The Blending Department of Ivanhoe Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete Conversion costs: 20% complete Cost of work in process, April 1 Costs incurred during production in April Direct materials Conversion costs Costs incurred in April $86,000 60,200 $146,200 $765,400 313,900 $1,079,300 Units completed and transferred out totaled 14,620. Ending work in process was 860 units that are 100% complete as to materials and 40% complete as to conversion costs.
The Blending Department of Ivanhoe Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete Conversion costs: 20% complete Cost of work in process, April 1 Costs incurred during production in April Direct materials Conversion costs Costs incurred in April $86,000 60,200 $146,200 $765,400 313,900 $1,079,300 Units completed and transferred out totaled 14,620. Ending work in process was 860 units that are 100% complete as to materials and 40% complete as to conversion costs.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Subject accounts
Transcribed Image Text:The Blending Department of Ivanhoe Company has the following cost and production data for the month of April.
Costs:
Work in process, April 1
Direct materials: 100% complete
Conversion costs: 20% complete
Cost of work in process, April 1
Costs incurred during production in April
Direct materials
Conversion costs
Costs incurred in April
$86,000
60,200
$146,200
$765,400
313,900
$1,079,300
Units completed and transferred out totaled 14,620. Ending work in process was 860 units that are 100% complete as to materials
and 40% complete as to conversion costs.
Transcribed Image Text:Your answer is correct.
Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April.
The equivalent units of production
(b)
eTextbook and Media
Compute the unit costs for the month.
Unit costs
Materials
eTextbook and Media
Save for Later
Materials
$
15,480
Conversion Costs
Conversion Costs
14,964
Attempts: 1 of 3 used
Attempts: 0 of 3 used Submit Answer
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education