Cullumber Company has several processing departments. Costs to be accounted for in the Assembly Department for November
Question:
Cullumber Company has several processing departments. Costs to be accounted for in the Assembly Department for November 2022 totaled $2,293,806 as follows.
Work in process, November 1
Materials $78,800
Conversion costs 49,000 $127,800
Direct materials added during November 1,599,280
Direct labor incurred during November 225,800
Manufacturing overhead assigned during November 340,926
$2,293,806
Production records show that 34,700 units were in beginning work in process 30% complete as to conversion costs, 664,500 units were started into production, and 25,100 units were in ending work in process 40% complete as to conversion costs. Materials are added at the beginning of each process, and conversion costs are incurred uniformly throughout the process.
Determine the assignment of costs to goods completed and transferred out and to work in process for November.
Costs accounted for:
Transferred out
$enter a dollar amount
Work in process, November 30
Materials
$enter a dollar amount
Conversion costs
enter a dollar amount
enter a subtotal of the two previous amounts
Total costs
$enter a total amount
Managerial Accounting Tools For Business Decision Making
ISBN: 9781119709589
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell