Requirement 2 Change all of the numbers in the data area of your worksheet so th

Question

Requirement 2 Change all of the numbers in the data area of your worksheet so that it looks like this: 3 Data 4 Beginning work in process inventory: 5 Units in process 6 Completion with respect to materials 7 Completion with respect to conversion 8 Costs in the beginning work in process invento 9 Materials cost 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost 15 Ending work in process inventory: 16 Units in process 17 Completion with respect to materials 18 Completion with respect to conversion 19 700 25 % 25 % $8,162 $10,469 10,700 510,398 $656,386 500 60% 10% If your formulas are correct, you should get the correct answers to the following questions. (a) What is the equivalent units of production for materials? Equivalent units of production for materials (b) What is the equivalent units of production for conversion? Equivalent units of production for conversion (c) What is the cost per equivalent unit for materials? (Round your answer to 2 decimal places.) Cost per equivalent unit for materials (d) What is the cost per equivalent unit for conversion? (Round your answer to 2 decimal places.) Cost per equivalent unit for conversion (e) What is the cost of the units transferred out? (Use rounded cost per equivalent unit.) Cost of units transferred out

Explanation / Answer

Req 2:

UNITS TO ACCOUNT FOR: Beginning Work in Process units 700 Add: Units Started in Process 10,700 Total Units to account for: 11,400 UNITS TO BE ACCOUNTED FOR: Units started and completed 10,900 Ending Work in Process 500 Total Units to be accounted for: 11,400 Equivalent Units: UNITS Material Cost Conversion % Completion Units % Completion Units Units started and completed 10900 100% 10,900 100% 10,900 Ending Work in Process 500 60% 300 10% 50 Total Equivalent units 11400 11,200 10,950 TOTAL COST TO ACCOUNT FOR: Material Conversion Beginning work in Process 8,162 10,469 Cost Added during May 510,398 656,386 Total Cost to account for: 518,560 666,855 Total Cost to account for: 1,185,415 COST PER EQUIVALENT UNIT: Material Conversion Total cost added during the year 518,560 666,855 Equivalent Units 11,200 10,950 Cost per Equivalent unit 46.3 60.9 TOTAL COST ACCOUNTED FOR: Units started and Transferred out (10900 units) Equivalent unit Cost per EU Total Cost Material 10,900 46.3 504670 Conversion Cost 10,900 60.9 663810 Total Cost of Units completed and transferred out: 1168480 Ending Work in process (500 units) Equivalent unit Cost per EU Total Cost Material 300 46.3 13890 Conversison Cost 50 60.9 3045 Total cost of Ending Work in process: 16,935 Total Cost of completed units accounted for 1,185,415 Rreq a: Equivalent unit of material: 11200 Req b: Equivalent unit of converrsion: 10950 units Req c: cost per equivalent unit of material: $46.30 per unit Req d: Cost per equivavlent unit of conversion: $ 60.90 per unit Req e: Cost of Goods transfrred out: $ 1168480

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