Question

Department G had 2,040 units 25% completed at the beginning of the period, 12,500 units were completed during the period, 1,700 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period:

Work in process, beginning of period	$30,300
Costs added during period:
Direct materials (12,160 units at $8)	97,280
Direct labor	78,600
Factory overhead	26,200

All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. The total cost of 2,040 units of beginning inventory which were completed during the period is (do not round unit cost calculations)?

Answer 1

Answer--------------$46,304

Working

STEP 1 (FIFO)
Reconciliation of Units
	Units	% already completed	% completed this period
	Material	Conversion	Material	Conversion
Beginning WIP	2,040	100%	25%	0%	75%
Units introduced	12,160
Total units to be accounted for	14,200
Completed and Transferred unit	12,500	0%	0%	100%	100%
Ending WIP	1,700	0%	0%	100%	20%

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STEP 2 (FIFO)
Equivalent Units
	Total Units	Material	Conversion
Units Transferred:	% completed this period	Equivalent Units	% completed this period	Equivalent Units
From WIP	2,040	0%	-	75%	1,530
From units started/Introduced	10,460	100%	10,460	100%	10,460
Total	12,500		10,460		11,990
	Total Units	Material	Conversion
Ending WIP		% completed this period	Equivalent Units	% completed this period	Equivalent Units
Total	1,700	100%	1,700	20%	340
Total EUP	14,200		12,160		12,330

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STEP 3
Cost per Equivalent Units AND Cost to be accounted for
	Material	Conversion	TOTAL
Cost incurred in Current Period	$ 97,280	$ 104,800	$ 202,080
Total Equivalent Units	12,160	12,330
Cost per Equivalent Units	$ 8.00	$ 8.50	$ 16.50
Cost of Beginning WIP			$ 33,300
Total cost to be accounted for	$ 235,380

..

STEP 4
Cost report [Including Reconciliation]
	Cost of	Units Transferred	12,500.00	units
		Equivalent Units [Step 2]	Cost per Equivalent Units [Step 3]	Cost of Units Transferred	TOTAL
A	From Beginning WIP:
	Material	-	$ 8.00	$ 0
	Conversion	1,530	$ 8.50	$ 13,004	$ 13,004
B	From units started & completed
	Material	10,460	$ 8.00	$ 83,680
	Conversion	10,460	$ 8.50	$ 88,906	$ 172,586
C=A+B	Total				$ 185,590
D	Cost of Beginning WIP		$ 33,300
E=C+D	Total Cost of Units transferred		$ 218,890
F=A + D	Cost of beginning units completed