Exercise 4-8_ Grand River Company_ weighted – average method
Train Four-8_ Grand River Company_ weighted - common methodology Grand River Firm produces a top quality insulation materials that passes by way of two manufacturing course of. Knowledge for November for the first course of follows: Items Completion with respect to Materials Conversion Work in course of stock, Nov. 1 80,000 50% 25% Work in course of stock, Nov. 30 60,000 45% 20% Materials price in Work in course of stock, Nov. 1 $76,600 Conversion price in Work in course of stock, Nov. 1 $34,900 Items began into manufacturing 300,000 Items transferred to the subsequent course of 320,000 Supplies price added throughout Nov. $410,000 Conversion price added throughout Nov. $234,500 Required: 1. Assume that the corporate makes use of the weighted - common methodology of accounting for items and prices. Decide the equal items for November for the primary course of. 2. Compute the prices per equal unit for November for the primary course of. three. Decide the overall prices of ending work in course of stock and the overall prices of items transferred to the subsequent course of in November.