Use the following information to answer questions 6, 7, and 8. Winchester Salad

Question

Use the following information to answer questions 6, 7, and 8.

Winchester Salad Dressing had beginning work-in-process for process 1 in July of $248,320 consisting of $101,640 of materials and $146,680 of conversion costs. There were 16,000 units in beginning work-in-process, 40% complete as to conversion costs. Materials are added at the beginning of the process. During July, 34,000 were transferred out and 9,000 remained in ending inventory. The ending work-in-process was 70% complete for conversion cost. Costs during the period amounted to $781,200 for direct materials and $1,009,280 for conversion.

6) The number of units started in process 1 during July was __________?

7) The cost assigned to completed units in process 1 was __________?

8) The cost assigned to the ending WIP in process 1was __________?

Explanation / Answer

6) Unit started in process 1 : Unit transfered out+Ending work in process-Beginning work in process

= (34000+9000-16000)

Unit started in process 1 : 27000 Units

Cost per equivalent unit :

7) Cost assigned to completed units in proces 1 was = (20.53+28.68)*34000 = 1673140

8) Cost of ending work in process = (9000*20.53+6300*28.68) = 365454

Material conversion cost Beginning wip 101640 146680 Cost added during period 781200 1009280 Total cost 882840 1155960 Equivalent unit 43000 40300 Cost per equivalent unit 20.53 28.68

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