In: Accounting
| 
 Units  | 
||
| 
 Reconciliation of Units  | 
||
| 
 A  | 
 Opening WIP  | 
 850  | 
| 
 B  | 
 Introduced  | 
 6,000  | 
| 
 C=A+B  | 
 TOTAL  | 
 6,850  | 
| 
 D  | 
 Transferred  | 
 5,250  | 
| 
 E=C-D  | 
 Closing WIP  | 
 1,600  | 
Requirement 1
| 
 Statement of Equivalent Units  | 
|||||
| 
 Material  | 
 Conversion Cost  | 
||||
| 
 Units  | 
 Complete %  | 
 Equivalent units  | 
 Complete %  | 
 Equivalent units  | 
|
| 
 Transferred  | 
 5,250  | 
 100%  | 
 5,250  | 
 100%  | 
 5,250  | 
| 
 Closing WIP  | 
 1,600  | 
 50%  | 
 800  | 
 20%  | 
 320  | 
| 
 Total  | 
 6,850  | 
 Total  | 
 6,050  | 
 Total  | 
 5,570  | 
| 
 Material  | 
 Conversion  | 
|
| 
 Equivalent Units of Production  | 
 6,050  | 
 5,570  | 
Requirement 2
| 
 Cost per Equivalent Units  | 
|||
| 
 COST  | 
 Material  | 
 Conversion Cost  | 
 TOTAL  | 
| 
 Beginning WIP Inventory Cost  | 
 $ 985.00  | 
 $ 572.00  | 
 $ 1,557.00  | 
| 
 Cost incurred during period  | 
 $ 28,660.00  | 
 $ 17,809.00  | 
 $ 46,469.00  | 
| 
 Total Cost to be accounted for  | 
 $ 29,645.00  | 
 $ 18,381.00  | 
 $ 48,026.00  | 
| 
 Total Equivalent Units  | 
 6,050  | 
 5,570  | 
|
| 
 Cost per Equivalent Units  | 
 $ 4.90  | 
 $ 3.30  | 
|
| 
 Material  | 
 Conversion  | 
|
| 
 Cost per equivalent Unit  | 
 $ 4.90  | 
 $3.30  | 
Requirement 3
| 
 Statement of cost  | 
|||||
| 
 Cost  | 
 Equivalent Cost/unit  | 
 Ending WIP  | 
 Transferred  | 
||
| 
 Units  | 
 Cost Allocated  | 
 Units  | 
 Cost Allocated  | 
||
| 
 Material  | 
 $ 4.90  | 
 800  | 
 $ 3,920.00  | 
 5,250  | 
 $ 25,725.00  | 
| 
 Conversion Cost  | 
 $ 3.30  | 
 320  | 
 $ 1,056.00  | 
 5,250  | 
 $ 17,325.00  | 
| 
 TOTAL  | 
 $ 4,976.00  | 
 TOTAL  | 
 $ 43,050.00  | 
||
| 
 Material  | 
 Conversion  | 
 Total  | 
|
| 
 Cost of Units Completed and Transferred out  | 
 $ 25,725.00  | 
 $ 17,325.00  | 
 $ 43,050.00  | 
| 
 Cost of ending Inventory  | 
 $ 3,920.00  | 
 $ 1,056.00  | 
 $ 4,976.00  |