Question

In: Accounting

Department S had no work in process at the beginning of the period. It added 14,400...

Department S had no work in process at the beginning of the period. It added 14,400 units of direct materials during the period at a cost of $100,800; 10,800 units were completed during the period; and 3,600 units were 34% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. Direct labor was $52,300 and factory overhead was $8,800.

The total cost of units completed during the period was?

Solutions

Expert Solution

Solution

Cost of Units completed and transferred out $ 130,480

Working

Statement of Equivalent Units(Weighted average)
Material Conversion
Units Complete % Equivalent units Complete % Equivalent units
Transferred out              10,800 100%                    10,800 100%                   10,800
Ending WIP                3,600 100%                       3,600 34%                     1,224
Total              14,400 Total                    14,400 Total                   12,024

.

.

Cost per Equivalent Units (Weighted average)
COST Material Conversion TOTAL
Beginning WIP Inventory Cost (A) $ 0 $ 0 $ 0
Cost incurred during period (B) $ 100,800 $ 61,100 $ 161,900
Total Cost to be accounted for (C=A+B) $ 100,800 $ 61,100 $ 161,900
Total Equivalent Units(D)                   14,400              12,024
Cost per Equivalent Units (E=C/D) $ 7.00 $ 5.08 $ 12.08

.

Statement of cost (Weighted average)
Cost Equivalent Cost/unit Transferred
Units Cost Allocated
Material $ 7.00            10,800 $          75,600.00
Conversion $ 5.08            10,800 $          54,880.24
TOTAL $ 161,900 TOTAL $ 130,480

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