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

Question

cvg.cengagenow.com Week 11-Determining the Si Login Cengage CengageNOW I Online teachin.. Cvg.cengagenow.com Week 11 Login Work in Process-Mixing Dept $Amt #units %completed SAmt #units %completed Beg Inventory $6,750 5,400 60% +Cost of units nits transferred out 586,305 59,600 100% transferred in $64,960 58,000 $9,600 $6,336 +Direct Labor +Factory Overhead applied $1,341 3,800 25% End Inventory Inventory in process, July 1, 5,400 units (60% complete) Direct materials cost incurred in July, 58,000 units Direct labor cost incurred in the period Factory overhead applied in the period $6,750 64,960 9,600 6,336 $87,646 Total production costs to account for 59,600 units were completed and transferred out 3,800 units remain in WIP 25% complete Total whole units to account for Beginning WIP Started & completed Ending WIRP 5,400 Beginning inventory 5,400 54,200 3,800 63,400 Units transferred in 58,000 63,400 Equivalent units: 2,160 54,200 950 57,310 Cost of WIP: Beginning WIPX 4096 Started & completed Ending WIP x 25% 3,049 76,506 1,341 $80,896 s3,049 83,256 1,341 $87,646 +6,750

Explanation / Answer

37000

cost element current period cost Beginning WIP completed units less opening WIP closing equivalent unit current total equivalent units cost per unit material 19874 0 37000    [50400-13400] 15300 52300    [37000+15300] 19874/52300= .38 conversion 71300 9380   [13400(1-.30COMPLETE)]

37000

1530    [15200*.1 47910    [9380+37000+1530] 71300/47910=1.488 91174

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