7.) The following production data were taken from the records of the Finishing D
ID: 2431235 • Letter: 7
Question
7.) The following production data were taken from the records of the Finishing Department for the month of June: Inventory in process, June 1 (15% complete as to conversion) 4,000 units Completed units during June 71,000 units Ending inventory (60% complete as to conversion) 7,000 units Complete the chart below and determine the number of equivalent units of production for materials and conversion for June 30. Determine the cost per unit if the Materials cost incurred was $90,500 & Conversion cost was $225,100 All materials were added at the beginning of the process. (10 points) Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, June 1 0 Started and completed in June Transferred to Packaging Department in June Inventory in process, June 30 Total units to be assigned costs Costs Total cost for June total equivalent units cost per equivalent unit $ $ 7.) The following production data were taken from the records of the Finishing Department for the month of June: Inventory in process, June 1 (15% complete as to conversion) 4,000 units Completed units during June 71,000 units Ending inventory (60% complete as to conversion) 7,000 units Complete the chart below and determine the number of equivalent units of production for materials and conversion for June 30. Determine the cost per unit if the Materials cost incurred was $90,500 & Conversion cost was $225,100 All materials were added at the beginning of the process. (10 points) Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, June 1 0 Started and completed in June Transferred to Packaging Department in June Inventory in process, June 30 Total units to be assigned costs Costs Total cost for June total equivalent units cost per equivalent unit $ $Explanation / Answer
Computation of Number of Equivalent units of production for materials & coversion for june,30
Units to be assigned costs
Equivalent units
Whole units
Direct Materials
Conversion
Inventory in process ,June1
4000 units
0
3400 units
Started&CompletedinJune
67000 units
67000units
67,000 units
Transferred to Packaging Department in June
71000 units
67000 units
70400 units
Inventory in process, June 30
7000 units
7000 units
4200 units
Total units to be assigned costs
74,000 units
74600 units
Costs
Total cost for June
$ 90,500
$ 2,25,100
Total Equivalent units
74000 units
74600 units
Cost per Equivalent unit
$ 1.22/unit
$ 3.02/unit
Computation of Number of Equivalent units of production for materials & coversion for june,30
Units to be assigned costs
Equivalent units
Whole units
Direct Materials
Conversion
Inventory in process ,June1
4000 units
0
3400 units
Started&CompletedinJune
67000 units
67000units
67,000 units
Transferred to Packaging Department in June
71000 units
67000 units
70400 units
Inventory in process, June 30
7000 units
7000 units
4200 units
Total units to be assigned costs
74,000 units
74600 units
Costs
Total cost for June
$ 90,500
$ 2,25,100
Total Equivalent units
74000 units
74600 units
Cost per Equivalent unit
$ 1.22/unit
$ 3.02/unit
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