Data concerning a recent period’s activity in the Prep Department, the first pro

Q: Data concerning a recent period’s activity in the Prep Department, the first pro

Solution 1: Solution 2: Computation of Cost of ending WIP (Prep Department) Particulars Material Conversion (Labor + Overhead) Total Equivalent unit of Ending WIP 2160 840 Cost per equivalent unit $14.56 $33.00 Cost of Ending WIP (Equivalent unit * Cost per equivalent unit) $31,450 $27,720 $59,170

ID: 2395289 • Letter: D

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 21,000 units were completed and transferred to the next processing department during the period.

Required:

1. Compute the cost of ending work in process inventory for materials, conversion, and in total.

2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.

(Round your final answers to the nearest whole dollar amount.)

Materials Conversion Equivalent units in ending work in process inventory 2,160 840 Cost per equivalent unit $ 14.56 $ 5.33

Explanation / Answer

Solution 1:

Solution 2:

Computation of Cost of ending WIP (Prep Department) Particulars Material Conversion (Labor + Overhead) Total Equivalent unit of Ending WIP 2160 840 Cost per equivalent unit $14.56 $33.00 Cost of Ending WIP (Equivalent unit * Cost per equivalent unit) $31,450 $27,720 $59,170

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Data concerning a recent period’s activity in the Assembly Department, the first

Data concerning a recent period’s activity in the Prep Department, the first pro

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Data concerning a recent period’s activity in the Prep Department, the first pro

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