Roland Roland Corp. had the following production information for August: Roland

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Roland

Roland Corp. had the following production information for August: Roland Corp. had the following production information for August: Beginning work in process 0 Units started and completed 40,000 Ending work in process 8,000 Roland's ending work in process is 100 percent complete for materials and 30 percent complete for conversion. Roland uses the weighted-average costing method and has computed direct materials cost per equivalent unit of $10 and conversion cost per equivalent unit of $24. Determine the cost assigned to units transferred out and to ending work in process.

Explanation / Answer

PARTICULARS PARTICULARS PARTICULARS Direct Materials Conversion Total Cost Units Completed & Transferred Out 40000 X10 = 400000 40000 x24 = 960000 1360000 Ending Inventory 8000x10 = 80000 8000x0.3x24 = 57600 137600 Total Cost Accounted for 480000 1017600 1497600

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