partment A had 4,300 units in Work in Process that were 79% completed at the beginning...

partment A had 4,300 units in Work in Process that were 79% completed at the beginning of the period at a cost of $6,400. During the period, 26,700 units of direct materials were added at a cost of $58,740, and 28,100 units were completed. At the end of the period, 2,900 units were 34% completed. All materials are added at the beginning of the process. Direct labor was $27,200 and factory overhead was $4,800. The cost of the 2,900 units in process at the end of the period if the first-in, first-out method is used to cost inventories was a. $8,836 b. $7,608 c. $6,380 d. $6,994

Expert Solution

UNITS TO ACCOUNT FOR:
Beginning Work in Process units		4,300
Add: Units Started in Process		26,700
Total Units to account for:		31,000

UNITS TO BE ACCOUNTED FOR:
Units completed from Beginning WIP		4300
Units started and completed		23,800
Ending Work in Process		2,900
Total Units to be accounted for:		31,000

Equivalent Units:
	Material Cost		Conversion
	% Completion	Units	% Completion	Units
Units completed from Beg. WIP	0%	0	21%	903
Units started and completed	100%	23,800	100%	23,800
Ending Work in Process	100%	2,900	34%	986
Total Equivalent units		26,700		25,689



COST PER EQUIVALENT UNIT:
	Material		Conversion
Total cost added during the year	58,740		32,000
Equivalent Units	26,700		25,689
Cost per Equivalent unit	2.2		1.245

TOTAL COST ACCOUNTED FOR:
Ending Work in process (2900 units)
	Equivalent unit	Cost per EU	Total Cost
Material	2,900	2.2	6380
Conversison Cost	986	1.245	1228
Total cost of Ending Work in process:			7,608

Answer is b. $ 7608

ekkarill92 answered 2 years ago

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