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 production. Work in Process-Assembly Department 17,440 275,500 84,600 Bal., 1,600 units, 35% completed To Finished Goods, 29,600 units Direct materials, 29,000 units @ $9.50 Direct labor Factory overhead 39,258 Bal. ? units, 45% completed 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 production. Work in Process-Assembly Department 17,440 275,500 84,600 Bal., 1,600 units, 35% completed To Finished Goods, 29,600 units Direct materials, 29,000 units @ $9.50 Direct labor Factory overhead 39,258 Bal. ? units, 45% completed 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

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Description: Cost of Units Completed and in ProcessThe 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 ofproduction.Work in

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 6BE: The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus...

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Concept explainers

Process Costing

Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure. 

Job Costing

Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.

ABC Costing

Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.

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Question

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
Direct labor
84,600
Factory overhead
39,258
Bal. ? units, 45% completed
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
%24
%24

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