Process costing with equivalent units and beginning inventory The records of Westminster Manufacturing Company for the month of May show the following costs in Department A: Beginning Inventory Direct Materials Direct Labor Overhead (150% of Direct Labor Cost) Total $ 120,750 405,000 535,500 803,250 $1,864,500 The beginning inventory for May consisted of 10,000 units which were 80% complete as to direct materials and 60% complete as to labor and overhead. A total of 100,000 units were completed and transferred out during May, and 20,000 units remained in the work in process inventory. The ending inventory was 80% complete as to direct materials and 40% complete as to labor and overhead. Compute the following: (a) Direct materials cost per equivalent unit: $ (b) Equivalent units of production for direct labor and overhead: (c) Total cost of 100,000 units completed: $ (d) Total cost of 20,000 units in process at the end of the month: $

Process costing with equivalent units and beginning inventory The records of Westminster Manufacturing Company for the month of May show the following costs in Department A: Beginning Inventory Direct Materials Direct Labor Overhead (150% of Direct Labor Cost) Total $ 120,750 405,000 535,500 803,250 $1,864,500 The beginning inventory for May consisted of 10,000 units which were 80% complete as to direct materials and 60% complete as to labor and overhead. A total of 100,000 units were completed and transferred out during May, and 20,000 units remained in the work in process inventory. The ending inventory was 80% complete as to direct materials and 40% complete as to labor and overhead. Compute the following: (a) Direct materials cost per equivalent unit: $ (b) Equivalent units of production for direct labor and overhead: (c) Total cost of 100,000 units completed: $ (d) Total cost of 20,000 units in process at the end of the month: $

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Description: 2.Process costing with equivalent units and beginning inventoryThe records of Westminster Manufacturing Company for the month of May showthe following costs in Department A:Beginning InventoryDirect MaterialsDirect LaborOverhead (150% of Direct Labo

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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