sermeresesseriocatoraeagrment take&rprogress; Calculator Stevens Company\'s inve

Question

sermeresesseriocatoraeagrment take&rprogress; Calculator Stevens Company's inventory on March 1 and thhe costs charged to Work in Process-Department B during March are as follows Beginning work in process, 12,000 units, 60% completed From Department A, 55,000 units started this periond Direct materials added Direct labor incurred Factory overhead incurred $62,400 115,500 384,915 138,000 During March, all drect materials were transferred from Department A, te umts in process at March i-ere completed. and of the 55,000 units entering the levrtment. all were completed except 6,000 units which were 70% completed Inverteries are costed by the rit in, fnt out method. Prepare a cost of production report for March. If required, round your cost per equivalent unit amounts to four decimal places. Round all other amounts to the searest doilar. If an amount value is zero enter 0" as answer Cost off Production For the Month Ended March 33 Unts charged to production Fo Fe

Explanation / Answer

Q1. Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units completed from Beg. WIP 40% 4,800 40% 4,800 Units started and completed 100% 49,000 100% 49,000 Ending Work in Process 70% 4,200 70% 4,200 Total Equivalent units 58,000 58,000 COST PER EQUIVALENT UNIT: Material Conversion Total cost added during the year 115,500 522,915 Equivalent Units 58,000 58,000 Cost per Equivalent unit 1.991379 9.015776 Q2. Equivalent Units: Material Cost Conversion % Completion Units % Completion Units Units completed from Beg. WIP 0% 0 40% 4,800 Units started and completed 100% 9,000 100% 9,000 Ending Work in Process 70% 5,000 40% 2,000 Total Equivalent units 14,000 15,800 COST PER EQUIVALENT UNIT: Material Conversion Total cost added during the year 106,400 70,310 Equivalent Units 14,000 15,800 Cost per Equivalent unit 7.6 4.45

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