Cost of Units Completed and in ProcessThe charges to Work in Process—Assembly Department for...

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Accounting

Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,together with information concerning production, are as follows.All direct materials are placed in process at the beginning ofproduction.
Work inProcess—Assembly Department
Bal., 9,000 units, 60%completed 37,440 To Finished Goods,207,000 units ?
Direct materials,212,000 units @ $1.7 360,400
Direct labor 671,900
Factory overhead 261,340
Bal. ? units, 75%completed ?
Cost per equivalent units of $1.70 for Direct Materials and$4.40 for Conversion Costs.
a. Based on the above data, determine thedifferent costs listed below.
If required, round your interim calculations to two decimalplaces.
1. Cost of beginning work in process inventory completed thisperiod. $
2. Cost of units transferred to finished goods during theperiod. $
3. Cost of ending work in process inventory. $
4. Cost per unit of the completed beginning work in processinventory, rounded to the nearest cent. $
b. Did the production costs change from thepreceding period?
Yes
c. Assuming that the direct materials cost perunit did not change from the preceding period, did the conversioncosts per equivalent unit increase, decrease, or remain the samefor the current period?
Increase

Work inProcess—Assembly Department
Bal., 9,000 units, 60%completed	37,440	To Finished Goods,207,000 units	?
Direct materials,212,000 units @ $1.7	360,400
Direct labor	671,900
Factory overhead	261,340
Bal. ? units, 75%completed	?

Answer & Explanation Solved by verified expert

4.4 Ratings (631 Votes)

Solution a Assembly Department Computation of Equivalent unit FIFO Particulars Physical units Material Conversion Units to be accounted for Beginning WIP Inventory 9000 Units started this period 212000 Total unit to be accounted for 221000 Units Accounted for Units completed and transferred out From beginning inventory Material 0 Conversion 40 9000 0 3600 Started and completed currently 198000 198000 198000 Units in ending WIP Material 100 See Answer

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In: AccountingCost of Units Completed and in ProcessThe charges to Work in Process—Assembly Department for a...Cost of Units Completed and in ProcessThe charges to Work in Process—Assembly Department for a period,together with information concerning production, are as follows.All direct materials are placed in process at the beginning ofproduction.Work inProcess—Assembly DepartmentBal., 9,000 units, 60%completed37,440To Finished Goods,207,000 units?Direct materials,212,000 units @ $1.7360,400Direct labor671,900Factory overhead261,340Bal. ? units, 75%completed?Cost per equivalent units of $1.70 for Direct Materials and$4.40 for Conversion Costs.a. Based on the above data, determine thedifferent costs listed below.If required, round your interim calculations to two decimalplaces.1. Cost of beginning work in process inventory completed thisperiod.$2. Cost of units transferred to finished goods during theperiod.$3. Cost of ending work in process inventory.$4. Cost per unit of the completed beginning work in processinventory, rounded to the nearest cent.$b. Did the production costs change from thepreceding period?Yesc. Assuming that the direct materials cost perunit did not change from the preceding period, did the conversioncosts per equivalent unit increase, decrease, or remain the samefor the current period?Increase

1. Cost of beginning work in process inventory completed thisperiod.	$
2. Cost of units transferred to finished goods during theperiod.	$
3. Cost of ending work in process inventory.	$
4. Cost per unit of the completed beginning work in processinventory, rounded to the nearest cent.	$