The Cutting Department of Hong Manufacturing has the following production and co

Question

The Cutting Department of Hong Manufacturing has the following production and cost data for July.

Production Costs
1.Transferred out 9,000 units. Beginning work in process $ 0
2.Started 3,000 units that are 60% complete as to conversion costs
and 100% complete as to materials at July 31. Materials 45,000
Labor 16,200
MOH 18,900

Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.

(a) Determine the equivalent units of production for materials and conversion costs.

Equivalent units of materials
Equivalent units of conversion costs

(b) Compute unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. $2.57.)

Unit materials cost $
Unit conversion cost$

Costs accounted for
Transferred out $
Work in process, July 31
Materials$
Conversion costs$ $
Total costs $

Explanation / Answer

Beg. WIP = 0 Started = 3000 Total = 3000 -----------------------Material --- Conversion Transfered = 9000 | 9000 | 9000 End WIP = -6000 | -3600 | -6000 (?.. 3000-9000 = -6000, I did it like the book example, and 60%*-6000 for materials) Total = 3000 | 5400 | 3000

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