The Finishing Department started the month with 200 units in process, received 3,500 units from the Assembly Department, and transferred 3,600 units to the finished goods storage area. All direct materials are added at the beginning of the process. The units in process at the end of the month are 45% complete with respect to conversion costs. The department uses the weighted-average method. The Finishing Department incurred the following costs: Transferred inSDirect MaterialsConversion CostsTotalBeginning WIPAdded ThisMonthTotal2,720 $47,600 $50,3204207,3507,7701,1506,1407,290$4,290 $61,090 $65,380 8. How many units are still in process at the end of the month?9. Compute the equivalent units of production for the Finishing Department.10. Determine the cost per equivalent unit for transferred in, direct materials, andconversion costs.11. Determine the cost to be transferred to Finished Goods Inventory.

8. Units in process at the end of the monthBeginning work in process (WIP): 200 unitsUnits started…

Transferred in S Direct Materials Conversion Costs Total Beginning WIP Added This Month Total 2,720 $ 47,600 $ 50,320 420 7,350 7,770 1,150 6,140 7,290 $ 4,290 $ 61,090 $ 65,380 8. How many units are still in process at the end of the month? 9. Compute the equivalent units of production for the Finishing Department. 10. Determine the cost per equivalent unit for transferred in, direct materials, and conversion costs. 11. Determine the cost to be transferred to Finished Goods Inventory.

Transferred in S Direct Materials Conversion Costs Total Beginning WIP Added This Month Total 2,720 $ 47,600 $ 50,320 420 7,350 7,770 1,150 6,140 7,290 $ 4,290 $ 61,090 $ 65,380 8. How many units are still in process at the end of the month? 9. Compute the equivalent units of production for the Finishing Department. 10. Determine the cost per equivalent unit for transferred in, direct materials, and conversion costs. 11. Determine the cost to be transferred to Finished Goods Inventory.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter6: Process Costing

Section: Chapter Questions

Problem 32P: Refer to the data in Problem 6.31. Assume that the FIFO method is used. Required: 1. Prepare a...

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Materials are added at the beginning of a production process, and ending work in process inventory is 30% complete with respect to conversion costs. Use the information provided to complete a production cost report using the weighted-average method.
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