Toronto Manufacturing Ltd. has the following cost and production data for the month of November. Beginning WIP 17,800 units Started in production 104,300 Completed production 93,600 Ending WIP 28,500 The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of November are as follows: Beginning inventory costs are: Materials $ 66,200 Direct labour 18,300 Factory overhead 13,700 Costs incurred during November include: Materials $ 587,035 Direct labour 195,000 Factory overhead 387,250 (a) Calculate the equivalent units of production for materials and for conversion costs. Materials Conversion Costs Equivalent units of production
Toronto Manufacturing Ltd. has the following cost and production data for the month of November. Beginning WIP 17,800 units Started in production 104,300 Completed production 93,600 Ending WIP 28,500 The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of November are as follows: Beginning inventory costs are: Materials $ 66,200 Direct labour 18,300 Factory overhead 13,700 Costs incurred during November include: Materials $ 587,035 Direct labour 195,000 Factory overhead 387,250 (a) Calculate the equivalent units of production for materials and for conversion costs. Materials Conversion Costs Equivalent units of production
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Toronto Manufacturing Ltd. has the following cost and production data for the month of November.
| Beginning WIP | 17,800 | units | ||
| Started in production | 104,300 | |||
| Completed production | 93,600 | |||
| Ending WIP | 28,500 |
The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process.
Costs pertaining to the month of November are as follows:
| Beginning inventory costs are: | |||
| Materials | $ 66,200 | ||
| Direct labour | 18,300 | ||
| Factory |
13,700 | ||
| Costs incurred during November include: | |||
| Materials | $ 587,035 | ||
| Direct labour | 195,000 | ||
| Factory overhead | 387,250 |
(a)
Calculate the equivalent units of production for materials and for conversion costs.
| Materials | Conversion Costs |
||||
| Equivalent units of production |
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