ACCOUNT 249 Spring 2017 Chapter 4: Ubiquitous Widgets Graded Homework Assignment 15 points Due Date Monday, February 6, 2017: Sections 01, 03, 06, 07, 09, 10, 11 Tuesday, February 7, 2017: Sections 02, 04, 05, 08, 12 Assignment Learning Goals This a

ACCOUNT 249 

Spring 2017

Chapter 4:  Ubiquitous Widgets Graded Homework Assignment

15 points

Due Date

Monday, February 6, 2017:  Sections 01, 03, 06, 07, 09, 10, 11

Tuesday, February 7, 2017:  Sections 02, 04, 05, 08, 12

Assignment Learning Goals

This assignment is designed to help you learn how to:

1.Compute equivalent units of production using the weighted-average method.

2.Compute cost per equivalent unit using the weighted-average method

3.Assign costs to units using the weighted-average method.

Required

1.Read the information about Ubiquitous Widgets presented on page 2.

2.Use the calculation forms presented on pages 3 & 4 to organize the information you have been given.

3.Use concepts presented in Chapter 4 to make the calculations necessary to determine 

The costs of units completed and transferred during the most recent period.

The cost of units in ending WIP inventory at the end of the most recent period.

4.Enter the amounts you calculate onto the correct lines in the appropriate calculation forms on pages 3 & 4.  Be sure to enter labels as well as amounts for each entry you make.

Guidelines and Policies for Graded Assignments

1.Your assignment can be hand-written or computerized using Word or Excel.  However, you must present your answer using the forms presented on pages 3 and 4.  Five points will be deducted from your score if your answer is not presented using the T-accounts and forms presented on pages 3 and 4.

2.All assignments will be collected at the beginning of the class period in which the assignment is due.  

3.All assignments must be turned in during the class period in which they are due in order to receive full credit.  As stated in the course syllabus, grades will be reduced by 25% for assignments turned in by midnight of the day they are due.  No credit will be given for any assignment turned in after the day on which it is due unless the student discusses a specific situation with the instructor before the assignment is due.  

4.Be sure your name and section number is on the assignment you turn in.