The following data pertain to the galvanized steel department of Ontario Iron and Steel Works Inc. for
Question:
The following data pertain to the galvanized steel department of Ontario Iron and Steel Works Inc. for January 2020:
The metallic component is introduced at the start of the process, while the zinc and other chemical compounds are added when the product reaches an 80% stage of completion. Conversion costs are incurred uniformly throughout the process.
The ending work in process is 40% completed for conversion costs. None of the units in process reached the 80% stage of completion.
1. Compute the equivalent units and unit costs for January.
2. Compute the total cost of units completed and transferred to finished goods. Also compute the cost of the ending work in process.
Step by Step Answer:
Introduction To Management Accounting
ISBN: 9781292412566
17th Edition, Global Edition
Authors: Charles Horngren, Gary L Sundem, Dave Burgstahler