Montreal Company has gathered the following information. Production and Manufacturing Costs Equivalent Units and Cost Information Cost
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Question:
Montreal Company has gathered the following information.
Equivalent Units and Cost Information | Cost & Completion % | |
---|---|---|
Units in beginning work in process | 5,000 | |
Units started into production | 75,000 | |
Units in ending work in process | 15,000 | |
Percent complete for conversion costs in ending work in process | 25% | |
Costs incurred: | ||
Direct materials | $160,000 | |
Direct labor | $105,000 | |
Overhead | $204,375 |
Materials are added at the beginning of the process, meaning 100% of the materials are allocated to Ending Work in Process.
Compute equivalent units of production for materials and for conversion costs.
- For units, they MUST be typed as a whole number, meaning it should NOT include any fractions or decimals. For example, if you answer is 100 units, you MUST type 100.
Materials | Conversion Costs | |
---|---|---|
The Equivalent Units of Production |
Determine the unit costs of production.
- Round unit costs to 2 decimal places, e.g. 2.25.
- When typing your responses, do NOT include a dollar sign.
Materials | Conversion Costs | |
---|---|---|
Unit Costs | $ | $ |
Show the assignment of costs to units transferred out and in process.
- Round your answer to 0 decimal places, e.g. 10,000.
- When typing your responses, do NOT include a dollar sign.
Transferred Out | $ |
---|---|
Ending Work in Process | $ |
Related Book For
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines
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