Time remaining: 1:46:05 20.00 points Data concerning a recent period\'s activity
ID: 2338841 • Letter: T
Question
Time remaining: 1:46:05 20.00 points Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units of production in ending work in process Cost per equivalent unit 2,010 $15.45 960 $6.45 A total of 20,600 units were completed and transferred to the next processing department during the period. Required: Compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory. (Round your final answers to the nearest whole dollar amount.) Materials Conversion Total Cost of ending work in process inventory Cost of units transferred outExplanation / Answer
Statement of cost (Working)
Equivalent Cost/unit
Ending WIP
Transferred
Units
Cost Allocated
Units
Cost Allocated
Material
$ 15.45
2,010
$ 31,054.50
20,600
$ 318,270.00
Conversion Cost
$ 6.45
960
$ 6,192.00
20,600
$ 132,870.00
TOTAL
TOTAL
$ 37,246.50
TOTAL
$ 451,140.00
Answer
Material
Conversion
Total
Cost of Ending work in process inventory
$ 31,054.50
$ 6,192.00
$ 37,246.50
Cost of units transferred out
$ 318,270.00
$ 132,870.00
$ 451,140.00
Statement of cost (Working)
Equivalent Cost/unit
Ending WIP
Transferred
Units
Cost Allocated
Units
Cost Allocated
Material
$ 15.45
2,010
$ 31,054.50
20,600
$ 318,270.00
Conversion Cost
$ 6.45
960
$ 6,192.00
20,600
$ 132,870.00
TOTAL
TOTAL
$ 37,246.50
TOTAL
$ 451,140.00
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