Vista Company has gathere following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials 23,600 193,520 28,320 60 % 100 %

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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### Carla Vista Company Process and Cost Information

Carla Vista Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process.

#### Production Data
- **Units in beginning work in process:** 23,600
- **Units started into production:** 193,520
- **Units in ending work in process:** 28,320

#### Percent Complete in Ending Work in Process
- **Conversion costs:** 60%
- **Materials:** 100%

#### Cost Data
Cost of beginning work in process, plus costs incurred during the period:
- **Direct materials:** $130,272
- **Direct labor:** $194,464
- **Overhead:** $217,120
Transcribed Image Text:### Carla Vista Company Process and Cost Information Carla Vista Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. #### Production Data - **Units in beginning work in process:** 23,600 - **Units started into production:** 193,520 - **Units in ending work in process:** 28,320 #### Percent Complete in Ending Work in Process - **Conversion costs:** 60% - **Materials:** 100% #### Cost Data Cost of beginning work in process, plus costs incurred during the period: - **Direct materials:** $130,272 - **Direct labor:** $194,464 - **Overhead:** $217,120
(c)

**Your answer is partially correct.**

Show the assignment of costs to units completed and transferred out and to work in process at the end of the period.

- **Completed and transferred out:** $490,880
- **Ending work in process:** $67,968

Explanation:

In this section, we are looking at how costs are assigned to units that have been completed and transferred out versus those that are still in the work-in-process stage at the end of the period.

1. **Completed and transferred out:** This represents the total cost for units that were fully completed during the period and have been moved out of the work-in-process category. The cost for these units is $490,880.
2. **Ending work in process:** This is the total cost for units that are still in production at the end of the period. The cost for these units is $67,968.

The given figures indicate where the costs are allocated between completed units and those still being processed.
Transcribed Image Text:(c) **Your answer is partially correct.** Show the assignment of costs to units completed and transferred out and to work in process at the end of the period. - **Completed and transferred out:** $490,880 - **Ending work in process:** $67,968 Explanation: In this section, we are looking at how costs are assigned to units that have been completed and transferred out versus those that are still in the work-in-process stage at the end of the period. 1. **Completed and transferred out:** This represents the total cost for units that were fully completed during the period and have been moved out of the work-in-process category. The cost for these units is $490,880. 2. **Ending work in process:** This is the total cost for units that are still in production at the end of the period. The cost for these units is $67,968. The given figures indicate where the costs are allocated between completed units and those still being processed.
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