Question 31 Montreal Manufacturing Inc. has the following cost and production da
ID: 2342830 • Letter: Q
Question
Question 31 Montreal Manufacturing Inc. has the following cost and production data for the month of April Beginning WIP Started in production Completed production Ending WIP 17,000 units 102,600 92,200 27,400 The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process Costs pertaining to the month of April are as follows Beginning inventory costs are Materials Direct labour Factory overhead $65,000 21,100 16,900 Costs incurred during April include Materials Direct labour Factory overhead $533,520 194,400 381,952Explanation / Answer
Answers
Units Reconciliation
Units to account for:
Beginning WIP
17,000
Units started this period
102,600
Total Units to account for
119,600
Total Units accounted for:
Completed & Transferred out
92,200
Ending WIP
27,400
Total Units accounted for
119,600
EUP - FIFO Method
Units
% Material
EUP Materials
% Conversion
EUP - Conversion
Units of ENDING WIP
27,400
100%
27,400
40%
10,960
Units STARTED & COMPLETED
75,200
100%
75,200
100%
75,200
Units of beginning WIP
17,000
0%
-
40%
6,800
Equivalent Units of Production
102,600 units = Answer for Material
92,960 units = Answer for conversion cost
COST per EUP
Material
Conversion
Cost incurred this period
$ 533,520.00
$ 576,352.00
Total Costs
Costs
$ 533,520.00
Costs
$ 576,352.00
Equivalent units of production
EUP
102,600
EUP
92,960
Cost per EUP
$ 5.200
$ 6.200
---Working
Cost Transferred out:
EUP
Cost per EUP
Total Cost
Cost of Beginning WIP
$ 103,000.00
Cost to complete beginning WIP-
- Direct Materials
-
$ 5.20
$ -
- Conversion
6,800
$ 6.20
$ 42,160.00
Total cost to complete beginning WIP
$ 145,160.00
Cost of Units started & completed this period:
EUP
Cost per EUP
Total Cost
- Direct Materials
75,200
$ 5.20
$ 391,040.00
- Conversion
75,200
$ 6.20
$ 466,240.00
Total costs started & Completed this period
$ 857,280.00
Total cost of work finished this period
$ 1,002,440.00
Costs of Ending WIP:
EUP
Cost per EUP
Total Cost
- Direct Materials
27,400
$ 5.20
$ 142,480.00
- Conversion
10,960
$ 6.20
$ 67,952.00
Total cost of ending WIP
$ 210,432.00
Total costs accounted for
$ 1,212,872.00
--Answer, as asked
TOTAL
Materials
Conversion
Beginning Inventory
$ 103,000.00
$ 65,000.00
$ 38,000.00
Completed Beginning WIP
$ 42,160.00
$ 42,160.00
Started & Completed
$ 857,280.00
$ 391,040.00
$ 466,240.00
Cost for units transferred out
$ 1,002,440.00
$ 456,040.00
$ 546,400.00
Ending Work in Process
$ 210,432.00
$ 142,480.00
$ 67,952.00
Total Costs
$ 1,212,872.00
$ 598,520.00
$ 614,352.00
Units Reconciliation
Units to account for:
Beginning WIP
17,000
Units started this period
102,600
Total Units to account for
119,600
Total Units accounted for:
Completed & Transferred out
92,200
Ending WIP
27,400
Total Units accounted for
119,600
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