The Cutting Department of Hong Manufacturing has the following production and co

Question

The Cutting Department of Hong Manufacturing has the following production and cost data for July. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Determine the equivalent units of production for materials and conversion costs. Equivalent units of materials Equivalent units of conversion costs Compute unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. $2.57.) Unit materials cost $ Unit conversion cost $ Costs accounted for

Explanation / Answer

Answer:

a)

b)

Material Convertion cost Units % Completion Equivalent units % Completion Equivalent units Units transferred to next process 9800 100% 9800 100% 9800 Closing units in process 4000 100% 4000 59% 2360 Total - Equivalent Units 13800 12160

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