Managerial Accounting: Tools for Business Decision Making 7e Binder Ready Version + WileyPLUS Registration Card
7th Edition
ISBN: 9781119036449
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: Wiley (WileyPLUS Products)
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Textbook Question
Chapter 3, Problem 3.8E
The Blending Department of Luongo Company has the following cost and production data for the month of April.
Determine equivalent units, unit costs, and assignment of cost. (LO 3, 4), AP
| Costs: | |
| Work in process, April 1 | |
| Direct materials: 100% complete | $100,000 |
| Conversion costs: 20% complete | 70,000 |
| Cost of work in process, April 1 | $170,000 |
| Costs incurred during production in April | |
| Direct materials | $ 800,000 |
| Conversion costs | 365,000 |
| Costs incurred in April | $1,165,000 |
Units transferred out totaled 17,000. Ending work in process was 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs.
Instructions
(a) Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April.
(b) Compute the unit costs for the month.
(c) Determine the costs to be assigned to the units transferred out and in ending work in process.
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Chapter 3 Solutions
Managerial Accounting: Tools for Business Decision Making 7e Binder Ready Version + WileyPLUS Registration Card
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