Department G had 1,920 units 25% completed at the beginning of the period, 12,800 units were...

Department G had 1,920 units 25% completed at the beginning of the period, 12,800 units were completed during the period, 1,600 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period:

Work in process, beginning of period	$29,700
Costs added during period:
Direct materials (12,480 units at $8)	99,840
Direct labor	81,000
Factory overhead	27,000

All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 1,920 units of beginning inventory which were completed during the period (round unit cost calculations to four decimal places and round your final answer to the nearest dollar)?

a.$43,604

b.$42,004

c.$29,700

d.$39,543

Solutions

Expert Solution

Equivalent units of Production (EUP) - FIFO Method
	Units	%Materials	EUP-Materials	%Conversion	EUP-Conversion
Beginning work in process inventory-units	1920	0%	-	75%	1440
Units started and completed	10880	100%	10880	100%	10880
Ending work in process-units	1600	100%	1600	20%	320
Equivalent units of production			12480		12640
Cost per equivalent unit of production			Materials		Conversion
Costs incurred this period			$ 99840		$ 108000
Total costs		Costs	$ 99840	Costs	$ 108000
/Equivalent units of production		EUP	12480	EUP	12640
Cost per equivalent unit of production			$ 8.00		$ 8.5443038
Total costs accounted for:
Beginning inventory cost:				$ 29700
Cost to complete beginning inventory:	EUP	Cost per EUP	Total cost
Direct materials	-	$ 8.00	$ -
Conversion	1440	$ 8.5443038	$ 12304
Total cost to complete beginning inventory			$ 12304	$ 12304
Total cost of units in beginning inventory				$ 42004

Hence,correct option is (b) i.e., $ 42004

ekkarill92 answered 1 year ago

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