Question

In: Accounting

* A department had 250 units of beginning work-in-process, which are 90% as to direct materials...

* A department had 250 units of beginning work-in-process, which are 90% as to direct materials

and 70% complete as to conversion.

* The department started 430 units during a given period.

* The department completed and transferred out 380 units.

* At the end of the period, there are 300 units remaining unfinished with 100% complete as to direct materials

and 40% complete as to conversion.

* The following cost information is given for the department:

Direct materials Conversion

Beginning work-in-process $10,000 $20,000

Current period cost $24,000 $60,000

Total $34,000 $80,000

* Cost per equivalent unit for Direct materials is given as $50.

13. The equivalent units as to Conversion are ________EUs.

14. Cost per equivalent unit for Conversion is $_______.

15. Cost of 380 completed units is $____________

16. Cost of 300 ending work-in-process units is $________

Expert Solution

Answer:

13. The equivalent units as to Conversion are 500 EUs.

14. Cost per equivalent unit for Conversion is $ 160.

15. Cost of 380 completed units is $ 79,800.

16. Cost of 300 ending work-in-process units is $ 34,200.

Working Note:

Process Costing
*Statement of Equivalent Production*
Input	Particulars	Output	Material		Conversion cost
			%	Units	%	Units
680	Put and processed	380	100%	380	100%	380
	Closing stock	300	100%	300	40%	120
680	Total	680		680		500

	Costs:
	Opening		$ 10,000		$ 20,000
	February		$ 24,000		$ 60,000
	Total		$ 34,000		$ 80,000

	Cost per unit		$ 50.00		$ 160.00

Value of Put and processed
Material	$ 19,000.00
Conversion cost	$ 60,800.00
Total	$ 79,800.00

Value of Closing Stock
Material	$ 15,000.00
Conversion cost	$ 19,200.00
Total	$ 34,200.00

In case of any doubt, please comment.

ekkarill92 answered 2 years ago

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