Winter Lips produces a lip balm used for cold-weather sports. The balm is manufactured in a single
Question:
Completed production for June totalled 15,200 units. The June 30 work in process was 40% of the way through the production process. Direct materials costing $4,080 were placed in production during June, and direct labour of $3,315 and manufacturing overhead of $1,005 were assigned to the process.
Requirements
1. Draw a time line for Winter Lips that is similar to Exhibit 5-6.
2. Use the time line to help you compute the total equivalent units and the cost per equivalent unit for June.
3. Assign total costs to (a) units completed and transferred to Finished Goods and (b) units still in process at June 30.
4. Prepare a T-account for Work in Process Inventory to show activity during June, including the June 30 balance.
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Related Book For
Managerial Accounting
ISBN: 978-0176223311
1st Canadian Edition
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
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