The cutting department of Wildhorse Manufacturing has the following production and cost data for July. 1. Completed and transferred out 12,400 units. 2. 3,450 units in ending work in process inventory are 60% complete in terms of conversion costs and 100% complete in terms of materials at July 31. Total equivalent units Direct materials $ Conversion costs Calculate unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 15.25.) Cost Reconciliation Schedule Costs accounted for Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. $ Completed and transferred out Direct materials Determine the equivalent units of production for materials and conversion costs. Work in process inventory, July 31 Conversion costs Production Unit costs Total costs $ Direct Materials 15850 Costs Beginning work in process Direct materials. Direct labour Manufacturing overhead $-0- 47,550 15,500 16,334 Conversion Costs 14470
The cutting department of Wildhorse Manufacturing has the following production and cost data for July. 1. Completed and transferred out 12,400 units. 2. 3,450 units in ending work in process inventory are 60% complete in terms of conversion costs and 100% complete in terms of materials at July 31. Total equivalent units Direct materials $ Conversion costs Calculate unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 15.25.) Cost Reconciliation Schedule Costs accounted for Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. $ Completed and transferred out Direct materials Determine the equivalent units of production for materials and conversion costs. Work in process inventory, July 31 Conversion costs Production Unit costs Total costs $ Direct Materials 15850 Costs Beginning work in process Direct materials. Direct labour Manufacturing overhead $-0- 47,550 15,500 16,334 Conversion Costs 14470
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please answer all the parts, answer in text form please (without image)

Transcribed Image Text:The cutting department of Wildhorse Manufacturing has the following production and cost data for July.
1. Completed and transferred out 12,400 units.
2. 3,450 units in ending work in process inventory are 60% complete
in terms of conversion costs and 100% complete
in terms of materials at July 31.
Total equivalent units
Direct materials $
Conversion costs $
Calculate unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 15.25.)
Cost Reconciliation Schedule
Costs accounted for
Completed and transferred out
Production
Work in process inventory, July 31
Direct materials
Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process.
Unit costs
Conversion costs
Determine the equivalent units of production for materials and conversion costs.
Total costs
Direct Materials
15850
Costs
Beginning work in process
Direct materials
Direct labour
Manufacturing overhead
$-0-
47,550
15,500
16,334
Conversion Costs
14470
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