EX 20-11 Equivalent units of production and related costs OBJ. 2 r with infor Th
ID: 2576923 • Letter: E
Question
EX 20-11 Equivalent units of production and related costs OBJ. 2 r with infor The charges to Work in Process-Assembly Department for a period, togethe mation concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal, 900 units, 35% completed Direct materials, 16,000 units@ $21 Direct labor Factory overhead Bal. 2 units, 45% completed 22,450 To Finished Goods, 16,260 units 36,000 101,380 93,416 Determine the following: a. The number of units in work in process inventory at the end of the period. b. Equivalent units of production for direct materials and conversion c. Costs per equivalent unit for direct materials and conversion. d. Cost of the units started and completed during the period.Explanation / Answer
Particulars Equivalent Units Physical Units Materials Conversion Costs Units to be accounted for Work in process - Beginning 900 Started into production 16,000 Total units 16,900 Units accounted for Goods Units Completed & transferred out: From Beginning WIP 900 - 585 (0% materials, 65% conversion costs) Started & Completed (16,260 - 900) 15,360 15,360 15,360 Work in process, Ending (16,900 - 16,260) 640 640 288 (100% materials, 45% conversion costs) Equivalent units accounted for 16,900 16,000 16,233 Materials Conversion Costs Total Total Cost to Account for: WIP, Beginning 22,450 Cost added in current period 336,000 194,796 530,796 Total cost to be account for 336,000 194,796 553,246 Cost added in current period 336,000 194,796 530,796 Equivalent Units of work done in current Period 16,000 16,233 Cost per Equivalent Unit 21.00 12.00 33.00 Assignment of Costs: Goods Units and Completed out (16,260 Units) WIP, Beginning - 900 Units - - 22,450 Cost added to Beg. WIP in Current period - 7,020 7,020 (585 Units X $12) Total of Beginning Inventory before Normal Spoilage - 7,020 29,470 Started and completed - 15,360 Units 322,560 184,320 506,880 (15,360 units X $21) (15,360 units X $12) Total Cost of good units completed & transferred out 322,560 191,340 536,350 WIP, Ending - 640 Units 13,440 3,456 16,896 (640 Units X $21) (288 Units X $12) Total Cost accounted For 336,000 194,796 553,246 Answer a. No. of Units in Ending WIP 640 Answer b. Equivalent Units For Direct Material 16,000 Equivalent Units For Conversion 16,233 Answer c. Cost per equivalent units for Direct Material 21.00 Cost per equivalent units for Conevrsion 12.00 Answer d. Cost of Units started & Completed during the period 506,880
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