The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production, Work in Process-Assembly Department Bal., 30,000 unit 40% completed Direct materials, 400,000 units @ $11.25 Direct labor Factory overhead Bal., 2 units, 30% completed i Cost per equivalent units of $11.25 for Direct Materials and $60.00 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period i 1,075,500 To Finished Goods, 406,000 units 4,500,000 4,012,000 20,060,000 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? 0000 c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?

The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production, Work in Process-Assembly Department Bal., 30,000 unit 40% completed Direct materials, 400,000 units @ $11.25 Direct labor Factory overhead Bal., 2 units, 30% completed i Cost per equivalent units of $11.25 for Direct Materials and $60.00 for Conversion Costs. a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period i 1,075,500 To Finished Goods, 406,000 units 4,500,000 4,012,000 20,060,000 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.) b. Did the production costs change from the preceding period? 0000 c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?

Name: The charges to Work in Process-Assembly Department for a period, toge
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Description: The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed inprocess at the beginning of production.Work in Process-Assembly DepartmentBal., 30,00

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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