Question

In: Accounting

Cost of Units Transferred Out and Ending Work in Process The The rate used to allocate...

Cost of Units Transferred Out and Ending Work in Process

The The rate used to allocate costs between completed and partially completed production.costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $2.15 and $2.40, respectively. The equivalent units to be assigned costs are as follows:

Equivalent Units
Direct Materials Conversion
Inventory in process, beginning of period 0 1,800
Started and completed during the period 36,000 36,000
Transferred out of Filling (completed) 36,000 37,800
Inventory in process, end of period 5,000 2,000
Total units to be assigned costs 41,000 39,800

The beginning work in process inventory had a cost of $1,220. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.

Completed and transferred-out production $
Inventory in process, ending $

Solutions

Expert Solution

Statement of Equivalent production
Particulars Direct Materials Conversion Total
Cost per Equivalent units                         2.15                        2.40
Transferred out of Filling (completed)              36,000.00              37,800.00
Cost of Transferred out of Filling (completed)              77,400.00              90,720.00               168,120.00
Beginning WIP                    1,220.00
Completed and transferred-out production               169,340.00
Ending WIP Units                5,000.00                2,000.00
Inventory in process, ending              10,750.00                4,800.00                 15,550.00

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $0.80 and $0.45, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, July 1 0 4,900 Started and completed during July 61,000 61,000 Transferred out of Rolling (completed) 61,000 65,900 Inventory in process, July 31 4,000 2,400 Total units to...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.80 and $2.70, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct MaterialsConversion Inventory in process, October 10 2,900 Started and completed during October48,000 48,000 Transferred out of Rolling (completed)48,000 50,900 Inventory in process, October 316,000 3,600 Total units to be assigned costs54,000 54,500 The beginning...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $2.15 and $1.60, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, July 1 0 1,800 Started and completed during July 46,000 46,000 Transferred out of Rolling (completed) 46,000 47,800 Inventory in process, July 31 4,000 2,000 Total units to...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $1.90 and $1.40, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 1,900 Started and completed during October 32,000 32,000 Transferred out of Rolling (completed) 32,000 33,900 Inventory in process, October 31 4,000 2,400 Total units to be...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of...
Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $0.80 and $1.25, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 2,900 Started and completed during the period 41,000 41,000 Transferred out of Filling (completed) 41,000 43,900 Inventory in process, end of period 5,000 2,000 Total...
Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending...
Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending department had the following data for the month of March: Units in BWIP — Units completed 21,600 Units in EWIP (20% complete) 2,250 Total manufacturing costs $101,430 Required: 1. What is the output in equivalent units for March? equivalent units 2. What is the unit manufacturing cost for March? Note: Round your answer to the nearest cent. $ per unit 3. Compute the cost...
Chapter 20: PE 20-6A cost of units transferred out and ending work in process The costs...
Chapter 20: PE 20-6A cost of units transferred out and ending work in process The costs per equivalent unit of direct materials and conversion in the filling department of Lilac Skin Care Company are $ 0.45 and $0.15, respectively. The equivalent units to be assigned costs are as follows:                                                                                                                       Equivalent Units      Direct Materials    Conversion Inventory in process beginning of period 0 1,200 Started and completed during the period 38,000 38,800 Transferred out of filling(completed)                                                    38,800                   40,000 Inventory in the...
If 181100 units are transferred out of a department, there was no beginning work in process,...
If 181100 units are transferred out of a department, there was no beginning work in process, and there are 29300 units still in process at the end of a period, the number of units that were started into production during the period is 151800. 29300. 181100. 210400.
FIFO Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Dama Company...
FIFO Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Dama Company produces women's blouses and uses the FIFO method to account for its manufacturing costs. The product Dama makes passes through two processes: Cutting and Sewing. During April, Dama's controller prepared the following equivalent units schedule for the Cutting Department: Direct Materials Conversion Costs Units started and completed 40,000 40,000 Units, beginning work in process: 10,000 × 0% — — 10,000 × 50% — 5,000...
FIFO Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Dama Company...
FIFO Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Dama Company produces women's blouses and uses the FIFO method to account for its manufacturing costs. The product Dama makes passes through two processes: Cutting and Sewing. During April, Dama's controller prepared the following equivalent units schedule for the Cutting Department: Direct Materials Conversion Costs Units started and completed 45,000 45,000 Units, beginning work in process: 14,000 × 0% — — 14,000 × 50% — 7,000...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT