Process COST

Help with #4

Answer #4 what is total value work in process.

Process Costing Information (Use for Task 11 only): The company started 8,762 tables in production. The normal spoilage rate is 1.2% of tables started. Inspection occurs when the tables are approximately 60% complete for all costs. Ending work in process has 90% of materials and 70% of direct labor and on average is 70% completed. There were 110 tables in beginning work in process. Round equivalent units to the nearest round number. 2. Determine equivalent units for the year. See the Company Information for additional information. Material Labor Overhead 110 Beginning Started Total to Account for: 8,762 8,872 110 66 66 66 Beginning Started/Completed Work In Process Normal Spoilage Abnormal Spoilage Total Accounted for: 6,210 2,447 105 6,210 2,201 95 6,210 1,712 74 6,210 1,712 74 0 8,062 8,872 8,572 8,062 4. Value Finished Goods and Work in Process: Finished Goods 0 0 Beginning Units + Started and Completed = Total Units Completed x Total Cost for 1 Eq. Unit = Cost of Completed Units 0 0.00 SO 0 Normal Spoiled Eq. Units x Total Cost for 1 Eq. Unit = Cost of Normal Spoilage 0.00 SO Total Cost of Finished Goods: SO Divided by Tables Made = Average Cost per Table NaN Work In Process: Direct Material Eq. Units x Total Cost for 1 Eq. Unit = Cost of Equivalent Units $0.00 Direct Labor Eq. Units x Total Cost for 1 Eq. Unit = Cost of Equivalent Units $0.00 Manufacturing OH Eq. Units x Total Cost for 1 Eq. Unit = Cost of Equivalent Units $0.00 Total Value of Work In Process: SO 3. Compute the cost per equivalent unit for material, labor, and overhead. Round the cost per equivalent unit to 2 decimals. Material Labor Overhead Total Cost / Equivalent Unit 1,524,939 8,572 595,933 8,062 369,194 10,550 Cost per Equivalent Unit: $177.90 $73.92 $34.99 Total Cost for 1 Equivalent Table $286.81