Question

4 10 polnts started into Pounds Prey4 of 10 Next > O Type here to ip

Answer 1

Answer

Pounds completed and transfer = 66000 - 318000-26000 = 358000 pounds
1. Computation of Equivalent units of production
	Material	Conversion cost
Completed and Transfered	3,58,000	3,58,000
Ending Inventory	23,100	9,900
Total Equivalent Units	3,81,100	3,67,900
2. Computation of the cost per equivalent unit
	BI (costs)	+ Started (Costs)	/ Equivalent Units	Unit Cost
Materials	68,300	3,55,130	3,81,100	0.93
Conversion cost	19,300	1,05,930	3,67,900	0.29
Total unit cost				1.22
3. Cost of Ending work in process inventory and units transferout.
Cost of Ending work in process inventory
Material	23100*.93	21,483
Conversion cost	9900*.29	2,871
Total Cost of Ending work in process inventory		24,354
Cost of Units Transfer out	358000*1.22	436760
4. Cost reconciliation report for the month
Cost to be accounted for
Work in process inventory, May 1	87600
Cost added during May	461060
Total cost to be accounted for	548660
Cost Accounted for as follow
Cost of Ending work in process inventory	24354
Cost of Units Transfer out	436760
Total Cost Accounted for	461114