Equivalent Unit Computations Units % Complete Equivalent Units Beginning Invento

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Equivalent Unit Computations Units % Complete Equivalent Units Beginning Inventory Units Started Total units available for completion Units in Ending Inventory Units complete Total Equivalent Units Cost per Equivalent Unit Beginning Inventory Raw Materials Labor Overhead Total Product Costs Cost per Unit Allocation of Product Cost Cost Transferred to Finished Goods Cost in Ending Inventory Total Product Costs Job-Order, Process, and Hybr Beczall that the 2014 ending balance in the Work in Process (WIP) accoun was S26,000. ly, this is the beinning WIP balance for 2015. There were 110 units of product in VIP inventory. Al starited 1,840 units of product during 2015. Ending WIP inventory ed of 90 units that were 60 percent complete. beginning WIP ive Required a cost of production report by filling in the cells that contain question marks Equivalent Unit Computations Equivalent Units Units % Complete Begirning inventory Units started Tortal units available for completion rvts in ending inventory Crits complete 110 1,840 (90) 1,860 100% a equivalent units 1,914 Cost per Equivalent Unit CostUnitsCost per Unit Begnning inventory aw materials $26,000 verhead ra product cost 58,000 1,914 Allocation of Product Cost ist transfe s Festered to fnished goods ending nventory oduct cost $235422 fo

Explanation / Answer

Equivalent Unit Computations Units % Complete Equivalent Units Beginning Inventory 110 Units Started 1840 Total units available for completion 1950 Units in Ending Inventory (90) 60% 54 Units complete 1860 100% 1860 Total Equivalent Units 1914 Cost per Equivalent Unit Beginning Inventory $26,000 Raw Materials $62,000 Labor $89,422 Overhead $58,000 Total Product Costs $235,422 1914 Cost per Unit(235422/1914) $123 Allocation of Product Cost Cost Transferred to Finished Goods(1860×123) $228,780 Cost in Ending Inventory(54×123) $6,642 Total Product Costs $235,422

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