XYZ Manufacturing Co.collected the following data for the extrusion department.

Question

XYZ Manufacturing Co.collected the following data for the extrusion department. Beginning WIP Production Started in Units Units Transferred to Next Department Ending WIP % Complete (DM) 60% $425,000 350,000 $120,000 Ending wip % Complete (CC) O 100,000 80,000 50% Costs Added DM DL Costs Added MOH Costs Added with direct materials and conversion costs throughout the process. Complete the Cost Production Report below.(10pts) Equivalent Units Whole Transferred Direct Conversion UNITS Units In Materials Costs 09.000 Conversion TotalCosts Transferred In Direct MaterialsCosts COSTS Completee

Explanation / Answer

EQUIVALENT UNITS UNITS WHOLE TRANSFERRED IN MATERIAL CONVERSION Beginning WIP 0 Units started and completed 100,000 Uunits to be accounted for 100,000 Units accounted for: Units completed 80000 0 80000 80000 Ending WIP 20000 0 10000 12000 Units accounted for: 100000 90000 92000 COST TRANSFERRED IN MATERIAL CONVERSION TOTAL COST Cost to account for: Cost of Beginning WIP 0 Current cost: material 425000 425000 labouor 350000 350000 Overheads 120000 120000 Total cost to account for 425000 470000 895000 Divide: Equivalent units 90000 92000 Cost per Equivalent units 4.7222 5.108696 Cost accounted for: Units completed and transferred out 377777 408696 786473 Ending WIP 47223 61304 108527 Total cost accounted for: 895000

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