Homework Answers
1) Calculation of ending work in process inventory
| Materials | Conversion | Total | |
| Cost of ending work in process inventory | (430*$1.70)= $731 | (180*$0.60)= $108 | $839 |
2) Calculation of units transferred to the next department
| Materials | Conversion | Total | |
| Cost of work in process inventory at the beginning of the period | $3900 | $710 | $4610 |
| Calculation of units completed and transferred: | |||
| From beginning work in process | (690*$1.70)= 1173 | (1180*$0.60)= 708 | 1881 |
| Started and completed | (24900*$1.70)= 42330 | (24900*$0.60)= 14940 | 57270 |
| Total cost of units completed and transferred | $47403 | $16358 | $63761 |
Units started and completed= Units completed and transferred-Beginning work in process inventory
= 26800-1900= 24900
| Materials | Conversion | Total | ||
| 1. | Cost of ending work in process inventory | (430*$1.70)= $731 | (180*$0.60)= $108 | $839 |
| 2. | Cost of the units transferred to the next department | $47403 | $16358 | $63761 |
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Data concerning a recent period's activity in the Assembly Department, the first processing department in a...
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Data concerning a recent period's activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below. Materials $ 2,800 Cost of work in process inventory at the beginning of the period Equivalent units in the ending work in process inventory Equivalent units required to complete the beginning work in process inventory Cost per equivalent unit for the period Conversion $ 660 260 1.110 2.60 610 3.30 $ A...
Data concerning a recent period's activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below. Cost of work in process inventory at the beginning of the period Equivalent units in the ending work in process inventory Equivalent units required to complete the beginning work in process inventory Cost per equivalent unit for the period Materials $ 4,000 460 590 $ 2.80 Conversion $ 650 190 1,170 $...
Data concerning a recent period's activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below: Hint Cost of work in process inventory at the beginning of the period Equivalent units in the ending work in process inventory Equivalent units required to complete the beginning work in process inventory Cost per equivalent unit for the period Materials $ 3,300 499 Gөв $ 1.40 Conversion $ 650 190 1,140...
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