Computing Unit Cost for Department and for Completed Units with Beginning Invent

Question

Computing Unit Cost for Department and for Completed Units with Beginning Inventory

a. Determine the unit cost for the month in Blending. Round your answer to the nearest cent.
$ per unit

b. Determine the total cost of the products transferred to finished goods.
$

c. Determine the total cost of the ending work in process inventory in Blending.
$

Cost of Production Summary, One Department; no Beginning Work in Process

Required:

Prepare a cost of production summary for February. Round unit costs to the nearest cent, if necessary.

Prepare a cost of production summary for February. Round unit costs to the nearest cent, if necessary.

Explanation / Answer

Blending Department Equivalent Units Flow Of Units Physical Units Total cost Units to be accounted for Beginning work in process inventory 1000 Units started this period 7800 Total u nits to be accounted for    8800 Units accounnted for: Completed and transferred out (b) 8200 8200 Ending work in progress inventory©   600 200 Total units to be accounted for (f)      8800 8400 Flow of Cost Cost in the begnning work in progress inventory(200+500+300) 1000 1000 Cost added from mixing department current period 78000 78000 Cost added in current period (3328+10000+6672) 20000 20000 Total Cost to be accounted for (e)     99000 99000 Cost per equivalent unit (a)    (e/f) 11.79 11.79 Ans A Cost accounted for Cost assigned to units transferred out (a*b) Ans B 96643 96643 11.79*8200 Ans B Cost in ending work in progress inventory (a*c)   2357 2357 11.79*200 Ans C Total Cost accounted for    99000.00 99000.00 Production cost Equivalent Units Flow Of Units Physical Units Total cost Units to be accounted for Beginning work in process inventory 0 Units started this period 70000 Total u nits to be accounted for    70000 Units accounnted for: Completed and transferred out (b) 60000 60000 Ending work in progress inventory©   10000 2500 Total units to be accounted for (f)      70000 62500 Flow of Cost Cost in the begnning work in progress inventory 0 0 Cost added in current period (3328+10000+6672) 20000 20000 Total Cost to be accounted for (e)     20000 20000 Cost per equivalent unit (a)    (e/f) 0.32 0.32 Cost accounted for Cost assigned to units transferred out (a*b) Ans B 19200.00 19200.00 Cost in ending work in progress inventory (a*c)   800.00 800.00 Total Cost accounted for    20000.00 20000.00

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