The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows: 3,800 units, 80% completed Direct materials, 32,000 units Direct labor Factory overhead Total cost to be accounted for During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1. On June 30, the inventory c work in process consisted of 4,600 units that were 40% completed. Inventories are costed by the weighted average method and materials are added throughout the process. Determine the following, presenting your computations: a. Equivalent units of production units b. Cost per equivalent unit s per unit c. Cost assigned to finished goods completed in the current period: d. Cost assigned to ending work in process inventory at June 30 s $59,040 368,000 244,000 188,000 $859,040
The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows: 3,800 units, 80% completed Direct materials, 32,000 units Direct labor Factory overhead Total cost to be accounted for During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1. On June 30, the inventory c work in process consisted of 4,600 units that were 40% completed. Inventories are costed by the weighted average method and materials are added throughout the process. Determine the following, presenting your computations: a. Equivalent units of production units b. Cost per equivalent unit s per unit c. Cost assigned to finished goods completed in the current period: d. Cost assigned to ending work in process inventory at June 30 s $59,040 368,000 244,000 188,000 $859,040
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Kk.383.
![The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows:
3,800 units, 80% completed
$59,040
Direct materials, 32,000 units
368,000
Direct labor
244,000
Factory overhead
188,000
Total cost to be accounted for
$859,040
During June, 32,000 units were placed into production and 31,200 units were completed, including those in Inventory on June 1. On June 30, the inventory of
work in process consisted of 4,600 units that were 40% completed. Inventories are costed by the weighted average method and materials are added
throughout the process.
Determine the following, presenting your computations:
a. Equivalent units of production
units
b. Cost per equivalent unit s
per unit
e. Cost assigned to finished goods completed in the current period s
d. Cost assigned to ending work in process inventory at June 30 s](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F323c9976-6b7b-4414-aa82-41105edc66ec%2F3b05848f-2a4e-407b-ace2-f4b80a864354%2F5frxfkb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows:
3,800 units, 80% completed
$59,040
Direct materials, 32,000 units
368,000
Direct labor
244,000
Factory overhead
188,000
Total cost to be accounted for
$859,040
During June, 32,000 units were placed into production and 31,200 units were completed, including those in Inventory on June 1. On June 30, the inventory of
work in process consisted of 4,600 units that were 40% completed. Inventories are costed by the weighted average method and materials are added
throughout the process.
Determine the following, presenting your computations:
a. Equivalent units of production
units
b. Cost per equivalent unit s
per unit
e. Cost assigned to finished goods completed in the current period s
d. Cost assigned to ending work in process inventory at June 30 s
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 8 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education