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

70.2K

Verified Solution

Question

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 in Process—Assembly Department
Bal., 1,600 units, 35% completed 17,440 To Finished Goods, 29,600 units ?
Direct materials, 29,000 units @ $9.50 275,500
Direct labor 84,600
Factory overhead 39,258
Bal. ? units, 45% completed ?
a. Based on the above data, determine thedifferent costs listed below.
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.

Work in Process—Assembly Department
Bal., 1,600 units, 35% completed	17,440	To Finished Goods, 29,600 units	?
Direct materials, 29,000 units @ $9.50	275,500
Direct labor	84,600
Factory overhead	39,258
Bal. ? units, 45% completed	?

Answer & Explanation Solved by verified expert

3.8 Ratings (470 Votes)

Solution Assembly Department Computation of Equivalent unit FIFO Particulars Physical units Material Conversion Units to be accounted for Beginning WIP Inventory 1600 Units started this period 29000 Total unit to be accounted for 30600 Units Accounted for Units completed and transferred out From beginning inventory Material 0 Conversion 65 1600 0 1040 See Answer

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

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.