Question

In: Accounting

Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...

  1. Cost of Units Completed and in Process

    The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.

    Work in Process—Assembly Department
    Bal., 3,000 units, 75% completed 9,450 To Finished Goods, 69,000 units ?
    Direct materials, 71,000 units @ $1.8 127,800
    Direct labor 93,700
    Factory overhead 36,450
    Bal., ? units, 35% completed ?

    Cost per equivalent units of $1.80 for Direct Materials and $1.90 for Conversion Costs.

    a. Based on the above data, determine the different costs listed below.

    If required, round your interim calculations to two decimal places.

    1. Cost of beginning work in process inventory completed this period $
    2. Cost of units transferred to finished goods during the period $
    3. Cost of ending work in process inventory $
    4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) $

    b. Did the production costs change from the preceding period?
    yes or no

    c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period? decrease increase or remain the same

Solutions

Expert Solution

UNITS TO ACCOUNT FOR:
Beginning Work in Process units 3,000
Add: Units Started in Process 71,000
Total Units to account for: 74,000
UNITS TO BE ACCOUNTED FOR:
Units completed from beginning WIP 3000
Units started and completed 66,000
Ending Work in Process 5,000
Total Units to be accounted for: 74,000
Equivalent Units:
UNITS Material Cost Conversion
% Completion Units % Completion Units
Units completed from Beg. 3000 0% 0 25% 750
Units started and completed 66000 100% 66,000 100% 66,000
Ending Work in Process 5000 100% 5,000 35% 1,750
Total Equivalent units 74000 71,000 68,500
TOTAL COST TO ACCOUNT FOR:
Material Conversion
Cost Added during May 1,27,800 1,30,150
Total Cost to account for: 1,27,800 1,30,150
Equivalent Units 71,000 68,500
Cost per Equivalent unit 1.8 1.9
TOTAL COST ACCOUNTED FOR:
Units completed from Beg. Wip (3000 units)
Equivalent unit Cost per EU Total Cost
Cost of beginning WIP 9450
Material 0 1.8 0
Conversion Cost 750 1.9 1425
Total cost to complete beginning WIP 10875
Units started and completed (66000 units)
Equivalent unit Cost per EU Total Cost
Material 66,000 1.8 118800
Conversion Cost 66,000 1.9 125400
Total cost of units started and complted 244200
Total cost of units transferred out 255075
Ending Work in process (5000 units)
Equivalent unit Cost per EU Total Cost
Material 5,000 1.8 9000
Conversison Cost 1,750 1.9 3325
Total cost of Ending Work in process: 12,325
Total cost accounted for 2,67,400
Req 1.
Cost of beginning WIP inventory completed this period: 1425
Req 2.
Cost of Units transferred to FG: 255075
Req 3.
Cost of Ending WIP: 12325
Req 4.
Total cost of Beginning WIP 10875
Divide: Units 3000
Cost per unit of beginning WIP 3.625

Related Solutions

Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 9,000 units, 65% completed 31,635 To Finished Goods, 207,000 units ? Direct materials, 212,000 units @ $1.5 318,000 Direct labor 492,900 Factory overhead 191,685 Bal. ? units, 45% completed ? a. Based on the above data, determine the...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 7,000 units, 70% completed 28,210 To Finished Goods, 161,000 units ? Direct materials, 165,000 units @ $2 330,000 Direct labor 363,100 Factory overhead 141,270 Bal. ? units, 60% completed ? a. Based on the above data, determine the...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 70% completed16,140To Finished Goods, 138,000 units? Direct materials, 141,000 units @ $1.5211,500   Direct labor178,700   Factory overhead69,430   Bal., ? units, 45% completed?   Cost per equivalent units of $1.50 for Direct Materials and $1.80 for Conversion Costs. a....
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 75% completed 25,500 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.7 239,700 Direct labor 372,400 Factory overhead 144,860 Bal. ? units, 70% completed ? a. Based on the above data, determine the...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 7,000 units, 45% completed 16,660 To Finished Goods, 161,000 units ? Direct materials, 165,000 units @ $1.3 214,500 Direct labor 306,800 Factory overhead 119,340 Bal., ? units, 55% completed ? Cost per equivalent units of $1.30 for Direct...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 70% completed16,140To Finished Goods, 138,000 units? Direct materials, 141,000 units @ $1.5211,500   Direct labor178,700   Factory overhead69,430   Bal., ? units, 45% completed?   Cost per equivalent units of $1.50 for Direct Materials and $1.80 for Conversion Costs. a....
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 2,000 units, 75% completed 10,000 To Finished Goods, 46,000 units ? Direct materials, 47,000 units @ $2 94,000 Direct labor 139,600 Factory overhead 54,330 Bal. ? units, 20% completed ? a. Based on the above data, determine the...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 35% completed 13,590 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.6 225,600 Direct labor 200,200 Factory overhead 77,900 Bal. ? units, 35% completed ? Cost per equivalent units of $1.60 for Direct...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 7,000 units, 65% completed 24,150 To Finished Goods, 161,000 units ? Direct materials, 165,000 units @ $1.5 247,500 Direct labor 380,700 Factory overhead 148,100 Bal. ? units, 80% completed ? Cost per equivalent units of $1.50 for Direct...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 2,000 units, 55% completed 5,420 To Finished Goods, 46,000 units Direct materials, 47,000 units @ $1.5 70,500 Direct labor 79,700 Factory overhead 30,940 Bal. ? units, 40% completed ? Cost per equivalent units of $1.50 for Direct Materials...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT