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 2,190 910 Cost per equivalent unit $ 15.46 $ 5.63 A total of 21,100 units were completed and transferred to the next processing department during the period. Required: Compute the cost of ending work in process inventory for materials, conversion, and in total. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
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 2,190 910 Cost per equivalent unit $ 15.46 $ 5.63 A total of 21,100 units were completed and transferred to the next processing department during the period. Required: Compute the cost of ending work in process inventory for materials, conversion, and in total. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 23E: Using the same data found in Exercise 6.22, assume the company uses the FIFO method. Required:...
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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 | 2,190 | 910 |
| Cost per equivalent unit | $ 15.46 | $ 5.63 |
A total of 21,100 units were completed and transferred to the next processing department during the period.
Required:
- Compute the cost of ending work in process inventory for materials, conversion, and in total.
- Compute the cost of the units completed and transferred out for materials, conversion, and in total.
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