Data concerning a recent period\'s activity in the Prep Department, the first pr

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 Cost per equivalent unit 2,160 $15.16 940 $5.63 A total of 20,200 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 yourfinal answers to the nearest whole dollar amount.) Materials Conversion Total Cost of ending work in process inventory Cost of units transferred out

Explanation / Answer

Answer:-

Cost of ending work in process inventory Particulars Materials Conversion Total Equivalent units of production in ending work in process (a) 2160 940 Cost per equivalent unit $ (b) 15.16 5.63 Closing work in process (c=a*b) 32746 5292 38038 Cost of units transferred out Particulars Materials Conversion Total Total units transferred to next dept. (a) 20200 20200 Cost per equivalent unit $ (b) 15.16 5.63 Cost of units transferred out (c=a*b) 306232 113726 419958

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