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Bookmarks People Window Help ology. High-speed photog.. Heltl's Kitchen Amazon.com cishOur Anias Oner Bookmarks Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Depertment of Oak Rdge Steel Company are $2.15 and $2.70, respectivelyThe q units to be assighed costs are as follows: Equivalent Units Inventory in process, July Started and completed during July Transferred out of Roling (completed) Inventory in process, July 31 Total units to be assigned costs 1,900 31,000 32,900 31,000 1,000 4,000 The beginning work in precess inventory on July 1 had a cost of $1,100.Determine the cost of completed and transferred-out production, the ending work in prooess inventory, and the botal couts assigned by the Rolling Department Completed and transferred-out production Inventory in process, ending Total costs assigned by the Roling Department163.29 x 51450X 1,840 63,290 work in process wouild have been th The assumption would be that units that had been in beginning PrevicusNet 0 ?

Explanation / Answer

Solution:

Cost of unit completed and transferred out = Opening WIP + cost of completion of opening WIP + Cost of unit started and completed

= $1,100 + 1900 * $2.70 + 31000*$2.15 + 31000*$2.70

= $156,580

Ending WIP = Equivalant unit of material in ending WIP * cost per equivalant unit + Equivalant unit of conversion in ending WIP * cost per equivalant unit

= 4000*$2.15 + 1200*$2.70

= $11,840

Total cost assigned by the rolling department = Cost of unit completed and transferred + Cost of ending WIP

= $156,580 + $11,840 = $168,420

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