The following data for Wix Corp March 2013 Percent Completed Units Materials Con
ID: 2418098 • Letter: T
Question
The following data for Wix Corp
March 2013
Percent Completed
Units
Materials
Conversion
Work-In-Process, Beginning
60,000
60%
30%
Started into production
210,000
Completed and Transferred Out
200,000
Work-In-Process, Ending
70,000
80%
40%
Work-In-Process, Beginning
$22,600
$16,600
Costs added during period
$450,000
$353,000
What are the total units to be accounted for?
What are the total costs for March?
What are the equivalent units for materials?
What are the equivalent units for conversion?
What is the cost of materials per equivalent unit?
What is the value of Materials Work-in-Process Mar 31st?
What is the cost of conversion per equivalent unit?
What is the value of Conversion Work-in-Process Mar 31st?
March 2013
Percent Completed
Units
Materials
Conversion
Work-In-Process, Beginning
60,000
60%
30%
Started into production
210,000
Completed and Transferred Out
200,000
Work-In-Process, Ending
70,000
80%
40%
Work-In-Process, Beginning
$22,600
$16,600
Costs added during period
$450,000
$353,000
Explanation / Answer
1) Total units to be accounted for = opening units + units introduced
60000 + 210000 =270000
2)Total costs for march = Opening cost + costs incurred during period =
Materials = $22600 + $450000 =$472600
Conversion = $16600 + $353000 =$369600
3) Calculation of equivalent units of production
Particulars Units Materials Conversion
% Units % Units
Opening work in progress 60000 40% 16000 70% 42000
Units introduced (210000)
Units finished 200000 100% 200000 100% 200000
Work in progress 70000 80% 56000 40% 28000
272000 270000
4)Cost per equivalent unit
Particulars Materials Conversion
Opening work in progress $22600 $16600
cost during period $450000 $353000
Total (A) $472600 $369600
Equivalent units (B) 272000 270000
Cost per unit (A/B) $1.7375 $1.368
Value of work in progress
Materials $1.7375 * 56000 = $97300
Conversion $1.368 * 28000 = $38304
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