Initial inventory consisted of the following costs: materials, $22.989; and the conversion cost is $10,864. Costs added
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Question:
Initial inventory consisted of the following costs:
materials, $22.989; and the conversion cost is $10,864.
Costs added during the month consisted of:
materials, $74,928; and the conversion cost is $35,500.
Required
1. What were the equivalent units for the month?
2. What were the equivalent per unit costs for the month?
3. How many of units transferred to the next department were started and completed within the month?
Units to be calculated: | |
Work in progress, April 1 (materials 90% complete; conversion 80% complete) | 9.700 |
Production started | 31.900 |
Total units to be calculated | 41.600 |
Units are accounted for as follows: | |
Transferred to the next department | 27.600 |
Work in progress, April 30 (materials 75% complete; conversion 50% complete) | 14.000 |
Calculated total units | 41.600 |
Cost Settlement | ||
Cost to be calculated: | ||
Work in progress, April 1 | $ | 33.853 |
Added cost during the month | 110.428 | |
Total cost to be calculated | $ | 144.281 |
The cost is accounted for as follows: | ||
Work in progress, April 30 | $ | 36.365 |
Transferred to the next department | 107.916 | |
Calculated total cost | $ | 144.281 |
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