The charges to Work in Process-Assembly Department for a period, together with i

Question

The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Based on the above data, determine the different costs listed below. Cost of beginning work in process inventory completed this period. $ Cost of units transferred to finished goods during the period. $ Cost of ending work in process inventory. $ Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent.

Explanation / Answer

Answer:

1. Cost of beg WIP=(1600*9.57)+(1600*65%*4.5)=15312+4680=19992

2.Cost of units transferred to FG=(29600*(9.57+4.5)=416472

3. Ending WIP=(1000*9.57+450*4.5)=9570+2025=11595

Units Accounted For Material Conversion costs (units) Transferred out 29600 29600 29600 Work in process,dec 31 1000 1000 450 Total units 30600 30600 30050

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