In: Accounting
The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.50 and $0.10, respectively. The equivalent units to be assigned costs are as follows:
Direct Materials |
Conversion |
|||
Inventory in process, beginning of period | 0 | 3,300 | ||
Started and completed during the period | 56,980 | 56,980 | ||
Transferred out of Bottling (completed) | 56,980 | 60,280 | ||
Inventory in process, end of period | 3,990 | 2,500 | ||
Total units to be assigned costs | 60,970 | 62,780 |
The beginning work in process inventory had a cost of $3,330. Determine the cost of completed and transferred out production, and the ending work in process inventory.
Completed and transferred out production | $ |
Inventory in process, ending | $ |