die Company adds direct materials at the beginning of the process and adds conve

Question

die Company adds direct materials at the beginning of the process and adds conversion coss through Data for the Finishing Department follows WIP. April 1 Transferred-in costs in WIP. April Direct materials (100%) in WIP, April 1 Conversion costs (70%) in WIP, April 1 Units transferred-in Transferred-in Units completed April direct materials cost April conversion costs WIP April 30 2,000 units $79,940 400 7,000 costs during April $550, 900 1,000 $155,500 243,250 18,000 units | 00% for materials and 30% for conversion costs) The cost per equivalent unit for conversion costs would be closest to A) $5.83. B) $6.07. C) $4.59. D) S5.05. 24) Please use the information from Question 23. The cost per equivalent unit for direct materials costs would be closest to A) $4.39 C) $3.88 D) $3.05 B) $3.79 25) Please use the information from Question 23. The cost of units completed and transferred out would be closest to A) $751,488 B) $949,650 C) $802,370 D)$1.081,41o 26) Please use the information from Question 23. The cost of units in ending work in process would be closest to A) $278,802 B) $352,260 C) $105,678 D)$159,840

Explanation / Answer

UNITS TO ACCOUNT FOR: Beginning Work in Process units 12,000.00 Add: Units Started in Process 47,000.00 Total Units to account for: 59,000.00 UNITS TO BE ACCOUNTED FOR: Units started and completed 41,000.00 Ending Work in Process 18,000.00 Total Units to be accounted for: 59,000.00 Equivalent Units: Transferred in Cost Material Cost Conversion Cost % Completion Units % Completion Units % Completion Units Units started annd completed 100% 41,000.00 100% 41,000.00 100% 41,000.00 Ending Work in Process 100% 18,000.00 100% 18,000.00 30% 5,400.00 Total Equivalent units 59,000.00 59,000.00 46,400.00 TOTAL COST TO ACCOUNT FOR: Transferred-in Material Conversion Beginning work in Process 79,940 24420 27,400 Cost Added during May 550,900 155,500 243,250 Total Cost to account for: 630,840 179,920 270,650 Total Cost to account for: 1,081,410 COST PER EQUIVALENT UNIT: Transferred-in Material Conversion Cost added during the period 630,840 179,920 270,650 Equivalent Units 59,000.00 59,000.00 46,400.00 Cost per Equivalent unit 10.69 3.05 5.83 TOTAL COST ACCOUNTED FOR: Units Completed and Transferred out (41000 units) Equivalent unit Cost per EU Total Cost Transferred-in cost 41,000 10.69 438290 Material cost 41,000 3.05 125050 Conversion Cost 41,000 5.83 239030 Total Cost of Units completed and transferred out: 802370 Ending Work in Process (18000 units) Equivalent unit Total Cost Transferred-in cost 18,000.00 10.69 192420 Material cost 18,000.00 3.05 54900 Conversion Cost 5,400.00 5.83 31482 Total cost of Ending Work in process: 278,802 Total Cost accounted for: 1,081,172 Q23. Answer is A. $ 5.83 Q24. Answer is D. $ 3.05 Q25. Answer is C. $ 802370 Q26. Answer is A. $ 278802

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