The Blending Department of Luongo Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete $118,000 Conversion costs: 20% complete 82,600 Cost of work in process, April 1 $200,600 Costs incurred during production in April Direct materials $944,000 Conversion costs 430,700 Costs incurred in April $1,374,700 Units transferred out totaled 20,060. Ending work in process was 1,180 units that are 100% complete as to materials and 40% complete as to conversion costs. Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April. Materials Conversion Costs The equivalent units of production Compute the unit costs for the month. Materials Conversion Costs Unit costs $ $ Determine the costs to be assigned to the units transferred out and in ending work in process. Transferred out $ Ending work in process $
The Blending Department of Luongo Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete $118,000 Conversion costs: 20% complete 82,600 Cost of work in process, April 1 $200,600 Costs incurred during production in April Direct materials $944,000 Conversion costs 430,700 Costs incurred in April $1,374,700 Units transferred out totaled 20,060. Ending work in process was 1,180 units that are 100% complete as to materials and 40% complete as to conversion costs. Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April. Materials Conversion Costs The equivalent units of production Compute the unit costs for the month. Materials Conversion Costs Unit costs $ $ Determine the costs to be assigned to the units transferred out and in ending work in process. Transferred out $ Ending work in process $
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 1CMA: During December, Krause Chemical Company had the following selected data concerning the manufacture...
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The Blending Department of Luongo Company has the following cost and production data for the month of April.
Units transferred out totaled 20,060. Ending work in process was 1,180 units that are 100% complete as to materials and 40% complete as to conversion costs.
| Costs: | ||
| Work in process, April 1 | ||
| Direct materials: 100% complete | $118,000 | |
| Conversion costs: 20% complete | 82,600 | |
| Cost of work in process, April 1 | $200,600 | |
| Costs incurred during production in April | ||
| Direct materials | $944,000 | |
| Conversion costs | 430,700 | |
| Costs incurred in April | $1,374,700 |
Units transferred out totaled 20,060. Ending work in process was 1,180 units that are 100% complete as to materials and 40% complete as to conversion costs.
Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April.
|
Materials
|
Conversion Costs
|
|||
| The equivalent units of production |
|
|
Compute the unit costs for the month.
|
Materials
|
Conversion Costs
|
|||
| Unit costs |
$
|
$
|
Determine the costs to be assigned to the units transferred out and in ending work in process.
| Transferred out |
$
|
|
| Ending work in process |
$
|
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