Department A had 4,900 units in Work in Process that were 71% completed at the beginning...

Department A had 4,900 units in Work in Process that were 71% completed at the beginning of the period at a cost of $6,900. During the period, 38,200 units of direct materials were added at a cost of $84,040, and 40,700 units were completed. At the end of the period, 2,400 units were 35% completed. All materials are added at the beginning of the process. Direct labor was $27,000 and factory overhead was $4,900. The cost of the 2,400 units in process at the end of the period if the first-in, first-out method is used to cost inventories was

Expert Solution

All working forms part of the answer
Answer: Cost of 2400 units = $ 5,975

*Costs of Ending WIP:*	EUP	Cost per EUP	Total Cost
- Direct Materials	2,400	$ 2.2000	$ 5,280.00
- Conversion	840	$ 0.8275	$ 695.10
Total cost of ending WIP				$ 5,975.10 or $ 5975

Working

EUP - FIFO Method	Units	% Material	EUP Materials	% Conversion	EUP - Conversion
Units of ENDING WIP	2,400	100%	2,400	35%	840
Units STARTED & COMPLETED	35,800	100%	35,800	100%	35,800
Units of beginning WIP	4,900	0%	-	39.0%	1,911
Equivalent Units of Production			38,200		38,551

COST per EUP			Material		Conversion
Cost incurred this period			$ 84,040.00		$ 31,900.00
Total Costs		Costs	$ 84,040.00	Costs	$ 31,900.00
Equivalent units of production		EUP	38,200	EUP	38,551
Cost per EUP			$ 2.20000		$ 0.8275

ekkarill92 answered 1 year ago

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