Dirt Cleaners, Inc. has the following production data for January: Transferred o

Question

Dirt Cleaners, Inc. has the following production data for January:

                  Transferred out ................................         50,000 units

                  Ending Work in Process ..................          6,000 units

The units in ending Work in Process are 100% complete for materials and 60% complete for conversion costs. There is no beginning Work in Process. The materials cost is $10 per completed EUP and conversion costs are $11 per completed EUP.

Fill in the blanks below based on the information above:

A.    The costs to be assigned to the units transferred out is $[1050000].

B.    The costs to be assigned to the units in the ending Work in Process is $[99600]

C. The total cost to be accounted for the period is $[1149600].

Explanation / Answer

Total cost assigned to units transferred out = (10+11)*50000 = 1050000

Total cost assigned to ending work in process = (6000*10+3600*11) = 99600

Total cost to be accounted for = (1050000+99600) = 1149600

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