Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units in ending work in process inventory $2,130 $850 Cost per equivalent unit $15.66 $4.83 A total of 21,300 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. (For all requirements, round your final answers to the nearest whole dollar amount.) Materials Conversion Total 1. Cost of ending work in process inventory 2. Cost of units transferred out
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Materials Conversion Equivalent units in ending work in process inventory $2,130 $850 Cost per equivalent unit $15.66 $4.83 A total of 21,300 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. (For all requirements, round your final answers to the nearest whole dollar amount.) Materials Conversion Total 1. Cost of ending work in process inventory 2. Cost of units transferred out
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter3: Cost Behavior And Cost Forecasting
Section: Chapter Questions
Problem 69P: (Appendix 3A) Separating Fixed and Variable Costs, Service Setting Louise McDermott, controller for...
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Exercise 4-4 (Algo) Assigning Costs to Units—Weighted-Average Method [LO 4-4]
Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses
Materials | Conversion | |
Equivalent units in ending work in process inventory | $2,130 | $850 |
Cost per equivalent unit | $15.66 | $4.83 |
A total of 21,300 units were completed and transferred to the next processing department during the period.
Required:
1. Compute the cost of ending work in process inventory for materials, conversion, and in total.
2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
(For all requirements, round your final answers to the nearest whole dollar amount.)
Materials | Conversion | Total | |
1. Cost of ending work in process inventory | |||
2. Cost of units transferred out |
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