Eleby Company has gathered the following information.
Units in beginning work in process .. –0–
Units started into production ... 36,000
Units in ending work in process .... 6,000
Percent complete for conversion costs in
ending work in process ........ 40%
Costs incurred:
Direct materials ........... $72,000
Direct labor ........... $81,000
Overhead ........... $97,200
Instructions
(All materials added at the beginning of the process.)
(a) Compute equivalent units of production for materials and for conversion costs.
(b) Determine the unit costs of production.
(c) Show the assignment of costs to units transferred out and in process.