Rooney Company had 300 units of product in work in process inventory at the beginning of the period. It started 1,600 units during the period and transferred 1,500 units to finished goods inventory. The ending work in process. inventory was estimated to be 60 percent complete. Cost data for the period follow: Product Costs Beginning $ 50,280 balance Added 57,600 during period Total $ 107,880 Required 1. Calculate the number of equivalent units of production. 2. Calculate the product cost per equivalent unit. 3. Calculate the total cost allocated between ending work in process inventory and finished goods inventory.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 4PA: During March, the following costs were charged to the manufacturing department: $14886 for...
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Rooney Company had 300 units of
product in work in process inventory at
the beginning of the period. It started
1,600 units during the period and
transferred 1,500 units to finished goods
inventory. The ending work in process.
inventory was estimated to be 60
percent complete. Cost data for the
period follow:
Product
Costs
Beginning
$
50,280
balance
Added
57,600
during period
Total
$
107,880
Required
1. Calculate the number of equivalent
units of production.
2. Calculate the product cost per
equivalent unit.
3. Calculate the total cost allocated
between ending work in process
inventory and finished goods
inventory.
Transcribed Image Text:Rooney Company had 300 units of product in work in process inventory at the beginning of the period. It started 1,600 units during the period and transferred 1,500 units to finished goods inventory. The ending work in process. inventory was estimated to be 60 percent complete. Cost data for the period follow: Product Costs Beginning $ 50,280 balance Added 57,600 during period Total $ 107,880 Required 1. Calculate the number of equivalent units of production. 2. Calculate the product cost per equivalent unit. 3. Calculate the total cost allocated between ending work in process inventory and finished goods inventory.
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