2. Muffy Painting Company has the following production data for March. End. Work in Process Inv. Beg. Work Units Completed % Complete as to Month in Process Inv. and Transferred Out Units Conversion Cost March 3,000 42,000 12,000 75% Instructions Compute equivalent units of production for March for both materials and conversion costs. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Equivalent Units of Production Quantities Physical Units Units to be accounted for Work in process inventory, 3/1 Started into production Total units to be accounted for Units accounted for Completed and transferred out Work in process inventory, 3/31 Total units accounted for Materials Conversion Costs

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 14E: Cost per equivalent unit The following information concerns production in the Forging Department for...
icon
Related questions
Question
2. Muffy Painting Company has the following production data for
March.
End. Work in Process Inv.
Beg. Work
Units Completed
% Complete as
to
Month
in Process Inv.
and Transferred Out
Units
Conversion Cost
March 3,000
42,000
12,000
75%
Instructions
Compute equivalent units of production for March for both materials
and conversion costs. Materials are entered at the beginning of the
process. Conversion costs are incurred uniformly throughout the
process.
Equivalent Units of Production
Quantities
Physical Units
Units to be accounted for
Work in process inventory, 3/1
Started into production
Total units to be accounted for
Units accounted for
Completed and transferred out
Work in process inventory, 3/31
Total units accounted for
Materials
Conversion Costs
Transcribed Image Text:2. Muffy Painting Company has the following production data for March. End. Work in Process Inv. Beg. Work Units Completed % Complete as to Month in Process Inv. and Transferred Out Units Conversion Cost March 3,000 42,000 12,000 75% Instructions Compute equivalent units of production for March for both materials and conversion costs. Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Equivalent Units of Production Quantities Physical Units Units to be accounted for Work in process inventory, 3/1 Started into production Total units to be accounted for Units accounted for Completed and transferred out Work in process inventory, 3/31 Total units accounted for Materials Conversion Costs
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning