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f Facebook AccessUH-University of WileyPLUS-2016SP-14% ×/ WileyPLUS \ G 1 Would Like To Get Some × .G Case #1 work in Process, × × -> C D edugenwileyplus.com/edugen/lti/main.un. balvo, Managerial Accounting, 5e WileyPLUS Help Assignment AssignmentOpen Assignment CALCULATOR PRINTER VERSION BACK NEXT Exercise 3-13 At the start of November, Penco Refinery had Work in Process inventory consisting of 4,900 units that were 80 percent complete with respect to materials and 50 percent complete with respect to conversion costs. The cost of the units was $40,700 ($28,400 of material cost and $12,300 of labor and overhead). During November, the company started 47,700 units and incurred $416,300 of material cost and $392,600 of labor and overhead. The company completed 49,700 units during the month, and 2,900 units were in process at the end of November. The units in ending Work in Process were 90 percent complete with respect to materials and 50 percent complete with respect to conversion costs ASSIGNMENT RESOURCES Homework#3-0 nCh.3 | | Exercise 3-1 Calculate the cost per equivalent unit for materials and conversion costs. (Round answers to 2 decimal places, e.g. 15.25.) evieW Review Results Study Ob Materials Conversion costs Cost per equivalent unit ebay LINK TO TEXT LINK TO TEXT Calculate the cost of items completed during November. (Round answer to 0 decimal places, e.g. 125.) Cost of items completed during November LINK TO TEXT LINK TO TEXT Calculate the cost of ending Work in Process. (Round answer to 0 decimal places, e.g. 125.) Cost of ending Work in Process ESP License Agreement Privacy Policy2000-2016 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. Version 4 13202/2016

Explanation / Answer

Particulars Direct Materials %completion Equivalent mat Conversion %completion Equivalent mat Opening WIP                4,900.00 100%                    4,900.00                4,900.00 100%                    4,900.00 Units started and completed(49700 -4900)              44,800.00 100%                 44,800.00              44,800.00 100%                 44,800.00 Closing WIP                2,900.00 90%                    2,610.00                2,900.00 50%                    1,450.00 Equivalent Units                 52,310.00                 51,150.00 Current Month Costs               416,300.00               392,600.00 Opening WIP Costs                 28,400.00                 12,300.00 Total Costs               444,700.00               404,900.00 Cost per Equivalent units                            8.50                            7.92 Units completed during November                 49,700.00                 49,700.00 Cost of Units completed during November               422,511.76               393,421.90 Ending WIP Units                    2,610.00                    1,450.00 Costof Ending WIP Units                 22,188.24                 11,478.10

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