The Cutting Department of Cullumber Company has the following production and cost data for July. 1. 2. Production Completed and transferred out 12,720 units. 3,180 units in ending working in process are 60% complete as to conversion costs and 100% complete as to materials at July 31. Total equivalent units of production Determine the equivalent units of production for (1) materials and (2) conversion costs. e Textbook and Media Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Materials Conversion costs Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) $ $ Costs Beginning work in process Direct materials e Textbook and Media Cost Reconciliation Costs accounted for Direct labor 17,172 Manufacturing overhead 19,398 Completed and Transferred out $0 Materials 47,700 Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to O decimal places, e.g. 1,225.) Conversion Costs

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The Cutting Department of Cullumber Company has the following production and cost data for July.
1.
2.
Production
Completed and transferred out 12,720 units.
3,180 units in ending working in process are 60%
complete as to conversion costs and 100%
complete as to materials at July 31.
Total equivalent units of production
e Textbook and Media
Determine the equivalent units of production for (1) materials and (2) conversion costs.
Materials
Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process.
Conversion costs
Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.)
eTextbook and Media
$
$
Cost Reconciliation
Costs accounted for
Materials
Completed and Transferred out
Work in process, July 31
Conversion costs
Beginning work in process
Direct materials
Total costs
Direct labor
Manufacturing overhead
Costs
Materials
Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to O decimal places, e.g. 1,225.)
$0
$
47,700
17,172
19,398
Conversion Costs
Transcribed Image Text:The Cutting Department of Cullumber Company has the following production and cost data for July. 1. 2. Production Completed and transferred out 12,720 units. 3,180 units in ending working in process are 60% complete as to conversion costs and 100% complete as to materials at July 31. Total equivalent units of production e Textbook and Media Determine the equivalent units of production for (1) materials and (2) conversion costs. Materials Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Conversion costs Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) eTextbook and Media $ $ Cost Reconciliation Costs accounted for Materials Completed and Transferred out Work in process, July 31 Conversion costs Beginning work in process Direct materials Total costs Direct labor Manufacturing overhead Costs Materials Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to O decimal places, e.g. 1,225.) $0 $ 47,700 17,172 19,398 Conversion Costs
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