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28 Sep 2019
Zeus Corporation produces cultured diamonds via a secretiveprocess that grows the diamonds in a vacuum chamber filled with acarbon gas cloud. The diamonds are produced in a single continuousprocess, and Zeus uses the weighted-average process costing methodof accounting for production. Below is the company's calculation ofcost per equivalent unit for October. During October, the companycompleted and transferred 8,000 diamonds to finished goods. Anadditional 4,000 units were still in process at the end of themonth. The ending work in process was 60% complete with respect todirect materials and 40% complete with respect to both elements ofconversion cost.
Zeus Corporation produces cultured diamonds via a secretiveprocess that grows the diamonds in a vacuum chamber filled with acarbon gas cloud. The diamonds are produced in a single continuousprocess, and Zeus uses the weighted-average process costing methodof accounting for production. Below is the company's calculation ofcost per equivalent unit for October. During October, the companycompleted and transferred 8,000 diamonds to finished goods. Anadditional 4,000 units were still in process at the end of themonth. The ending work in process was 60% complete with respect todirect materials and 40% complete with respect to both elements ofconversion cost.
Jean KeelingLv2
28 Sep 2019