The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.70 and $0.20, respectively. The equivalent units to be assigned costs are as follows:   Direct Materials Conversion Inventory in process, beginning of period 0   2,620   Started and completed during the period 52,330   52,330   Transferred out of Bottling (completed) 52,330   54,950   Inventory in process, end of period 3,000   2,700   Total units to be assigned costs 55,330   57,650     The beginning work in process inventory had a cost of $3,500. Determine the cost of completed and transferred out production, and the ending work in process inventory. Completed and transferred out production $fill in the blank 1 Inventory in process, ending $fill in the blank 2

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The cost per equivalent units of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.70 and $0.20, respectively. The equivalent units to be assigned costs are as follows:

  Direct
Materials

Conversion
Inventory in process, beginning of period 0   2,620  
Started and completed during the period 52,330   52,330  
Transferred out of Bottling (completed) 52,330   54,950  
Inventory in process, end of period 3,000   2,700  
Total units to be assigned costs 55,330   57,650  

 

The beginning work in process inventory had a cost of $3,500. Determine the cost of completed and transferred out production, and the ending work in process inventory.

Completed and transferred out production $fill in the blank 1
Inventory in process, ending $fill in the blank 2
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