Question

In: Accounting

Department G had 2,280 units 25% completed at the beginning of the period, 13,700 units were...

Department G had 2,280 units 25% completed at the beginning of the period, 13,700 units were completed during the period, 1,900 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $26,100 Costs added during period: Direct materials (13,320 units at $8) 106,560 Direct labor 72,000 Factory overhead 24,000 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 2,280 units of beginning inventory which were completed during the period is (do not round unit cost calculations) $26,100 $40,151 $35,821 $38,251

Solutions

Expert Solution

Solution:

Department G
Computation of Equivalent unit (FIFO)
Particulars Physical units Material Conversion
Units to be accounted for:
Beginning WIP Inventory 2280
Units started this period 13320
Total unit to be accounted for 15600
Units Accounted for:
Units completed and transferred out
From beginning inventory
Material - 0%
Conversion - 75%
2280 0 1710
Started and completed currently 11420 11420 11420
Transferred to finished goods 13700 11420 13130
Units in ending WIP
Material - 100%
Conversion - 20%
1900 1900 380
Total units accounted for 15600 13320 13510
Department G
Computation of Cost per Equivalent unit
Particulars Total cost Material Conversion
Current period cost $202,560.00 $106,560.00 $96,000.00
Equivalent units 13320 13510
Cost per equivalent unit $8.00 $7.105848

Total cost of 2,280 units of beginning inventory which were completed during the period is = $26,100 + (1710*$7.105848) = $38,251

Hence last option is correct.


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