Hello, I am working on an accounting assignment below. But I am unsure of how to

Question

Hello, I am working on an accounting assignment below. But I am unsure of how to solve it. I would greatly appreciate any help with the assignment below. Please disregard the following typos: Show Solution, Link to Text, Video Applied Skills, Your answer is correct and Attempts 1 of 3 used.

(a)

Materials

Conversion Costs

SHOW SOLUTION

LINK TO TEXT

(b)

Materials

Conversion Costs

SHOW SOLUTION

LINK TO TEXT

LINK TO TEXT

(c)

The Blending Department of Luongo Company has the following cost and production data for the month of April. Costs:    Work in process, April 1       Direct materials: 100% complete $116,000       Conversion costs: 20% complete 81,200          Cost of work in process, April 1 $197,200    Costs incurred during production in April       Direct materials $928,000       Conversion costs 423,400          Costs incurred in April $1,351,400
Units transferred out totaled 19,720. Ending work in process was 1,160 units that are 100% complete as to materials and 40% complete as to conversion costs.

Explanation / Answer

a) Calculate equivalent unit :

Compute unit cost :

3) Cost of transferred out = (50+25)*19720 = 1479000

Ending work in process = (1160*50+464*25) = 69600

Material Conversion cost Unit transferred out 19720 19720 Ending work in process 1160 1160*40% = Total equivalent unit 20880 20184

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