The costs per equivalent unit of direct materials and conversion in the Rolling

Question

The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $0.90 and $0.40, respectively. The equivalent units to be assigned costs are as follows Equivalent Units Direct Materials Conversion Inventory in process, July 1 Started and completed during July Transferred out of Rolling (completed) Inventory in process, July 31 Total units to be assigned costs The beginning work in process inventory on July 1 had a cost of $1,120. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, ending Total costs assigned by the Rolling Department 0 32,000 32,000 3,000 35,000 1,900 32,000 33,900 1,500 35,400

Explanation / Answer

Completed and transferred out production 43480 =1120+(1900*0.4)+32000*(0.9+0.4) Inventory in process ending 3300 =(3000*0.9)+(1500*0.4) Total costs assigned by Rolling department 46780

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