Data concerning a recent period’s activity in the Prep Department, the first pro
ID: 2416123 • Letter: D
Question
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units of production in ending work in process 2,070 830 Cost per equivalent unit $14.56 $4.73 A total of 21,200 units were completed and transferred to the next processing department during the period. Required: Compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory. (Round your final answers to the nearest whole dollar amount.)
Cost of ending work in process inventory: Materials??? Conversion??? Total??
Cost of units transferred out Materials??? Conversion??? Total???
Maria Am Corporation uses a process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,860, the cost of ending work in process inventory was $1,110, and the cost added to production was $25,100.
Prepare a cost reconciliation report for the Baking Department for June.
Maria Am Corporation uses a process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $4,860, the cost of ending work in process inventory was $1,110, and the cost added to production was $25,100.
Explanation / Answer
Statement of Equivalent production Particulars Equivalent mat Equivalent Conv Equivalent Units of Ending WIP 2,070.00 830.00 Cost per Equivalent unit 14.56 4.73 Cost of Ending WIP 30,139.20 3,925.90 Equivalent Units of units transferred to the next department 21,200.00 21,200.00 Cost per Equivalent unit 14.56 4.73 Cost of units transferred to the next department 308,672.00 100,276.00 Cost Reconciliation Report Costs to Account for: Opening WIP 4,860.00 Costs Transferred in 25,100.00 Total Costs to Account for 29,960.00 Costs Accoounted for Costs completed and Transferred Out(Bal Fig)(29,960-1,110) 28,850.00 Ending WIP 1,110.00 Total Costs accounted for 29,960.00
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.