The Cutting Department of Crane Company has the following production and cost data for July 1. 2. Production Completed and transferred out 9,840 units. 2,460 units in ending working in process are 60% complete as to conversion costs and 100% complete as to materials at July 31. Costs Beginning work in process Direct materials Direct labor Manufacturing overhead Determine the equivalent units of production for (1) materials and (2) conversion costs. Materials 50 36,900 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. 13.284 15.006 Conversion Costs

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The Cutting Department of Crane Company has the following production and cost data for July
Production
2.
1. Completed and transferred out 9,840 units.
2,460 units in ending working in process are 60%
complete as to conversion costs and 100%
complete as to materials at July 31.
Costs
Beginning work in process
Direct materials
Total equivalent units of production
Direct labor
Manufacturing overhead
Determine the equivalent units of production for (1) materials and (2) conversion costs.
Materials
$0
Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process.
36,900
13,284
15.006
Conversion Costs
Transcribed Image Text:The Cutting Department of Crane Company has the following production and cost data for July Production 2. 1. Completed and transferred out 9,840 units. 2,460 units in ending working in process are 60% complete as to conversion costs and 100% complete as to materials at July 31. Costs Beginning work in process Direct materials Total equivalent units of production Direct labor Manufacturing overhead Determine the equivalent units of production for (1) materials and (2) conversion costs. Materials $0 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. 36,900 13,284 15.006 Conversion Costs
Compute unit costs. (Round unit costs to 2 decimal places, eg 2.25)
Materials
Conversion costs $
eTextbook and Media
Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg 2.25 and final answers to O decimal places, eg 1,225)
Cost Reconciliation
Costs accounted for
Completed and Transferred out
Work in process, July 31
Materials
Conversion costs
$
Show Transcribed Text
Cost Reconciliation
Costs accounted for
Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg. 2.25 and final answers to 0 decimal places, eg. 1,225)
Completed and Transferred out
Work in process, July 31
Materials
Conversion costs
Total costs
G
eTextbook and Medial
Transcribed Image Text:Compute unit costs. (Round unit costs to 2 decimal places, eg 2.25) Materials Conversion costs $ eTextbook and Media Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg 2.25 and final answers to O decimal places, eg 1,225) Cost Reconciliation Costs accounted for Completed and Transferred out Work in process, July 31 Materials Conversion costs $ Show Transcribed Text Cost Reconciliation Costs accounted for Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg. 2.25 and final answers to 0 decimal places, eg. 1,225) Completed and Transferred out Work in process, July 31 Materials Conversion costs Total costs G eTextbook and Medial
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