Question

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

Answer 1

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
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