A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process inventory; 37000 units were completed and transferred out; and there were 24000 units in the ending work in process inventory that were 50% complete as to conversion costs. During July, $140300 materials costs and $105210 conversion costs were charged to the department. The unit production costs for materials and conversion costs for July was Materials O $2.30 $2.86 $2.30 $3,79 Conversion Costs $2.15 $1.72 $1.72 $2.84
A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of July, there was no beginning work in process inventory; 37000 units were completed and transferred out; and there were 24000 units in the ending work in process inventory that were 50% complete as to conversion costs. During July, $140300 materials costs and $105210 conversion costs were charged to the department. The unit production costs for materials and conversion costs for July was Materials O $2.30 $2.86 $2.30 $3,79 Conversion Costs $2.15 $1.72 $1.72 $2.84
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. For the
month of July, there was no beginning work in process inventory; 37000 units were completed and transferred out; and there were
24000 units in the ending work in process inventory that were 50% complete as to conversion costs. During July, $140300 materials
costs and $105210 conversion costs were charged to the department.
The unit production costs for materials and conversion costs for July was
Materials
$2.30
$2.86
$2.30
$3.79
Conversion
Costs
$2.15
$1.72
$1.72
$2.84
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