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 1,075,500 To Finished Goods, 406,000 units 4,500,000 4,012,000 20,060,000 Bal., 30,000 units, 40% completed Direct materials, 400,000 units @ $11.25 Direct labor Factory overhead Bal., 2 units, 30% completed Cost per equivalent units of $11.25 for Direct Materials and $60.00 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.) 0⁰0

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 1,075,500 To Finished Goods, 406,000 units 4,500,000 4,012,000 20,060,000 Bal., 30,000 units, 40% completed Direct materials, 400,000 units @ $11.25 Direct labor Factory overhead Bal., 2 units, 30% completed Cost per equivalent units of $11.25 for Direct Materials and $60.00 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.) 0⁰0

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Description: Chapter 17 homeworkeBookCost 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 processat the beginnin

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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Continuation.. Data for Finishing Department are as follows: Cost Data: Beginning Work in Process Costs Transferred In from Prior Dept 27,225 Costs Incurred in this Department: Materials 1,500 Labor 5,500 Overhead 4,500 Current Month Cost: Costs Transferred In from Prior Dept ?????? Costs Incurred in this Department: Materials 23,500 Labor 70,000 Overhead 75,000 Production Data: Quantity: Work in Process – Beginning 10,000 Started in Process 30,000 Transferred out to Next Department From Work in Process – Beginning 10000 Started and Completed 18,500 28,500 Work in Process – Ending 10,800 Lost Units – Normal 450 Abnormal Lost Units 250 Stage of Completion: Beginning Ending Transferred In Costs 100% 100% Materials 60% 55% Labor 60% 55% Overhead 60% 55% 1. Referring to Finishing Department, what is the total cost allocated to abnormal spoilage using the weighted-average method? 2.…
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