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 17E: K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the...
Related questions
Question
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.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning