Midlands Technical College Operations And Supply Chain Management Assignment Help - (TCO F) Miller Company

Question - (TCO F) Miller Company manufactures a product for which materials are added at the beginning of
the manufacturing process. A review of the company's inventory and cost records for the most
recently completed year revealed the following information:
work in process, Jan 1(80% complet units materials converstion
with respest to conversion cost .............100,00 $100,000 157,500
units started into production................ 5000,000
cost added during the year
materials..... $650,000
conversion...... $ 997,500
units completed during the yesr 450,000
The company uses the weighted-average cost method in its process costing system. The ending
inventory is 50% complete with respect to conversion costs.

Required:

i. Compute the eq ...Read More uivalent units of production and the cost per equivalent units for materials and for
conversion costs.

ii. Determine the cost transferred to finished goods.

iii. Determine the amount of cost that should be assigned to the ending work in process inventory. ...Read Less

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