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 13,600 To Finished Goods, 92,000 units 169,200 228,400 88,820 Bal., 4,000 units, 50% completed Direct materials, 94,000 units @ $1.8 Direct labor Factory overhead Bal., ? units, 55% completed Cost per equivalent units of $1.80 for Direct Materials and $3.40 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 24 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest %24 cent.) b. Did the production costs change from the preceding period? 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?
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 13,600 To Finished Goods, 92,000 units 169,200 228,400 88,820 Bal., 4,000 units, 50% completed Direct materials, 94,000 units @ $1.8 Direct labor Factory overhead Bal., ? units, 55% completed Cost per equivalent units of $1.80 for Direct Materials and $3.40 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 24 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest %24 cent.) b. Did the production costs change from the preceding period? 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?
Chapter1: Financial Statements And Business Decisions
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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
13,600 To Finished Goods, 92,000 units
169,200
228,400|
88,820
Bal., 4,000 units, 50% completed
?
Direct materials, 94,000 units @ $1.8
Direct labor
Factory overhead
Bal., ? units, 55% completed
Cost per equivalent units of $1.80 for Direct Materials and $3.40 for Conversion Costs.
a. Based on the above data, determine the different costs listed below.
If required, round your interim calculations to two decimal places.
$
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?
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?
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