QUESTION 47 Griffith Company started its production operations on July 1. During

Question

QUESTION 47 Griffith Company started its production operations on July 1. During July, the silk-screening department completed 15,600 units There were 2,400 units in ending inventory which were 75% complete with respect to materials and 20% complete with respect to conversion costs. During July, the department accumulated materials costs of $40,890 and conversion costs of $69,948. (a) Calculate the cost of units transferred out. (b) Calculate the cost of the ending work in process Path: p Words 0 QUESTION 48 Weston Company's assembly department had 8,500 units in beginning inventory. Associated with these units were $17.200 in direct materials and $35,000 in conversion costs. During the period, the department incurred $79,800 in direct materials and $151,800 in conversion costs and started 40,000 units Ending inventory consisted of 3,000 units which were 100% complete with respect to materials and 40% complete with respect to conversion costs (a) Perform a unit reconciliation (b) Calculate the equivalent units for materials and conversion costs. (c) Calculate the cost per equivalent unit for materials and conversion costs. (d) Calculate the cost of units transferred out. (e) Calculate the cost of the ending work in process TTTArial

Explanation / Answer

47 Units transferred out=Units completed -Ending inventory=15600-2400=13200 units Equivalent units: Material Conversion Units transferred out 13200 13200 Ending inventory 1800 480 (2400*75%) (2400*20%) Total equivalent units 15000 13680 Cost per equivalent unit: Material Conversion Accumulated cost (a) 40890 69948 Total equivalent units (b) 15000 13680 Cost per equivalent units (a)/(b) 2.73 5.11 a) Cost of units transferred out=(13200*2.73)+(13200*5.11)=103488 b) Cost of ending work-in-process=(1800*2.73)+(480*5.11)=7366.80 48 a) Unit reconcilation: Beginning inventory 8500 Units started 40000 Units to be accounted for 48500 Transferred out units (Balancing) 45500 Ending inventory 3000 Units to be accounted for 48500 b) Equivalent units: Material Conversion Units transferred out 45500 45500 Ending inventory 3000 1200 (3000*100%) (3000*40%) Total equivalent units 48500 46700 c) Cost per equivalent unit: Material Conversion Beginning inventory Cost in $ 17200 35000 Cost incurred 79800 151800 Accumulated cost (a) 97000 186800 Total equivalent units (b) 48500 46700 Cost per equivalent units (a)/(b) 0.35 0.75 d) Cost of units transferred out=(45500*0.35)+(45500*0.75)=50050 e) Cost of ending work-in-process=(3000*0.35)+(1200*0.75)=1950

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.