Question
In: Accounting
Dirt Cleaners, Inc. has the following production data for January: Transferred out 50,000 units Ending work...
Dirt Cleaners, Inc. has the following production data for
January:
Transferred out 50,000 units
Ending work in process 6,000 units
The units in ending work in process are 100% complete for
materials and 60% complete for conversion costs. There is no
beginning work in process. Materials cost is $10 per unit and
conversion costs are $15 per unit.
Instructions
Determine the costs to be assigned to the (a) units
transferred out and (b) the units in ending work in process.
Solutions
Expert Solution
Part (a)
Cost to be assigned to the units transferred out-
Total units transferred out = 50,000 units
(i) Material Cost of units transferred out- 50,000 units* $10 per unit = $ 500,000
(ii) Conversion Costs of units transferred out- 50,000 units* $ 15 per unit = $ 750,000
(iii) Total costs to be assigned to the units transferred out- (i)+(ii) = $ 1,250,000
Part (b)
Costs to be assigned to the units in ending work in progress-
- Calculation of equivalent number of units-
Equivalent number of units in respect of material- 6,000 units* 100% = 6,000 units
Equivalent number of units in respect of conversion costs- 6,000 units* 60% = 3,600 units
- Calculation of costs-
(i) Material Cost of units in ending work in process- 6,000 units* $10 per unit = $ 60,000
(ii) Conversion Costs of units in ending work in process- 3,600 units* $15 per unit = $ 54,000
(iii) Total Cost to be assigned to the units in ending work in progress- (i)+(ii) = $ 114,000
ekkarill92 answered 1 year agoRelated Solutions
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