Montreal Manufacturing Inc. has the following cost and production data for the m

Question

Montreal Manufacturing Inc. has the following cost and production data for the month of April.

The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of process.

Costs pertaining to the month of April are as follows:

391,204

etermine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.)

Beginning WIP 17,400 units Started in production 103,300 Completed production 92,000 Ending WIP 28,700

Explanation / Answer

FIFO method Beggining units 17400 Transferred out 92,000 Started into production 103300 Ending units 28,700 120700 120700 Equivalent units Material Conversion Beginning units 17400 17400 Completion in current period 0% 40% A 0 6960 Units started and completed 74600 74600 Completion 100% 100% B 74600 74600 Ending Units 28,700 28,700 Completion 100% 40% C 28700 11480 Total units A+B+C 103300 93040 Cost per equivalent units Per unit cost Cost Total units Per unit cost Material cost 568150 103300 5.50 Conversion cost 590804 93040 6.35 Total 1158954 11.85 Cost of goods sold Material convertion cost Beginning work in progress A 66100 38600 104700 Beginning inventory completed Completion 0% 40% Per unit cost 5.50 6.35 Units 17400 17400 Total cost   B 0 44196 44196 Units started and completed Completion 100% 100% Per unit cost 5.50 6.35 Units 74600 74600 Total cost    C 410300 473710 884010 Total cost A+B+C 476400 517906 1032906 Ending work in progress Completion 100% 40% Per unit cost 5.50 6.35 Units 28,700 28,700 Total cost     157850 72898 230748

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