In: Accounting
The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.80 and $0.20, respectively. The equivalent units to be assigned costs are as follows:
Equivalent Units | ||||
Direct Materials | Conversion | |||
Inventory in process, beginning of period | 0 | 2,650 | ||
Started and completed during the period | 55,430 | 55,430 | ||
Transferred out of Bottling (completed) | 55,430 | 58,080 | ||
Inventory in process, end of period | 3,160 | 2,600 | ||
Total units to be assigned costs | 58,590 | 60,680 |
The beginning work in process inventory had a cost of $3,640. Determine the cost of completed and transferred out production and the ending work in process inventory. Round answers to nearest whole dollar.
Completed and transferred out production | $ |
Inventory in process, ending | $ |
The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.