Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cost of units completed and in process the charges

Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for...

70.2K

Verified Solution

Question

Accounting

image
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 proces at the beginning of production Work in Process-Assembly Department Bal., 1,600 units, 35% completed 17,440 To Finished Goods, 29,600 units Direct materials, 29,000 units 275,500 $9.50 Direct labor 84,600 Factory overhead 39,258 Bal. 2 units, 45% completed Cost per equivalent units of $9.50 for Direct Materials and $4.20 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period. 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed peginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? C. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students