Regal Polish manufactures a single product in one department and uses a process

Question

Regal Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 10,400 units in process that were 100 percent complete with respect to direct material and 60 percent complete with respect to conversion costs (labor and overhead). During the month, the company began production of 108,300 units. Ending Work in Process Inventory consisted of 5,200 units that were 100 percent complete with respect to material and 70 percent complete with respect to conversion costs.

Explanation / Answer

a. Direct material $80500/110000+5000 = 0.70 Direct labor 9080/110000+3500 = 0.08 Manufacturing overhead 10215 /110000+3500 = 0.09 Total $99,795 0.87 b.110000*.87 = 95700 Ending WIP (5000*.7+3500*.17) 4095 c.Beginning Work in process 4500 Cost added 95295 Total 99795 Total of b 99795

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