Rooney Company had 300 units of product in work in process inventory at the beginning of the period. It started 1,600 units during the period and transferred 1,500 units to finished goods inventory. The ending work in process. inventory was estimated to be 60 percent complete. Cost data for the period follow: Product Costs Beginning $ 50,280 balance Added 57,600 during period Total $ 107,880 Required 1. Calculate the number of equivalent units of production. 2. Calculate the product cost per equivalent unit. 3. Calculate the total cost allocated between ending work in process inventory and finished goods inventory.

Rooney Company had 300 units of product in work in process inventory at the beginning of the period. It started 1,600 units during the period and transferred 1,500 units to finished goods inventory. The ending work in process. inventory was estimated to be 60 percent complete. Cost data for the period follow: Product Costs Beginning $ 50,280 balance Added 57,600 during period Total $ 107,880 Required 1. Calculate the number of equivalent units of production. 2. Calculate the product cost per equivalent unit. 3. Calculate the total cost allocated between ending work in process inventory and finished goods inventory.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4EA: There were 1,700 units in beginning inventory that were 40% complete with regard to conversion....

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