Question
In: Accounting
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.
| Work in Process—Assembly Department | |||
|---|---|---|---|
| Bal., 2,000 units, 75% completed | 10,000 | To Finished Goods, 46,000 units | ? |
| Direct materials, 47,000 units @ $2 | 94,000 | ||
| Direct labor | 139,600 | ||
| Factory overhead | 54,330 | ||
| Bal. ? units, 20% completed | ? | ||
a. Based on the above data, determine the different costs listed below.
If required, round your interim calculations to two decimal places.
| 1. Cost of beginning work in process inventory completed this period. | $ |
| 2. Cost of units transferred to finished goods during the period. | $ |
| 3. Cost of ending work in process inventory. | $ |
| 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. | $ |
b. Did the production costs change from the
preceding period?
Yes
c. Assuming that the direct materials cost per
unit did not change from the preceding period, did the conversion
costs per equivalent unit increase, decrease, or remain the same
for the current period?
Increase
Solutions
Expert Solution
| Cost production report | |||
| Flow Of Units | Physical Units | Direct Material A | Conversion cost |
| Units to be accounted for | |||
| Beginning work in process inventory | 10000 | ||
| Units started | 47000 | ||
| Total u nits to be accounted for | 57000 | ||
| Units accounnted for: | |||
| Transferred out from units of opening WIP | 10000 | ||
| Units started and completed this period | 36000 | ||
| Completed and transferred out (b) | 46000 | ||
| Ending work in progress inventory© | 11000 | ||
| Total units to be accounted for (f) | 57000 | ||
| Calculation of equivalent units | |||
| Units in Beginning WIP n | 10000 | 10000 | |
| % of completion of Beginning WIP in last period | 100% | 20% | |
| % of completion of Beginning WIP completed in current period m | 0% | 80% | |
| Equivalents units of Beginning Wip A (n*m) | 0 | 8000 | |
| Units started and completed B | 36000 | 36000 | 36000 |
| Units of Ending WIP | 11000 | 11000 | 11000 |
| % completion | 100% | 100% | 20% |
| Equivalent units in ending WIP E | 11000 | 11000 | 2200 |
| Total Equivalent units A+B+E | 47000 | 46200 | |
| Cost per equivalent units | |||
| Direct Material A | Conversion cost | Total | |
| Cost per equivalent units | |||
| Cost during the period | $94,000 | 193930 | $287,930 |
| Total equivalent units | 47000 | 46200 | |
| Cost per equivalent units d | $2.00 | $4.20 | $6.20 |
| Cost charged to production | |||
| Beginning Work in Process, | 10000 | ||
| Cost incurred during the period | $287,930 | ||
| Total cost accounted | 297930 | ||
| Cost allocated | |||
| Work in Process, Beginning | 10000 | ||
| To complete Inventory in process Beginning (4.2*8000) | $33,600 | $33,600 | |
| Cost of completed Beginning, Wip | $43,600 | ||
| Started and completed b*d | $72,000 | $151,200 | $223,200 |
| Transferred 0ut | $266,800 | ||
| Work in process Ending c*d | $22,000 | $9,240 | $31,240 |
| Total cost assigned | 298040 | ||
| The differnce is due to roounding off | |||
| 1. Cost of beginning work in process inventory completed this period. | $33,600 | ||
| 2. Cost of units transferred to finished goods during the period. | $266,800 | ||
| 3. Cost of ending work in process inventory. | $31,240 | ||
| 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. | $4.20 | ||
| ans 1 | Conversion cost | ||
| Beginning WIP (10000-(2000*2))/2000 | 3 | ||
| Current period | 4.2 | ||
| Increase | 1.2 | ||
| If conversion cost is not rounded off | |||
| Cost production report | |||
| Flow Of Units | Physical Units | Direct Material A | Conversion cost |
| Units to be accounted for | |||
| Beginning work in process inventory | 10000 | ||
| Units started | 47000 | ||
| Total u nits to be accounted for | 57000 | ||
| Units accounnted for: | |||
| Transferred out from units of opening WIP | 10000 | ||
| Units started and completed this period | 36000 | ||
| Completed and transferred out (b) | 46000 | ||
| Ending work in progress inventory© | 11000 | ||
| Total units to be accounted for (f) | 57000 | ||
| Calculation of equivalent units | |||
| Units in Beginning WIP n | 10000 | 10000 | |
| % of completion of Beginning WIP in last period | 100% | 20% | |
| % of completion of Beginning WIP completed in current period m | 0% | 80% | |
| Equivalents units of Beginning Wip A (n*m) | 0 | 8000 | |
| Units started and completed B | 36000 | 36000 | 36000 |
| Units of Ending WIP | 11000 | 11000 | 11000 |
| % completion | 100% | 100% | 20% |
| Equivalent units in ending WIP E | 11000 | 11000 | 2200 |
| Total Equivalent units A+B+E | 47000 | 46200 | |
| Cost per equivalent units | |||
| Direct Material A | Conversion cost | Total | |
| Cost per equivalent units | |||
| Cost during the period | $94,000 | 193930 | $287,930 |
| Total equivalent units | 47000 | 46200 | |
| Cost per equivalent units d | $2.00 | $4.20 | $6.20 |
| Cost charged to production | |||
| Beginning Work in Process, | 10000 | ||
| Cost incurred during the period | $287,930 | ||
| Total cost accounted | 297930 | ||
| Cost allocated | |||
| Work in Process, Beginning | 10000 | ||
| To complete Inventory in process Beginning (4.2*8000) | $33,581 | $33,581 | |
| Cost of completed Beginning, Wip | $43,581 | ||
| Started and completed b*d | $72,000 | $151,114 | $223,114 |
| Transferred 0ut | $266,695 | ||
| Work in process Ending c*d | $22,000 | $9,235 | $31,235 |
| Total cost assigned | 297930 | ||
| The differnce is due to roounding off | |||
| 1. Cost of beginning work in process inventory completed this period. | $33,581 | ||
| 2. Cost of units transferred to finished goods during the period. | $266,695 | ||
| 3. Cost of ending work in process inventory. | $31,235 | ||
| 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. | $4.20 | ||
| If any doubt please comment |
ekkarill92 answered 1 year agoRelated Solutions
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process—Assembly
Department
Bal., 9,000 units, 65% completed
31,635
To Finished Goods, 207,000 units
?
Direct materials, 212,000 units @ $1.5
318,000
Direct labor
492,900
Factory overhead
191,685
Bal. ? units, 45% completed
?
a. Based on the above data, determine the...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process—Assembly
Department
Bal., 3,000 units, 75% completed
9,450
To Finished Goods, 69,000 units
?
Direct materials, 71,000 units @ $1.8
127,800
Direct labor
93,700
Factory overhead
36,450
Bal., ? units, 35% completed
?
Cost per equivalent units of $1.80 for Direct...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process—Assembly Department
Bal., 7,000 units, 70% completed 28,210 To Finished Goods,
161,000 units ?
Direct materials, 165,000 units @ $2 330,000
Direct labor 363,100
Factory overhead 141,270
Bal. ? units, 60% completed ?
a. Based on the above data, determine the...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process—Assembly Department
Bal., 6,000 units, 70% completed16,140To Finished Goods, 138,000
units?
Direct materials, 141,000 units @ $1.5211,500
Direct labor178,700
Factory overhead69,430
Bal., ? units, 45% completed?
Cost per equivalent units of $1.50 for Direct Materials and
$1.80 for Conversion Costs.
a....
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process The charges to Work in
Process—Assembly Department for a period, together with information
concerning production, are as follows. All direct materials are
placed in process at the beginning of production. Work in
Process—Assembly Department Bal., 6,000 units, 75% completed 25,500
To Finished Goods, 138,000 units ? Direct materials, 141,000 units
@ $1.7 239,700 Direct labor 372,400 Factory overhead 144,860 Bal. ?
units, 70% completed ? a. Based on the above data, determine the...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process—Assembly
Department
Bal., 7,000 units, 45% completed
16,660
To Finished Goods, 161,000 units
?
Direct materials, 165,000 units @ $1.3
214,500
Direct labor
306,800
Factory overhead
119,340
Bal., ? units, 55% completed
?
Cost per equivalent units of $1.30 for Direct...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process—Assembly Department
Bal., 6,000 units, 70% completed16,140To Finished Goods, 138,000
units?
Direct materials, 141,000 units @ $1.5211,500
Direct labor178,700
Factory overhead69,430
Bal., ? units, 45% completed?
Cost per equivalent units of $1.50 for Direct Materials and
$1.80 for Conversion Costs.
a....
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in Process—Assembly
Department
Bal., 6,000 units, 35% completed
13,590
To Finished Goods, 138,000 units
?
Direct materials, 141,000 units @ $1.6
225,600
Direct labor
200,200
Factory overhead
77,900
Bal. ? units, 35% completed
?
Cost per equivalent units of $1.60 for Direct...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in
Process—Assembly Department
Bal., 7,000 units, 65%
completed
24,150
To Finished Goods,
161,000 units
?
Direct materials,
165,000 units @ $1.5
247,500
Direct labor
380,700
Factory overhead
148,100
Bal. ? units, 80%
completed
?
Cost per equivalent units of $1.50 for Direct...
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a...
Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,
together with information concerning production, are as follows.
All direct materials are placed in process at the beginning of
production.
Work in
Process—Assembly Department
Bal., 2,000 units, 55%
completed
5,420
To Finished Goods,
46,000 units
Direct materials,
47,000 units @ $1.5
70,500
Direct labor
79,700
Factory overhead
30,940
Bal. ? units, 40%
completed
?
Cost per equivalent units of $1.50 for Direct Materials...
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