x x/M chapter D6 Fundaments tpo x Graham Petrole um Proo X1p Cernett Registratio

Question

x x/M chapter D6 Fundaments tpo x Graham Petrole um Proo X1p Cernett Registration- en' t secure ezto.m You did not receive full credit for this question in a previous atte points aham Petroleum produc peline The costs of the resources used by Graham in May consist of the following es ol On May 1,thad no work-in-process inventory Ii started production of 223 million barrels of ail in May and shipped 18 million barrels in the Matenals Conversion costs (labor and overhead) 2,751 million s 3,310 million amount in work-in Required: The production supervisor estimates process ending inventory as of May 31 that the ending work in process is 60 percent complete on May 31 Compute the cost of oil shipped in the pipeline and the (Do not round Intermediate calculations Enter your answers in millions. Por exampl cost ot od shipped in the pipeline work in-process ending inventory 452minion References Book & Resources Worksheet 0 12/2/2017

Explanation / Answer

Calculate equivalent unit :

Calculate cost per equivalent unit :

cost of oitl shipped in the pipeline = (13.16268+15.83732)*188 = 5452

Cost of ending work in process = (13.16268+15.83732)*21 = 609

Physical unit % material % conversion cost Unit transferred out 188 100% 188 100% 188 Ending work in process 35 60% 21 60% 21 Equivalent unit 209 209

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