Transcribed Image Text: Question : Trendy Clothing, Inc. is amanufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses

Academic Writing accounting, business-managerial-accounting Transcribed Image Text: Question : Trendy Clothing, Inc. is amanufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses

accounting, business-managerial-accounting

Transcribed Image Text: Question : Trendy Clothing, Inc. is amanufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses

Transcribed Image Text: Question : Trendy Clothing, Inc. is amanufacturer of winter clothes. It has a knitting department and a
finishing department. This exercise focuses on the finishing department Direct matenials are added at the
end of the process. Conversion costs are added evenly during the process. Trendy uses the
weighted average method of process costing. The following infomation for June 2017 is available.
Home Insert Page Layout Formulas,
Data
Review
View
Physical Units Transferred-in
Direct
Conversion
Costs
(tons)
Costs
Materials
$24.000
2 Work in process, beginning inventory (June 1)
Degree of completion, beginning work in process
4 Transferred-in during June
5 Completed and transferred out during June
6 Work in process, ending inventory (June 30)
7 Degree of completion, ending work in process
8 Total costs added during June
60
$ 60.000
100%
0%
50%
100
120
40
100%
$117.000
$27,000
0%
75%
$62,400
Required:
1. Calculate the Finished Department’s equivalent units of production for materials and
conversion in July using weighted average method.
2. Summarize total costs to account for and assign total costs to units completed and
transferred out, and to units in ending work in process.

Ready to try a high quality writing service? Get a discount here