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1. Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit...

1. Cost of Units Transferred Out and Ending Work in Process

The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $2.00 and $2.90, respectively. The equivalent units to be assigned costs are as follows:

Equivalent Units
Direct Materials Conversion
Inventory in process, beginning of period 0 4,800
Started and completed during the period 68,000 68,000
Transferred out of Filling (completed) 68,000 72,800
Inventory in process, end of period 4,000 1,200
Total units to be assigned costs 72,000 74,000

The beginning work in process inventory had a cost of $3,220. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.

Completed and transferred-out production $______
Inventory in process, ending $______

Solutions

Expert Solution

1. Determine the cost of completed and transferred out production and the ending work in process inventory.
Particulars Direct material costs (a) Conversion costs (b) Total costs (a) + (b)
Inventory in process,Balance 3220
Inventory in process ,beginning of period 0 13920 13920
cost of completed beginning work-in-progress 17140
started and completed during the period 136000 197200 333200
Transferred out of filing (Completed ) 350340
Inventory in process ,end of period 8000 3480 11480
Total cost assigned by the filling dept. 361820
Completed and transferred - out production 350340
Inventory in Process ,ending 11480
working notes:
1. calculate beginning inventory process of conversion costs is:
Beginning inventory process of conversion costs = Beginning inventory units * conversion cost per unit

ekkarill92 answered 6 months ago
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