Question2 The polishing department of Lacroix Manufacturing Company has the foll
ID: 2341982 • Letter: Q
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Question2 The polishing department of Lacroix Manufacturing Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory of 2,400 units that are 100% complete in terms of materials and 30% complete in terms of conversion costs; units started during the period are 11,600; ending inventory of 3,400 units are 10% complete in terms of conversion costs. Manufacturing costs: Beginning inventory costs, comprising $24,700 of materials and $27,600 of conversion costs; materials costs added in polishing during the month, $117,400; labour and overhead applied in polishing during the month, $100,500 and $262,458, respectively. Your answer is correct. Calculate the equivalent units of production for materials and conversion costs for the month of September. Materials Conversion Costs Equivalent units of production 14000 10940Explanation / Answer
Cost per Equivalent Units
COST
Material
Conversion Cost
TOTAL
Beginning WIP Inventory Cost
$ 24,700.00
$ 27,600.00
$ 52,300.00
Cost incurred during period
$ 117,400.00
$ 362,958.00
$ 480,358.00
Total Cost to be accounted for
$ 142,100.00
$ 390,558.00
$ 532,658.00
Total Equivalent Units
14,000
10,940
Cost per Equivalent Units
$ 10.15
$ 35.70
Material
Conversion
Cost per Equivalent Units
$ 10.15
$ 35.70
Cost per Equivalent Units
COST
Material
Conversion Cost
TOTAL
Beginning WIP Inventory Cost
$ 24,700.00
$ 27,600.00
$ 52,300.00
Cost incurred during period
$ 117,400.00
$ 362,958.00
$ 480,358.00
Total Cost to be accounted for
$ 142,100.00
$ 390,558.00
$ 532,658.00
Total Equivalent Units
14,000
10,940
Cost per Equivalent Units
$ 10.15
$ 35.70
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