Roland Corp. had the following production information for August: Beginning work
ID: 2336178 • Letter: R
Question
Roland Corp. had the following production information for August: Beginning work in process Units started and completed Ending work in process 37,000 3,100 Roland's ending work in process is 100 percent complete for materials and 32 percent complete for conversion. Roland uses the weighted-average costing method and has computed direct materials cost per equivalent unit of $5.80 and conversion cost per equivalent unit of $13.10 Determine the cost assigned to units transferred out and to ending work in process. (Round your final answers to the nearest whole number.) Direct Materials Conversion Total C Units Completed & Transferred Out Ending Inventory Total Cost Accounted forExplanation / Answer
Units
Reconciliation of Units
A
Opening WIP
-
B
Introduced
37,000
C=A+B
TOTAL
37,000
D
Transferred
33,900
E=C-D
Closing WIP
3,100
Statement of Equivalent Units
Material
Conversion Cost
Units
Complete %
Equivalent units
Complete %
Equivalent units
Transferred
33,900
100%
33,900
100%
33,900
Closing WIP
3,100
100%
3,100
32%
992
Total
37,000
Total
37,000
Total
34,892
Statement of cost
Cost
Equivalent Cost/unit
Ending WIP
Transferred
Units
Cost Allocated
Units
Cost Allocated
Material
$ 5.80
3,100
$ 17,980.00
33,900
$ 196,620.00
Conversion Cost
$ 13.10
992
$ 12,995.20
33,900
$ 444,090.00
TOTAL
TOTAL
$ 30,975.20
TOTAL
$ 640,710.00
Answer
Direct Material
Conversion
Total Cost
Units Completed and Transferred out
$ 196,620.00
$ 444,090.00
$ 640,710.00
Ending Inventory
$ 17,980.00
$ 12,995.20
$ 30,975.20
Total Cost Accounted for
$ 214,600.00
$ 457,085.20
$ 671,685.20
Units
Reconciliation of Units
A
Opening WIP
-
B
Introduced
37,000
C=A+B
TOTAL
37,000
D
Transferred
33,900
E=C-D
Closing WIP
3,100
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