Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units in ending work in process inventory $2,130 $850 Cost per equivalent unit $15.66 $4.83 A total of 21,300 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. (For all requirements, round your final answers to the nearest whole dollar amount.) Materials Conversion Total 1. Cost of ending work in process inventory 2. Cost of units transferred out
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units in ending work in process inventory $2,130 $850 Cost per equivalent unit $15.66 $4.83 A total of 21,300 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. (For all requirements, round your final answers to the nearest whole dollar amount.) Materials Conversion Total 1. Cost of ending work in process inventory 2. Cost of units transferred out
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Exercise 4-4 (Algo) Assigning Costs to Units—Weighted-Average Method [LO 4-4]
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses
| Materials | Conversion | |
| Equivalent units in ending work in process inventory | $2,130 | $850 |
| Cost per equivalent unit | $15.66 | $4.83 |
A total of 21,300 units were completed and transferred to the next processing department during the period.
Required:
1. Compute the cost of ending work in process inventory for materials, conversion, and in total.
2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
(For all requirements, round your final answers to the nearest whole dollar amount.)
| Materials | Conversion | Total | |
| 1. Cost of ending work in process inventory | |||
| 2. Cost of units transferred out |
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