7. XYZ Manufacturing Co collected the following data for the extrusion departmen

Question

7. XYZ Manufacturing Co collected the following data for the extrusion department Ending WIP % Complete (CC) DM Costs Added DL Costs Added MOH Costs Added 60% $425,000 $350,000 $120,000 Beginning WIP Production Started in Units Units Transferred to Next Department Ending WIP % Complete (DM) 100,000 80,000 50% Extrusion is the first in a series of three processes with direct materials and conversion costs added throughout the process. Complete the Cost Production Report below.(10pts) Equivalent Units Whole Transferred Direct Conversion Units In Materials Costs UNITS TransferredDct ConversionTotalCosts COSTS In Materials Costs

Explanation / Answer

425000/90000

=$ 4.72

Equivalent Units Transfered in Direct material Conversion cost Units completed and transfered out 0 80000 80000 Ending WIP [100000-80000completed ]=20000 0 20000*50% =10000 20000*60% = 12000 Equivalent units 0 90000 92000 COST Beginning WIP 0 0 0 0 Cost Incurred during the period 0 425000 350000+120000=470000 895000 Total cost to account for 0 425000 470000 895000 cost per equivalent unit 0

425000/90000

=$ 4.72

470000/92000=$ 5.11

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