The following data for Wix Corp March 2013 Percent Completed Units Materials Con
ID: 2418129 • 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
Mar-13 Percent Completed Units Materials Units Completed Conversion Units Completed Total Units Work-In-Process, Beginning 60,000 60% 36,000 30% 10,800 46,800 Started into production 2,10,000 Completed and Transferred Out 2,00,000 100% 2,00,000 100% 2,00,000 2,00,000 Work-In-Process, Ending 70,000 80% 56,000 40% 22,400 78,400 Total Units 2,92,000 2,33,200 3,25,200 Work-In-Process, Beginning 22,600 16,600 39,200 Costs added during period 4,50,000 3,53,000 8,03,000 Total Costs for March 4,72,600 3,69,600 8,42,200 The total units to be accounted for are 305,200. The total costs for March are $ 842,200. The equivalent units for materials are 292,000. The equivalent units for conversion are 233,200. The cost of materials per equivalent unit is $ 472,600 / 292,000 = 1.62 $ per unit The value of materials WIP March 31st is 56,000 units X 1.62 = 90720 $ The cost of conversion per equivalent unit is $ 369,600 / 233,200 = 1.58 $ per unit The value of Conversion WIP March 31st is 22,400 units X 1.58 = 35392 $
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.