1. Calculate equivalent units of work done in the current period (for transferre
ID: 2391140 • Letter: 1
Question
1.
Calculate equivalent units of work done in the current period (for transferred-in costs, direct materials, and conversion costs) to complete beginning work in process, to start and complete new units, and to produce ending work in process.
2.
Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs.
3.
Assign costs to units completed (and transferred out) and to units in ending work in process.
1.
Calculate equivalent units of work done in the current period (for transferred-in costs, direct materials, and conversion costs) to complete beginning work in process, to start and complete new units, and to produce ending work in process.
2.
Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs.
3.
Assign costs to units completed (and transferred out) and to units in ending work in process.
Explanation / Answer
Physical Units
Transferred-in-cost
Direct Material
Conversion Cost
WIP, beginning
60
Transferred in during current period
100
To account for
160
Completed & transferred out during current period:-
From beginning WIP
60
0
60
30
Started & Completed
60
60
60
60
WIP Ending
40
40
0
30
Accounted for
160
Equivalent units of work done in current period
100
120
120
(2)
Transferred-in-cost
Direct Material
Conversion Cost
Cost during June (A)
108000
30000
61200
Equivalent units (B)
100
120
120
Cost/Equivalent unit
(A/B)
1080
250
510
(3)
Transferred-in-cost
Direct Material
Conversion Cost
Ending WIP
(40 * 1080)
=43200
0
(30 * 510)
=15300
Units completed & Transferred
(60 * 1080)
=64800
(60 * 250)
=15000
(60 * 510)
=30600
Physical Units
Transferred-in-cost
Direct Material
Conversion Cost
WIP, beginning
60
Transferred in during current period
100
To account for
160
Completed & transferred out during current period:-
From beginning WIP
60
0
60
30
Started & Completed
60
60
60
60
WIP Ending
40
40
0
30
Accounted for
160
Equivalent units of work done in current period
100
120
120
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