Question

Brussels CorningWare reports the following information for its Baking process during the month of March 020: • Materials are entered at the beginning of the Baking process. Other costs are incurred evenly during the process • Production results were: (1) 36,000 units were started at the beginning of March (2) At March 31, 2020, 3,600 units were left 50% complete as to conversion and 100% complete as to material • Costs accumulated during March include: (1) $0 costs (no beginning WIP) (2) Material, $72,000 (3) Labor, $55,000 (4) Manufacturing Overhead, $101,000 INSTRUCTIONS: (Hint: Be sure to have a blank Product Cost Report to help you) Answer the questions below. Strictly follow these specifications: Round S-amounts to the nearest $.01 (penny. Include a S on all dollar amounts. Include the decimal point and 2-digit cents on all dollar amounts. • Include a comma on all dollar amounts where applicable. For each blank, do not provide a longer answer than asked. ALL are one-word or one S-amount answers. units. Required: 1. The TOTAL number of units in process during the month is 2. The equivalent units of production for material equals 3. The equivalent units of production for Conversion cost equals units units 4. The answer to #3 is found by adding together : 1. percent units and 2 units multiplied by 5. The unit cost for material equals divided by 6. The unit cost for conversion cost equals divided by 7. The total cost to be accounted for equals 8. How many units were transferred out? 9. What is the total cost of units transferred out?

Answer 1

0 46 1) 47 Units in beginning work in process inventory Units started in during the period Total number of Units in process during the month is 36000 48 36,000 Units 49 50 2) 51 Units Completed & Transferred Out (36000 3600) Units in ending work in process Inventory Total equivalent units of production for material equals 52 Material 32,400 (32400*100%) 3,600 (3600*100%) 36,000 Units 32,400 3,600 36,000 53 54 55 3) 56 Conversion consists of Labor and Manufacturing overhead 57 Units Completed & Transferred Out (36000-3600) Units in ending work in process Inventory Total equivalent units of production for Conversion cost equals 58 Conversion 32,400 (32400*100%) 1,800 (3600*50%) 34,200 Units 32,400 3,600 36,000 59 60 The answer to #3 is found by adding together ;1.32,400 units and 2. 3,600 units multiplied by 50% Percent. 61 4) 62 63 5) 64 65 6) 66 TheUnit cost for material equals $72,000 divided by 36,000 The Unit cost for Conversion equals $156,000 divided by 34,200 67 7) The total cost to be accounted for equals $228,000

How many units were ransferred out? 32,400 Total 69 8) 70 71 9) 72 Total Costs to account for Divided by Equivalent Units Cost per Equivalent Unit Material 72000 36000 2.00 Conversion 156000 34200 4.56 73 6.56 74 75 Total Cost of Units transferred out (32400*6.56) 212,589 76 77 78 Note; As Per HOMEWORKLIB POLICY we are allowed to answer first question only if there are multiple questions and I have answered all the parts of first question. 79 80 81