Ee 89. Beginning WIP inventoryUnits started into production this periodUnits completed and transferred outEnding WIP inventoryCosts in beginning inventoryCurrent-period costs16,900 units (70% complete as to materials; 758 complete.as to conversion costs)25,000 units32,900 units9,000 units (55% complete as to materials; 55% completeas to conversion costs)$ 131,000 materials: $169,000 conversion costs.$ 250,000 materials; $431,000 conversion costs Units accounted for as follows:Units transferred out during the monthWork in process, endingTotal units and equivalent units of productionCost per equivalent unitMaterialsTotalTotal codCost accounted for as follows:Transferred to next department:Work in process, endingMaterials.ConversionCost ReconciliationTotal CostQuantityScheduleConversionSNote: There is difference of "$4 in both the values due to rounding and we feel a note which reads: "Due to rounding, your "Costaccounted for may not be equal to "Cost to account for".32,9009,00041,90000Equivalent Units (Cu)Materials ConversionWhole UnitEquivalent Units (EU)Materials Conversion00

The equivalent units are calculated on the basis of percentage of the work completed during the…

Beginning WIP inventory Units started into production this period Units completed and transferred out Ending WIP inventory Costs in beginning inventory Current-period costs 16,900 units (70% complete as to materials; 758 complete as to conversion costs) 25,000 units 32,900 units 9,000 units (55% complete as to materials; 55t complete as to conversion costs) $ 131,000 materials; $169,000 conversion costs $ 250,000 materials; $431,000 conversion costs

Beginning WIP inventory Units started into production this period Units completed and transferred out Ending WIP inventory Costs in beginning inventory Current-period costs 16,900 units (70% complete as to materials; 758 complete as to conversion costs) 25,000 units 32,900 units 9,000 units (55% complete as to materials; 55t complete as to conversion costs) $ 131,000 materials; $169,000 conversion costs $ 250,000 materials; $431,000 conversion costs

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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