at Font Tools Table Window Help 33% Ch 17 Written Homework.dock 100% No Spacing
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at Font Tools Table Window Help 33% Ch 17 Written Homework.dock 100% No Spacing Heading 1 Heading 2it -Beginning Work-in-Process Inventory (20% complete for direct materials, 70% complete for conversion costs Transferred in from Mixing Department during March 4,000 units 14,000 units Completed and transferred out to Finished Goods inventory during March 15,000 units Ending Work-in-Process inventory (30% complete for direct materials, 80% complete for conversion costs) 3,000 units COSTS Work-in-Process Inventory, August 32 transtecced in costs, $11,400; direct materials costs, $1,000, conversion costs, $1,800) $14,200 Transferred in from Mixing Department during March (calculated in problem 1 abovel Direct materials added during March Conversion costs added during March 5,360 24,300 Print the blank production cost report (not the report with instructions although you may refer to this report f you get stuck). Complete the blank production cost report for the Finishing Department for the month of March 2018 and answer the following questions: s) Number of equivalent units for the month of March for transferred-in h) Number of equivalent units for the month of March for direct materials 1) Number of equivalent units for the month of March for conversion costs Ul Cost per equivalent unit for transferred-in costs k) Cost per equivalent unit for direct materials cost per equivalent unit for conversion costs Im) Cost assigned to completed and transferred units for March INICost assigned to March 31 ending inventory ec 1 Pages:2 ot 2 Words 0 ot 409Explanation / Answer
g) No. of equivalent units for the month of March for transferred in = 14,000 units
h) Equivalent units for direct materials = (Opening WIP*80%)+Started and completed units+(Ending WIP*30%)
= (4,000 units*80%)+(15,000 Completed - 4,000 opening WIP)+(3,000 units*30%)
= 3,200 units+11,000 units+900 units = 15,100 units
Workings:
As beginning WIP is 20% complete in respect of materials, it means remaining 80% is completed in the month of March and 30% of ending WIP is completed in the month of March.
i) Equivalent units for conversion costs = (Opening WIP*30%)+Started and completed units+(Ending WIP*80%)
= (4,000 units*30%)+(15,000 Completed - 4,000 opening WIP)+(3,000 units*80%)
= 1,200 units+11,000 units+2,400 units = 14,600 units
j) Cost of transferred in units during march is missing in the question (Sorry I am unable to aswer this part but I can mention the formula)
Cost per equivalent unit for transferred in units = Cost of transferred in units during march/14,000 units
k) Cost per equivalent unit for direct materials = Direct materials added during March/Equivalent units
= $5,360/15,100 units = $0.3550 per unit
l) Cost per equivalent unit for Conversion costs = Conversion cost added during March/Equivalent units
= $24,300/14,600 units = $1.6644 per unit
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