The charges to Work in Process-Assembly Department for a period, together with i

Question

The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal, 1,600 units, 35% completed Direct materials, 29,000 units @ $9.50 Direct labor Factory overhead Bal. ? units, 45% completed Cost per equivalent units of $9.50 for Direct Materials and $4.20 for Conversion Costs. 17,440 To Finished Goods, 29,600 units 275,500 84,600 39,258

Explanation / Answer

1. Cost of beginning WIP completed this period = 1600 * 65% (4.2) = 4368

2. Cost of units transfered to finished goods = 405408

3 Cost of Ending Inventory = 1000 * 100% * 9.5 + 1000 * 45% * 4.2 = 11390

4. Cost per unit of completed WIP = 13.63

Beginning WIP Already Incurred 17440 completed this period 4368 Started and completed 28000 * 13.7 383600 405408

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