Print Item Cost of Units Completed and in Process at the beginning of production

Question

Print Item Cost of Units Completed and in Process at the beginning of production. To Finished Goods, 115,000 units Bal., 5,000 units, 45% completed Direct materials, 118,000 units $1.5 Factory overhead Bal. 2 units, 60% completed Cost per equivalent units of $1.50 for Direct Materials and $3.90 for Conversion Costs. 128,345 a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory compieted this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c. Assuming that the direct materials cost per unit did not change from the preceding period, did the same for the current period? Previous Next

Explanation / Answer

Whole Units Eq unit-direct material Eq unit-conversion Beginning WIP 5000 0 2750 55% of 5000 add:Started and Completed (115000 FG-5000) 110000 110000 110000 100% transferred to finished goods 115000 110000 112750 add: Finished Goods in process (5000+118000-115000) 8000 8000 4800 60% Total Units of production 123000 118000 117550 Direct Material 177000 118000 1.5 Conversion (330100+128345) 458445 117550 3.9 Total 5.4 1 Units 5000 Completed 45% 2250 Completed this period 55% 2750 Conversion cost per unit 3.9 Total Conveersion cost 2750*3.9 10725 Operning Cost 15600 Total Cost (10725+15600) 26325 2 Eq unit-direct material Eq unit-conversion Total Equvalent units transferred to FG 110000 112750 Cost per unit 1.5 3.9 Total Cost 165000 439725 604725 3 Ending Work in process 8000 4800 Cost per unit 1.5 3.9 Total Cost 12000 18720 30720 4 Cost of beginning wip (From -1) 26325 Units 5000 Per Unit Cost (Cost/Units) 5.265 b. Yes it changes from 5.265 to 5.4 c. It will increase

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

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