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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

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 1CMA: During December, Krause Chemical Company had the following selected data concerning the manufacture...
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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
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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