Data concerning a recent period\'s activity in the Prep Department, the first pr

Question

Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below:

A total of 1,700 units were completed and transferred to the next processing department during the period.

Compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory. (Round your final answers to the nearest dollar amount.)

Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below:

Explanation / Answer

Units Transferred out (1700 units) Equivalent unit Cost per EU Total Cost Material 1,700 32.12 54604 Conversion Cost 1,700 8.15 13855 Total Cost of Units completed and transferred out: 68459 Ending Work in process (700 units) Equivalent unit Cost per EU Total Cost Material 700 32.12 22484 Conversison Cost 380 8.15 3097 Total cost of Ending Work in process: 25,581 Material Conversion Total Cost of Units transferred out 54604 13855 68459 Cost of Ending WIP 22484 3097 25581 Total cost accounted for: 94040

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