Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company

Question

Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process units started durma he period Production: Beginning inventory 1,650 units that are 100% complete as to materials and 30% complete as to conversion costs are 40,600; ending inventory of 6,300 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $21,700 of materials and $11,256 of conversion costs; materials costs added in Polishing during the month, $180,678; labor and overhead applied in Polishing during the month, $127,200 and $257,340, respectively. ? (a) ?Your answer is correct. Compute the equivalent units of production for materials and conversion costs for the month of September Materials Conversion Costs The equivalent units of production 42250 36580 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTIONSHOW ANSWER LINK TO TEXT VIDEO: APPLIED SKILLS Attempts: 1 of 3 used Your answer is correct. Compute the unit costs for materials and conversion costs for the month. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion Costs Unit costs 4.79 10.82 Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

UNITS TO ACCOUNT FOR: Beginning Work in Process units 1,650 Add: Units Started in Process 40,600 Total Units to account for: 42,250 UNITS TO BE ACCOUNTED FOR: Units started and completed 35,950 Ending Work in Process 6,300 Total Units to be accounted for: 42,250 Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units started and completed 100% 35,950 100% 35,950 Ending Work in Process 100% 6,300 10% 630 Total Equivalent units 42,250 36,580 TOTAL COST TO ACCOUNT FOR: Material Conversion Beginning work in Process 21,700 11,256 Cost Added during May 180,678 384,540 Total Cost to account for: 202,378 395,796 Total Cost to account for: 598,174 COST PER EQUIVALENT UNIT: Material Conversion Total cost added during the year 202,378 395,796 Equivalent Units 42,250 36,580 Cost per Equivalent unit 4.790012 10.82001 TOTAL COST ACCOUNTED FOR: Units started and Transferred out (35950 units) Equivalent unit Cost per EU Total Cost Material 35,950 4.79 172200.5 Conversion Cost 35,950 10.82 388979 Total Cost of Units completed and transferred out: 561179.5 Ending Work in process (6300 units) Equivalent unit Cost per EU Total Cost Material 6,300 4.79 30177 Conversison Cost 630 10.82 6816.6 Total cost of Ending Work in process: 36,994 Req 1: Equivalent unit Material Conversion Equivalent unit 42250 36580 Req 2: Material Conversion Cost per equivalent unit 4.79 10.82 Req 3: Cost of Units transferred out: $ 561179.50 Cost of Ending WIP: $ 36994

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