Question

In: Accounting

Data concerning a recent period’s activity in the Assembly Department, the first processing department in a...

Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below:

Materials Conversion
Cost of work in process inventory at the beginning of the period $ 3,200 $ 700
Equivalent units in the ending work in process inventory 410 160
Equivalent units required to complete the beginning work in process inventory 540 1,280
Cost per equivalent unit for the period $ 3.10 $ 0.70

A total of 25,000 units were completed and transferred to the next processing department during the period. Beginning work in process inventory consisted of 1,300 units and ending work in process inventory consisted of 2,800 units.

Required:

1. Compute the Assembly Department's cost of ending work in process inventory for materials, conversion, and in total for the period.

2. Compute the Assembly Department's cost of units transferred out to the next department for materials, conversion, and in total for the period.

Materials Conversion Total
1. Cost of ending work in process inventory
2. Cost of the units transferred to the next department

Solutions

Expert Solution


Related Solutions

Data concerning a recent period’s activity in the Assembly Department, the first processing department in a...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below: Materials Conversion Cost of work in process inventory at the beginning of the period $ 3,200 $ 650 Equivalent units in the ending work in process inventory 400 200 Equivalent units required to complete the beginning work in process inventory 600 1,200 Cost per equivalent unit for the period $ 2.32 $...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below: Materials Conversion Cost of work in process inventory at the beginning of the period $ 3,900 $ 730 Equivalent units in the ending work in process inventory 470 230 Equivalent units required to complete the beginning work in process inventory 660 1,240 Cost per equivalent unit for the period $ 2.30 $...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses process costing, appear below: Materials Conversion   Cost of work in process inventory at the beginning of the period $ 3,200          $ 630           Equivalent units of production in the ending work in process inventory 420          140           Equivalent units of production required to complete the beginning work      in process inventory 690          1,240           Cost per equivalent unit for...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below: Materials Conversion Cost of work in process inventory at the beginning of the period $ 3,500 $ 670 Equivalent units in the ending work in process inventory 420 200 Equivalent units required to complete the beginning work in process inventory 510 1,230 Cost per equivalent unit for the period $ 1.70 $...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a...
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below: Materials Conversion Cost of work in process inventory at the beginning of the period $ 2,600 $ 570 Equivalent units in the ending work in process inventory 350 130 Equivalent units required to complete the beginning work in process inventory 530 1,130 Cost per equivalent unit for the period $ 1.60 $...
Exercise 5S-3 Assigning Costs to Units-FIFO Method [LO5S-8] Data concerning a recent period’s activity in the...
Exercise 5S-3 Assigning Costs to Units-FIFO Method [LO5S-8] Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below: Materials Conversion Cost of work in process inventory at the beginning of the period $ 3,200 $ 650 Equivalent units in the ending work in process inventory 400 200 Equivalent units required to complete the beginning work in process inventory 600 1,200 Cost per...
Metal Corporation uses a process costing system. Data concerning the first processing department for the most...
Metal Corporation uses a process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work-in-process inventory: Units in beginning work-in-process inventory 1,200 Materials costs $ 9,120 Conversion costs $ 15,840 Percent complete with respect to materials 40 % Percent complete with respect to conversion 30 % Units started into production during the month 8,000 Materials costs added during the month $ 120,800 Conversion costs added during the month $ 284,000 Ending work-in-process...
The debits to Work in Process—Assembly Department for April, together with data concerning production, are as...
The debits to Work in Process—Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,500 Conversion costs, 3,000 units, 80% completed 6,000 Materials added during April, 10,000 units 29,000 Conversion costs during April 35,000 Goods finished during April, 11,500 units — April 30 work in process, 1,500 units, 60% completed — All direct materials are placed in process at the beginning of the process, and the average...
The debits to Work in Process--Assembly Department for April, together with data concerning production, are as...
The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: Work in process, April 1, 3,000 units: Direct materials cost, for 3,000 units $ 7,200 Conversion costs, for 3,000 units, 60% completed $ 6,000 Direct materials added during April, 10,000 units $ 25,000 Conversion costs during April $ 35,750 Goods finished during April, 12,000 units --- April 30 work in process, 1,000 units, 40% completed --- All direct materials are placed in process...
The debits to Work in Process—Assembly Department for May, together with data concerning production, are as...
The debits to Work in Process—Assembly Department for May, together with data concerning production, are as follows: May 1, work in process:    Materials cost, 3,000 units $7,000    Conversion costs, 3,000 units, 50% completed 5,300    Materials added during May, 10,000 units 27,600    Conversion costs during May 33,200    Goods finished during May, 11,500 units 0    May 31 work in process, 1,500 units, 50% completed 0 All direct materials are placed in process at the beginning of the process and the first-in, first-out...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT