Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department 17,440 275,500 Bal., 1,600 units, 35% completed To Finished Goods, 29,600 units Direct materials, 29,000 units @ $9.50 84,600 39,258 Direct labor Factory overhead Bal. 2 units, 45% completed Cost per equivalent units of $9.50 for Direct Materials and $4.20 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period. 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? Yes v c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period? Increase v
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department 17,440 275,500 Bal., 1,600 units, 35% completed To Finished Goods, 29,600 units Direct materials, 29,000 units @ $9.50 84,600 39,258 Direct labor Factory overhead Bal. 2 units, 45% completed Cost per equivalent units of $9.50 for Direct Materials and $4.20 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period. 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? Yes v c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period? Increase v
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 16E: Cost of production report The debits to Work in ProcessRoasting Department for Morning Brew Coffee...
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![Cost of Units Completed and in Process
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.
Work in Process-Assembly Department
17,440
275,500
Bal., 1,600 units, 35% completed
To Finished Goods, 29,600 units
?
Direct materials, 29,000 units @
$9.50
84,600
39,258
Direct labor
Factory overhead
Bal. ? units, 45% completed
Cost per equivalent units of $9.50 for Direct Materials and $4.20 for Conversion Costs.
a. Based on the above data, determine the different costs listed below.
1. Cost of beginning work in process inventory completed this period.
2. Cost of units transferred to finished goods during the period.
3. Cost of ending work in process inventory.
$4
4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent.
$4
b. Did the production costs change from the preceding period?
Yes v
C. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?
Increase
%%24
%24
%24
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Transcribed Image Text:Cost of Units Completed and in Process
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.
Work in Process-Assembly Department
17,440
275,500
Bal., 1,600 units, 35% completed
To Finished Goods, 29,600 units
?
Direct materials, 29,000 units @
$9.50
84,600
39,258
Direct labor
Factory overhead
Bal. ? units, 45% completed
Cost per equivalent units of $9.50 for Direct Materials and $4.20 for Conversion Costs.
a. Based on the above data, determine the different costs listed below.
1. Cost of beginning work in process inventory completed this period.
2. Cost of units transferred to finished goods during the period.
3. Cost of ending work in process inventory.
$4
4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent.
$4
b. Did the production costs change from the preceding period?
Yes v
C. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?
Increase
%%24
%24
%24
%24
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