Question

Required information The following information applies to the questions displayed below] QualCo manufactures a single product in two departments: Cutting and Assembly. During May, the Cutting department completed a number of units of a product and transferred them to Assembly. Of these transferred units, 38,400 were in process in the Cutting department at the beginning of May and 159,500 were started and completed in May. May's Cutting department beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of May, 52,200 additional units were in process in the Cutting department and were 70 % complete with respect to materials and 25% complete with respect to conversion. The Cutting department had $518,900 of direct materials and $478,632 of conversion cost charged to it during May. Its beginning inventory included $74,975 of direct materials cost and $29.393 of conversion cost funite transferred to Assembly

Answer 1

Solution 1:

Total units transferred assembly = 38400 + 159500 = 197,900

Solution 2 to 4:

F G H J Equivalent units of production (EUP) - FIFO method 20 21 22 Units 38400 159500 52200 23 %Material 30% 100% 70% 24 25 EUP-Material % Conversion | EUP- Conversion 11520 70% 26880 159500 100% 159500 36540 25% 130501 207560 199430 Material Conversion $518,900 Costs $ 478,632 207560 EUP 199430 $2.50 $2.40 26 27 Costs EUP 28 29 30 31 32 33 34 $104,368 Beginning units completed this period Units Started and Completed units of Ending work in process Equivalent units of production Cost per EUP Costs incurred this period (Total Costs) /Equivalent units of Production Cost per Equivalent unit of Production Cost Assignment and Reconciliation Beginning Inventory Cost: Cost to Complete Beginning Inventory Direct materials Conversion Total Cost to complete Beginning Inventory Total Costs of units in Beginning Inventory Cost of units started and completed Direct Material Conversion Total Cost of units started and completed Total cost of units transferred out Cost of ending work in process Direct Material Conversion Total Ending work in process Total Costs accounted for EUP 11520 26880 Cost per EUP $2.50 $2.40 Total Cost $28,800 $64,512 35 $93,312 $197,680 36 37 38 39 EUP 159500 159500 Cost per EUP $2.50 $2.40 Total Cost $398,750 $382,800 40 $781,5501 $979,230 41 42 43 EUP Cost per EUP 36540 $2.50 13050 $2.40 Total Cost $91,350 $31,320 44 45 46 47 $122,670 $1,101,900 -49 (17) Sheet557 ) Sheet564 Sheet565 Sheet146 (9) Sheet567 Sheet194 (5) Sheet568