Question

In: Accounting

Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were...

Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period, 3,000 units were 20% completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period:

Work in process, beginning of period $40,000
Costs added during period:
Direct materials (10,400 units at $8) 83,200
Direct labor 63,000
Factory overhead 25,000


All direct materials are placed in process at the beginning of production, and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (round unit cost calculations to whole dollars)?

a.$211,200

b.$190,275

c.$20,934

d.$120,060

Solutions

Expert Solution

Solution:

Department G
Computation of Equivalent unit (FIFO)
Particulars Physical units Material Conversion
Units to be accounted for:
Beginning WIP Inventory 3600
Units started this period 10400
Total unit to be accounted for 14000
Units Accounted for:
Units completed and transferred out
From beginning inventory
Material - 0%
Conversion - 75%		 3600 0 2700
Started and completed currently 7400 7400 7400
Units in ending WIP
Material - 100%
Conversion - 20%		 3000 3000 600
Total units accounted for 14000 10400 10700
Department G
Computation of Cost per Equivalent unit
Particulars Total cost Material Conversion
Current period cost $171,200.00 $83,200.00 $88,000.00
Equivalent units 10400 10700
Cost per equivalent unit $8.00 $8.22

Cost of units started and completed = 7400 * $8 + 7400*$8.2243 = $120,060

Hence option d is correct.

ekkarill92 answered 1 year ago
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