cvg.cengagenow.com Week 11-Determining the Si Login Cengage CengageNOW I Online

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cvg.cengagenow.com Week 11-Determining the Si Login Cengage CengageNOW I Online teachin.. g question | Chegg.c Work in Process-Mixing Dept $Amt #units %completed SAmt #units %completed Beg Inventory $5,658 4,600 65% Units transferred out $90,150 61,600 100% Cost of units transferred in +Direct Labor $67,122 59,400 $12,000 +Factory Overhead $6,600 applied End Inventory: Inventory in process, July 1, 4,600 units (65% complete) Direct materials cost incurred in July, 59,400 units Direct labor cost incurred in the period Factory overhead applied in the period $1,229 2,400 35% 5,658 67,122 12,000 6,600 $91,380 Total production costs to account for 61,600 units were completed and transferred out 2,400 units remain in WIP, 35% complete Total whole units to account for: Units transferred out Ending inventory 4,600 59,400 64,000 61,600Beginning inventory 2,400 Units transferred in 64,000 Equivalent units: Completed units Ending WIPX 3596 61,600 840 62,440 Cost per equivalent unit: $91,380 / 62,440 = $1.46348

Explanation / Answer

Cost Element Opening WIP Value Current Period cost Total cost Completed units WIP Equivalent units Total equivalent units Cost per unit Materials $        7,312 $      18,737 $        26,049 34700 11000 45700 $        0.57 Converstion costs $      28,543 $      63,733 $        92,276 34700 4400 39100 $        2.36 $      35,855 $      82,470 $     118,325 $        2.93 Calculate the cost of: Completed units = 34700*2.93 = $     101,671 Ending WIP = 11000*0.57+4400*2.36 = $        16,654

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