Question

In: Accounting

Crane Company has gathered the following information. Units in beginning work in process 0 Units started...

Crane Company has gathered the following information.

Units in beginning work in process 0
Units started into production 37,300
Units in ending work in process 8,200
Percent complete in ending work in process:
    Conversion costs 40 %
    Materials 100 %
Costs incurred:
    Direct materials $78,330
    Direct labor $66,500
    Overhead $105,114

Compute equivalent units of production for materials and for conversion costs.

Materials

Conversion Costs

The equivalent units of production

Determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.)

Materials

Conversion Costs

Unit costs

$

$

Show the assignment of costs to units transferred out and in process.

Units transferred out

$

Units in ending work in process

$

Solutions

Expert Solution

Beginning inventory is    0

Add: Units introduced =    37,300

Less: Work in process units = 8,200

Balance is the untis completed and transferred out = 29,100

Please go through the following attachment for remaining solution.


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