The Blending Department of Luongo Company has the following cost and production

Question

The Blending Department of Luongo Company has the following cost and production data for the month of April osts: Work in process, April 1 Direct materials: 100% complete Conversion costs: 20% complete $122,000 85,400 $207,400 Cost of work in process, April 1 Costs incurred during production in April Direct materials Conversion costs $976,000 445,300 $1,421,300 Costs incurred in April Units transferred out totaled 20,740. Ending work in process was 1,220 units that are 100% complete as to materials and 40% complete as to conversion costs. Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of Apri aterials Conversion Costs The equivalent units of production

Explanation / Answer

computation of equivalent units of prodcution;

Cost per Equivalent unit;

Cost for Units transferred out and Ending Work in process;

Cost to be assigned to the units transferred out:

Cost to be assigned to the units of ending work in progress:

Equivalent units of production physical units Material Conversion Costs units accounted for % Completion units % Completion units Transferred out 20,740 100% 20,740 100% 20,740 Ending work in process 1,220 100% 1,220 40% 488 Equivalent units of Production 21,960 21,228

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