Sheridan Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Cost of beginning work in process, plus costs incurred during the period: Direct materials Direct labor Overhead Completed and transferred out $ 18,400 Ending work in process 150,880 22,080 60 % 100 % Show the assignment of costs to units completed and transferred out and to work in process at the end of the period. $84,640 $151,616 $169,280

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sheridan Company has gathered the following information. All materials are added at the beginning of the process, and conversion
costs are incurred uniformly throughout the process.
Units in beginning work in process
Units started into production
Units in ending work in process
Percent complete in ending work in process:
Conversion costs
Materials
Cost of beginning work in process, plus costs incurred during the period:
Direct materials
Direct labor
Overhead
Completed and transferred out $
18,400
Ending work in process
150,880
22,080
60 %
100 %
Show the assignment of costs to units completed and transferred out and to work in process at the end of the period.
$84,640
$151,616
$169,280
Transcribed Image Text:Sheridan Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Cost of beginning work in process, plus costs incurred during the period: Direct materials Direct labor Overhead Completed and transferred out $ 18,400 Ending work in process 150,880 22,080 60 % 100 % Show the assignment of costs to units completed and transferred out and to work in process at the end of the period. $84,640 $151,616 $169,280
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