Question: Ford Motor Company uses process costing for its engine assembly line. In March 2040, the following data is provided: Beginning Work-in-Process: 10,000 units (60% complete)

Ford Motor Company uses process costing for its engine assembly line. In March 2040, the following data is provided:

  • Beginning Work-in-Process: 10,000 units (60% complete)
  • Units Started: 40,000 units
  • Ending Work-in-Process: 5,000 units (40% complete)
  • Total Costs: $8,000,000

Requirements:

  • Calculate the equivalent units of production.
  • Determine the cost per equivalent unit.
  • Prepare a production cost report.
  • Analyze the impact of work-in-process inventory on costs.

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