CengageNOWv2 | Online teachin x+A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession. E *Ch 20.2Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $1.75 and$1.85, respectively. The equivalent units to be assigned costs are as follows:Equivalent UnitsDirect Materials ConversionInventory in process, beginning of period2,800Started and completed during the period46,00046,000Transferred out of Filling (completed)46,00048,800Inventory in process, end of period3,0001,500Total units to be assigned costs49,00050,300The beginning work in process inventory had a cost of $1,570. Determine the cost of completed and transferred-out production and theending work in process inventory. If required, round to the nearest dollar.Completed and transferred out of productionInventory in process, ending8,025FeedbackV Check My WorkThe assumption would be that units that had been in beginning work in process would have been the first units completed in thedepartment. How much cost is associated with those beginning work in process units? How many units were both started andcompleted during the period? How much cost is associated with the started and completed units? How many units were startedin the period but are still in work in process? How much cost is associated with these ending work in process units?

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $1.75 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 2,800 Started and completed during the period 46,000 46,000 Transferred out of Filling (completed) 46,000 48,800 Inventory in process, end of period 3,000 1,500

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $1.75 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 2,800 Started and completed during the period 46,000 46,000 Transferred out of Filling (completed) 46,000 48,800 Inventory in process, end of period 3,000 1,500

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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