Type your answer in the box. Milford Manufacturing uses a process costing system
ID: 2541632 • Letter: T
Question
Type your answer in the box. Milford Manufacturing uses a process costing system with several production departments. In each department, all direct materials are placed into production at the beginning of the process, whereas conversion activity occurs uniformly throughout the period. At the start of the current period, Department B had 6,000 units in beginning inventory that were 100% complete with respect to materials and 60% complete with respect to conversion. During the period, 18,000 units were transferred into Department B from Department A. At the end of the period, ending inventory in Department B was composed of 1,000 units that were 100% complete with respect to materials and 25% complete with respect to conversion. Answer the following questions pertaining to Department B: The number of new units started and completed during the period was The equivalent units transferred during the period totaled The equivalent units of material used during the period totaled units. equivalent units. equivalent units. Equivalent units of conversion used during the period totaled equivalent units.Explanation / Answer
UNITS TO ACCOUNT FOR: Beginning Work in Process units 6,000 Add: Units Started in Process 18,000 Total Units to account for: 24,000 UNITS TO BE ACCOUNTED FOR: Units completed from Beginning WIP 6000 Units started and completed 17,000 Ending Work in Process 1,000 Total Units to be accounted for: 24,000 Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units completed from Beg. WIP 0% 0 40% 2,400 Units started and completed 100% 17,000 100% 17,000 Ending Work in Process 100% 1,000 25% 250 Total Equivalent units 18,000 19,650 Req 1: The number of Units started and completed during the period: 17000 units Req 2: The equivalent units transferred during the period totalled (6000+17000): 23,000 units Req 3: The equivalent units of material used during the period: 18,000 units Req 4: The Equivalent units of conversion cost during the period: 19650 units
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