UNITS Step 1 Physical Units Units to be Accounted for 3,000 Beginning Work in Pr

Question

UNITS Step 1 Physical Units Units to be Accounted for 3,000 Beginning Work in Process Started into Production Step 2 Equivalent Units Materials Conversion Total Units 7,300 Units Accounted for as Follows: Completed and Transferred Ending Work in Process 3,300 Total Units COSTS Step 3: Cost per Equivalent Unit Materials Conversion Total Cost S 15,500 12,100 52,400195,300 Cost of Beginning Inventory Current Period Costs Total Cost of Units in Process Equivalent Units Cost per Equivalent Unit Cost to be Accounted for: Step 4: Reconcile Work in Process Materials Conversion Total Cost Beginning Work in Process Current Perjod Costs $ 15,500 $ 12,100 152.400195,300 Total Costs Cost Accounted for as Follows Units Completed and Transferred Ending Inventory

Explanation / Answer

Step 1:

Started into production

= Total units to be accounted for - beginning WIP

= 7300 - 3000 = 4300 units

Ending WIP

= Total units to be accounted for - Units completed and transferred = 7300 - 3300 = 4000 units

Step 2:

Step 3:

Step 4:

Units to be accounted for Units Equivalent Units Matrial Conversion Units completed and transferred 3300 3300 3300 Ending WIP 4000 4000 2800 Total 7300 7300 6100

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