60,000
Ending inventory 10,000 70% complete
Materials added at the beginning of the process
Required: Calculate the equivalent units for
a. material costs under the weighted average process cost method;
b. conversion costs under the weighted average process cost method;
c. material costs under the FIFO process cost method; and
d. conversion costs under the FIFO process cost method.
2. Questions:Glass Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for the current month are as follows…………………………Required Prepare a cost of production report for current month. Use Weighted Average process costing.