ONLY COMPLETE THE TABLE BELOW : During April, the production department of a pro
ID: 2430535 • Letter: O
Question
ONLY COMPLETE THE TABLE BELOW:
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 68,000 were in process in the production department at the beginning of April and 272,000 were started and completed in April. April's beginning inventory units were 75% complete with respect to materials and 25% complete with respect to conversion. At the end of April, 90,000 additional units were in process in the production department and were 90% complete with respect to materials and 40% complete with respect to conversion.Explanation / Answer
1) Total costs to account for: Costs of beginning work in process $ 1,74,580 Costs incurred this period Direct Materials $ 10,06,400 Conversion $ 7,28,770 $ 17,35,170 Total cost to account for $ 19,09,750 Total costs accounted for $ 19,09,750 Difference due to rounding cost/unit 0 Working: Material Conversion Total Costs of beginning work in process $ 1,51,350 $ 23,230 $ 1,74,580 Costs incurred this period $ 10,06,400 $ 7,28,770 $ 17,35,170 Total $ 19,09,750 2) Unit Reconcilation: Units to account for: Beginning units in process 68,000 Units started during this period 3,62,000 Total units to be accounted for 4,30,000 Total Units accounted for: Units completed 3,40,000 Units in ending work in process 90,000 Total Units accounted for 4,30,000 3) Units % Materials EUP-Materials % Conversion EUP-Conversion Units completed 3,40,000 100% 3,40,000 100% 3,40,000 Units in ending work in process 90,000 90% 90,000 40% 36,000 Equivalent units of production 4,30,000 4,30,000 3,76,000 4) Materials Conversion Beginning Cost $ 1,51,350 $ 23,230 Cost incurred during this period $ 10,06,400 $ 7,28,770 Total costs $ 11,57,750 $ 7,52,000 / Equivalent units of production 4,30,000 3,76,000 Cost per equivalent unit of production $ 2.69 $ 2.00 5) Cost assignment and reconcilation: EUP Cost per Total cost EUP Costs transferred out: Direct Materials 3,40,000 $ 2.69 $ 9,15,430 Conversion 3,40,000 $ 2.00 $ 6,80,000 Total transferred out $ 15,95,430 Costs of ending work in process: Direct Materials 90,000 $ 2.69 $ 2,42,320 Conversion 36,000 $ 2.00 $ 72,000 Total ending work in process $ 3,14,320 Total costs accounted for $ 19,09,750
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.