Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials 2,060 $ 15.16 Conversion 970 $ 5.53 A total of 21,400 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.) 1. Cost of ending work in process inventory 2. Cost of units transferred out Materials Conversion Total

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process
costing, appear below:
Equivalent units in ending work in process inventory
Cost per equivalent unit
Materials
2,060
$ 15.16
Conversion
970
$ 5.53
A total of 21,400 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.)
1. Cost of ending work in process inventory
2. Cost of units transferred out
Materials
Conversion
Total
Transcribed Image Text:-S Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials 2,060 $ 15.16 Conversion 970 $ 5.53 A total of 21,400 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.) 1. Cost of ending work in process inventory 2. Cost of units transferred out Materials Conversion Total
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