The following data pertain to the Vesuvius Tile Company for July. Work In process, July 1 (in

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The following data pertain to the Vesuvius Tile Company for July.

Work In process, July 1 (in units) .................................................................. 20,000

Units started during July ......................................................................................... ?

Total units to account for .............................................................................. 65000

Units completed and transferred out during July ............................................... ?

Work In process, July 31 (in units) ................................................................ 15,000

Total equivalent units: direct material ........................................................ 65,000

Total equivalent units: conversion ....................................................................... ?

Work in process, July 1: direct material .................................................. $164,400

Work in process, July 1: conversion ..................................................................... ?

Costs incurred during July: direct material ......................................................... ?

Costs incurred during July: conversion ................................................... 659,400

Work in process, July 1: total cost ............................................................ 244,200

Total costs incurred during July ............................................................ 1,031,250

Total costs tc account for ...................................................................... 1,275,450

Cost per equivalent unit: direct material ..................................................... 8.25

Cost per equivalent unit: conversion ................................................................. ?

Total cost per equivalent unit ...................................................................... 21.45

Cost of goods completed and transferred out during July ............................. ?

Cost remaining in ending work-in-process inventory: died material ............ ?

Cost remaining in ending work in process inventory: conversion ....... 79,200

Total cost of July 31 work in process ...................................................... 202,950

Additional Information:

a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process.

b. The company uses weighted-average process costing.

c. The July 1 work in process was 30 percent complete as to conversion.

d. The July 31 work in process was 40 percent complete as to conversion.


Required: Compute the missing amounts, and prepare the firm’s July production report.

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Managerial Accounting

ISBN: 9780073022857

7th Edition

Authors: Ronald W Hilton

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