Question

Montreal Manufacturing Inc. has the following cost and production data for the month of April. Beginning WIP 16,000 units Started in production 100,000 Completed production 90,000 Ending WIP 26,000 The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of April are as follows: Beginning inventory costs are:      Materials $63,000      Direct labour 18,000      Factory overhead 13,000 Costs incurred during April include:      Materials $520,000      Direct labour 190,000      Factory overhead 354,800

Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method. Materials Conversion costs Total equivalent units Calculate the unit costs for the month. (Round unit cost to 3 decimal places, e.g. 15.256.) Unit costs Materials $ Conversion costs $ Total $ Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.) Total Materials Conversion Beginning Inventory $ $ $ Complete beginning WIP Started and completed Cost for units transferred out $ $ $ Ending work in process Total costs $ $ $

Answer 1

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