Materials costs of $1,200,000 and conversion costs of $1,530,000were charged to a processing department...

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Accounting

Materials costs of $1,200,000 and conversion costs of $1,530,000were charged to a processing department in the month of September.Materials are added at the beginning of the process, whileconversion costs are incurred uniformly throughout the process.There were no units in beginning work in process, 20,000 units werestarted into production in September, and there were 5,000 units inending work in process that were 40% complete at the end ofSeptember. What was the total amount of manufacturing costsassigned to those units that were completed and transferred out ofthe process in September?

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Solution Computation of Equivalent unit of Production Particulars Physical Units Material Conversion Unit completed Transferred out 15000 15000 15000 Closing WIP 5000 Material 100 5000 Conversion 40 2000 Equivalent See Answer

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In: AccountingMaterials costs of $1,200,000 and conversion costs of $1,530,000were charged to a processing department in...Materials costs of $1,200,000 and conversion costs of $1,530,000were charged to a processing department in the month of September.Materials are added at the beginning of the process, whileconversion costs are incurred uniformly throughout the process.There were no units in beginning work in process, 20,000 units werestarted into production in September, and there were 5,000 units inending work in process that were 40% complete at the end ofSeptember. What was the total amount of manufacturing costsassigned to those units that were completed and transferred out ofthe process in September?