ACCT.PRINCIPLES-WILEYPLUS NEXTGEN
ACCT.PRINCIPLES-WILEYPLUS NEXTGEN
14th Edition
ISBN: 9781119709954
Author: Weygandt
Publisher: WILEY
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Chapter 21, Problem 10BE
To determine

Job order costing:

Job order costing is a cost evaluation method that considers each job separate and assign cost to them. It is mostly applicable in the service industry wherein every job has a separate requirement.

To assign: The cost to transferred out and in process units.

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Pix Company has the following production data for March: no beginning work in process, units started and completed 25,000, and ending work in process 4,600 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $4 and unit conversion cost is $11, determine the costs to be assigned to the units transferred out and the units in ending work in process. The total costs to be assigned are $413,640. Transferred out Ending work in process
Sunland Company has the following production data for March 2027: no beginning work in process, units started and completed 28,200, and ending work in process 4,700 units that are 100% complete for materials and 40% complete for conversion costs. Sunland uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $11, determine the costs to be assigned to the units completed and transferred out and the units in ending work in process. The total costs to be assigned are $561,180. Completed and transferred out Ending work in process $ $
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Job Cost Sheet - Job Cost Accounting System; Author: Accounting Instruction, Help, & How To;https://www.youtube.com/watch?v=ElD8nKNXE1I;License: Standard Youtube License