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

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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.,7,000 units, 55% completed 17,815 ToFinished Goods, 161,000 units ?
Directmaterials, 165,000 units @ $1.5 247,500
Directlabor 235,800
Factoryoverhead 91,700
Bal. ?units, 60% completed ?
Cost per equivalent units of $1.50 for Direct Materials and$2.00 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 inprocess inventory completed this period. $
2. Cost of units transferredto finished goods during the period. $
3. Cost of ending work inprocess inventory. $
4. Cost per unit of thecompleted beginning work in process inventory, rounded to thenearest cent. $

Work inProcess—Assembly Department
Bal.,7,000 units, 55% completed	17,815	ToFinished Goods, 161,000 units	?
Directmaterials, 165,000 units @ $1.5	247,500
Directlabor	235,800
Factoryoverhead	91,700
Bal. ?units, 60% completed	?

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4.3 Ratings (649 Votes)

UNITS TO ACCOUNT FOR Beginning Work in Process units 7000 Add Units Started in Process 165000 Total Units to account for 172000 UNITS TO BE ACCOUNTED FOR Units completed from Beginning WIP 7000 Units started and completed 154000 Ending Work in Process 11000 Total Units to be accounted See Answer

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1. Cost of beginning work inprocess inventory completed this period.	$
2. Cost of units transferredto finished goods during the period.	$
3. Cost of ending work inprocess inventory.	$
4. Cost per unit of thecompleted beginning work in process inventory, rounded to thenearest cent.	$