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TImIng Technology, Inc., manufactures timing devices. During 20x1,2,500,000 units were completed and transferred to
finished-goods Inventory. On December 31,20x1, there were 420,000 units in work in process. These units were 51
percent complete as to conversion and 100 percent complete as to direct material. Finished-goods Inventory consisted of
1,000,000 units. Materlals are added to production at the beginning of the manufacturing process, and overhead is
applied to each product at the rate of 100 percent of direct-labor costs. There was no finished-goods inventory on January
1,201. A review of the Inventory cost records disclosed the following information:
4-a. Complete the following schedule as of December 31,20x1, to compute the cost of work-In-process Inventory.
4-b. Complete the following schedule as of December 31,201, to compute the cost of finished-goods inventory.
Answer is complete but not entirely correct.
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Req 4A
Req 4B
Complete the following schedule as of December 31,20x1, to compute the cost of work-in-process inventory. (Round "Cost
per equivalent unit" to 2 decimal places.)
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