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 Cost per equivalent unit 2,020 $ 13.96 820 $ 5.13 A total of 21,000 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 Cost per equivalent unit 2,020 $ 13.96 820 $ 5.13 A total of 21,000 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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Description: Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses processcosting, appear below:MaterialsConversionEquivalent units in ending work in process inventoryCost per equivalent unit2,0

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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