More Info On March 1, the Mixing Department had 500 rolls of paper in process. D

Question

More Info On March 1, the Mixing Department had 500 rolls of paper in process. During March, the Mixing Department completed the mixing process for those 500 rolls and also started and completed the mixing process for an additional 3,800 rolls of paper. The department started but did not finish the mixing process for an additional 600 rolls, which were 20% complete with respect to both direct materials and conversion work at the end of March. Direct materials and conversion costs are incurred evenly throughout the mixing process. Print Done

Explanation / Answer

Beggining units 500 Transferred out 4,300 Started intro production 4400 Ending units 600 Units accounted for 4900 4900 Equivalent units Material Conversion cost Units transferred                      A 4300 4300 Ending Units 600 600 Completion 20% 20% B 120 120 Total units 4420 4420 Cost per equivalent units Particulars Material Conversion cost total As at beginning 420 245 665 Added during the month 5105 6385 11490 Cost to be accounted for 5525 6630 12155 Total eqivalent units 4420 4420 Cost per equivalent unit 1.25 1.50 2.75 Cost per equivalent unit = Cost to be accounted for / Total equivalent units Cost of ending work in progress Conversion cost Particulars Material Total Ending units 600 600 Cost per equivalent units 1.25 1.50 Completion 20% 20% Total cost 150 180 330 Cost of goods transferred Conversion cost Particulars Material Total Number of units 4300 4300 Cost per equivalent units 1.25 1.50 2.75 Total amount 5375 6450 11825 1 Work in progress mixing department 11490                      Raw material inventory 5105                      Wages payable 3305                       Manufacturing overheads 3080 Finished goods inventory 11825                Work in progress Mixing department 11825

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