Data for the Assembly Department for june 2015 are work in process, beginning in

Question

Data for the Assembly Department for june 2015 are work in process, beginning inventory Direct materials (100% complete) Conversion costs (50% complete) Units started during june Work in process, ending inventory direct materials (100% complete) Costs for june 2015; Work in process, beginning inventory $91,000 Direct materials $135,500 Direct material costs added during june $601,500 conversion costs added during june $401,500 What amount of conversion costs is assigned to the ending Work - in - Process account for A. $60, 135 B. $306,86 C. $96,746.32

Explanation / Answer

Answer. $60135 Units Equivalent Units Material Conversion Cost WIP in the begining 340 340 170 Started During June 980 Units to Account for 1320 Units Completed and Transferred 1130 1130 1130 WIP in the end 190 190 142.5 Units accounted For 1320 1320 1272.5 Calculation of Cost per Equivalent Unit Material Conversion Cost Total WIP in the Beginning                91,000          135,500                226,500 Cost Incurrecd during July             601,500          401,500            1,003,000 Total (A)             692,500          537,000            1,229,500 Units Units Completed Equivalent Units 1130 1130 Ending WIP 190 142.5 Total (B) 1320 1272.5 Cost per Equivalent Units (C = A / B)                524.62            422.00 Cost Reconcilation Particulars Amount Total Cost to Account For      1,229,500 Cost of Completed units Material             592,822 Labour             476,864 Total Cost of Completed Goods      1,069,686 Cost of ending WIP Material                99,678 Labour                60,136 Total Cost of Ending WIP          159,814 Total Cost Accounted For      1,229,500

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