Tuxedo Company has several processing departments. Costs charged to the Assembly Department for October 2019 totaled $1,298,400 as follows. Work in process, October 1 Materials                      $29,000 Conversion costs          16,500                         $ 45,500 Materials added                                               1,006,000 Labor                                                                    138,900 Overhead                                                             108,000 Production records show that 25,000 units were in beginning work in process 40% complete as to conversion cost, 435,000 units were started into production, and 35,000 units were in ending work in process 40% complete as to conversion costs. Materials are entered at the beginning of each process. Instructions: a) Determine the equivalent units of production and the unit production costs for the Assembly Department. b) Determine the assignment of costs to goods transferred out and in process. c) Prepare a production cost report for the Assembly Department.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tuxedo Company has several processing departments. Costs charged to the Assembly
Department for October 2019 totaled $1,298,400 as follows.

Work in process, October 1

Materials                      $29,000
Conversion costs          16,500                         $ 45,500

Materials added                                               1,006,000
Labor                                                                    138,900
Overhead                                                             108,000

Production records show that 25,000 units were in beginning work in process 40% complete
as to conversion cost, 435,000 units were started into production, and 35,000 units were in
ending work in process 40% complete as to conversion costs. Materials are entered at the
beginning of each process.

Instructions:
a) Determine the equivalent units of production and the unit production costs for the
Assembly Department.
b) Determine the assignment of costs to goods transferred out and in process.
c) Prepare a production cost report for the Assembly Department.

Work in process, October 1
Materials
Conversion costs
$29,000
16,500
$ 45,500
Materials added
1,006,000
138,900
108,000
Labor
Overhead
Transcribed Image Text:Work in process, October 1 Materials Conversion costs $29,000 16,500 $ 45,500 Materials added 1,006,000 138,900 108,000 Labor Overhead
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How to get value 425.000 in units completed and transferred? Please show me step detail..

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