Kramer Corp. has the following information: Beginning WIP inventory had 15,300 units that were 100%...

 

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Kramer Corp. has the following information: • Beginning WIP inventory had 15,300 units that were 100% complete as to materials and 70% complete as to conversion. 61,300 units were started into production during this period. Ending WIP had 11,800 units. (80% complete for materials: 40% complete for conversion) Cost of Beginning Inventory was $46,400 for Direct Materials and $23,100 for Conversion During the period, Kramer added $191,740 in direct materials, and $145,000 in Conversion. • . . WIP (UNITS) a. How many units were completed and transferred to Finished Goods? (1 Mark) b. Using the Weighted Average Method, calculate equivalent units. (8 Marks) Materials • Units Complete & Transferred Out WIP (S DOLLARS) • Work in Process (ENDING balance) % % Total Equivalent Units Conversic c. Calculate cost per equivalent unit. (Round to 2 decimal places) (6 Marks) Materials Conversion Cost per Equivalent Unit d. Calculate the cost of Ending WIP inventory and the cost of units Transferred Out: (6 Marks) Cost of Ending WIP inventory Cost of units Transferred OUT Materials Conversion Total Kramer Corp. has the following information: • Beginning WIP inventory had 15,300 units that were 100% complete as to materials and 70% complete as to conversion. 61,300 units were started into production during this period. Ending WIP had 11,800 units. (80% complete for materials: 40% complete for conversion) Cost of Beginning Inventory was $46,400 for Direct Materials and $23,100 for Conversion During the period, Kramer added $191,740 in direct materials, and $145,000 in Conversion. • . . WIP (UNITS) a. How many units were completed and transferred to Finished Goods? (1 Mark) b. Using the Weighted Average Method, calculate equivalent units. (8 Marks) Materials • Units Complete & Transferred Out WIP (S DOLLARS) • Work in Process (ENDING balance) % % Total Equivalent Units Conversic c. Calculate cost per equivalent unit. (Round to 2 decimal places) (6 Marks) Materials Conversion Cost per Equivalent Unit d. Calculate the cost of Ending WIP inventory and the cost of units Transferred Out: (6 Marks) Cost of Ending WIP inventory Cost of units Transferred OUT Materials Conversion Total